Sale of Stake in Alumbrera
March 26 2003 - 2:03AM
UK Regulatory
RNS Number:2060J
BHP Billiton PLC
26 March 2003
26 March 2003
Number: 10/03
BHP Billiton Announces Sale of Stake in Alumbrera
BHP Billiton announced today that its fully owned subsidiary Rio Algom has
agreed to sell its 25% stake in the Alumbrera copper-gold mine in Argentina to
Wheaton River Minerals Ltd. for a purchase price of US$180 million. Not less
than US$130 million of the purchase price will be payable on closing. Payment of
up to US$50 million of the purchase price may be deferred by Wheaton until May
30, 2005. Any deferred payment will bear interest at LIBOR plus 2% and will be
secured by the interests in Alumbrera acquired by Wheaton. Closing is
anticipated in June, 2003.
BHP Billiton's share of Alumbrera production for fiscal year ended June 30,
2002, was 48,500 tonnes of copper contained in concentrate and 192,939 ounces of
gold.
The transaction is subject to the receipt of required regulatory and other
consents, approvals and releases, including from the lenders to the Alumbrera
Project.
Further information on BHP Billiton can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Investor Relations Mark Lidiard, Investor & Media Relations
Tel: +61 3 9609 3952 Mobile: +61 408 313 259 Tel: +44 20 7802 4156 Mobile: +44 7769 934 942
email: Andrew.W.Nairn@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com
Tracey Whitehead, Media Relations Ariane Gentil, Media Relations
Tel: +61 3 9609 4202 Mobile: +61 419 404 978 Tel: +44 20 7802 4177
email: Tracey.Whitehead@bhpbilliton.com email: Ariane.Gentil@bhpbilliton.com
United States South Africa
Francis McAllister, Investor Relations Michael Campbell, Investor & Media Relations
Tel: +1 713 961 8625 Mobile: +1 713 480 3699 Tel: +27 11 376 3360 Mobile: +27 82 458 2587
email: Francis.R.McAllister@bhpbilliton.com email: Michael.J.Campbell@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: 600 Bourke Street Melbourne Victoria Registered Office: Neathouse Place London SW1V 1BH United
3000 Kingdom
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The company news service from the London Stock Exchange
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