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BIL - BHP Billiton - Review of Diamonds Business BHP Billiton Plc Share code: BIL ISIN: GB0000566504 NEWS RELEASE Release Time IMMEDIATE Date 29 November 2011 Number 36/11 REVIEW OF DIAMONDS BUSINESS BHP Billiton announced today that it is reviewing its diamonds business, comprising the Group`s interests in the EKATI Diamond Mine and the Chidliak exploration project in Canada. BHP Billiton`s strategy is to invest in large, long life, upstream and expandable assets while remaining a simple and scalable organisation. EKATI is a world class operation and Chidliak is a promising exploration opportunity, but many years of extensive exploration suggest there are few options to develop new diamond mines that are consistent with this approach. This review will, therefore, examine whether a continued presence in the diamonds industry is consistent with BHP Billiton`s strategy and evaluate the potential sale of all or part of the diamonds business. As it reviews its diamonds business, BHP Billiton will only pursue those options that will preserve EKATI`s outstanding safety and environmental standards and protect the benefits that the mine has created for local communities. Potential transactions arising from the review will be subject to detailed analysis before a final decision is made. In the event that these criteria are not met, BHP Billiton will continue to operate its world class diamonds business in a sustainable manner. BHP Billiton Diamonds & Specialty Products President Tim Cutt said: "EKATI has made a substantial contribution to economic growth and development in the North ever since diamonds were first discovered there in 1991. Its success is a credit to the great team working at the mine and the strong partnerships they have built with Aboriginal communities and local businesses. "The review we`ve announced today will seek to maintain this legacy so that EKATI continues to bring social and economic benefits to the North while remaining a great place to work." BHP Billiton`s review of its diamonds portfolio is expected to be completed by the end of January 2012. About EKATI: EKATI is located 310 kilometres northeast of Yellowknife and 200 kilometres south of the Arctic Circle. It is Canada`s first diamond mine and owned by BHP Billiton (80%), Dr Stewart Blusson (10%) and Charles Fipke (10%). EKATI has produced an average of over three million carats of rough diamonds per year over the last three years with annual sales representing approximately 10% per cent of global diamond supply by value. EKATI has an outstanding safety and environmental record and a strong history of working with communities in the North. Since operations began in 1998, its total expenditure on goods and services has exceeded $4.2 billion, of which almost 80% has been spent in the North with Aboriginal and Northern businesses. About Chidliak: Chidliak is a diamonds exploration project located on South East Baffin Island in Nunavut, Canada. The property consists of 860,000 hectares about 140km from Iqaluit. Chidliak is a joint venture partnership between BHP Billiton (51%) and Peregrine Diamonds Ltd (49%) and has been operated by Peregrine since 2006. Exploration is ongoing and 7 of 59 known kimberlites have shown economic potential, with others continuing to be explored and assessed. In addition to its diamond potential, the Chidliak property hosts mineral anomalies indicative of platinum / palladium, lead-zinc and copper deposits. Further information on BHP Billiton can be found at: www.bhpbilliton.com Sponsor: Absa Capital (the investment banking division of Absa Bank Limited, affiliated with Barclays Capital) Media Relations Investor Relations
Australia Australia Samantha Stevens James Agar Tel: +61 3 9609 2898 Tel: +61 3 9609 2222 Mobile: +61 400 693 915 Mobile: +61 467 807 064 email: Samantha.Stevens@bhpbilliton.com email: James.Agar@bhpbilliton.com Kelly Quirke Andrew Gunn Tel: +61 3 9609 2896 Tel: +61 3 9609 3575 Mobile: +61 429 966 312 Mobile: +61 439 558 454 email: Kelly.Quirke@bhpbilliton.com email: Andrew.Gunn@bhpbilliton.com
Fiona Martin United Kingdom and South Africa Tel: +61 3 9609 2211 Mobile: +61 427 777 908 Brendan Harris email: Fiona.Martin2@bhpbilliton.com Tel: +44 20 7802 4131 United Kingdom and Americas Mobile: +44 7990 527 726 email: Ruban Yogarajah Brendan.Harris@bhpbilliton.com Tel: US +1 713 966 2907 or UK +44 20 7802 4033 Tara Dines Mobile: UK +44 7827 082 022 Tel : +44 20 7802 7113 email: Ruban.Yogarajah@bhpbilliton.com Mobile : +44 7825 342 232 Email : Tara.Dines@bhpbilliton.com
Americas Scott Espenshade Tel: +1 713 599 6431 Mobile: +1 713 208 8565 email: Scott.Espenshade@bhpbilliton.com BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration Registered in Australia number 3196209 Registered Office: 180 Lonsdale Street Registered in England and Wales Melbourne Victoria 3000 Australia Registered Office: Neathouse Place Tel +61 1300 55 4757 London SW1V 1BH United Kingdom Fax +61 3 9609 3015 Tel +44 20 7802 4000 Fax +44 20 7802 4111 Members of the BHP Billiton Group which is headquartered in Australia Date: 29/11/2011 16:00:20 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
