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BIL - BHP Billiton Plc - Divestment of interest in Richards Bay Minerals

Release Date: 01/02/2012 08:48
Code(s): BIL
Wrap Text

BIL - BHP Billiton Plc - Divestment of interest in Richards Bay Minerals BHP Billiton Plc Share code: BIL ISIN: GB0000566504 Date 01 February 2012 Number 03/12 DIVESTMENT OF INTEREST IN RICHARDS BAY MINERALS BHP Billiton has exercised an option to sell its 37% non-operated interest in Richards Bay Minerals (RBM) to Rio Tinto and will exit the titanium minerals industry. RBM is a South African mineral sands mining and smelting operation and the leading producer of chloride titanium feedstock. BHP Billiton holds a 37% equity stake in RBM with equity partners Rio Tinto (37%), Black Economic Empowerment (BEE) parties (24%) and employees (2%). Rio Tinto manages the operation and is responsible for the marketing of RBM`s products. As part of the restructuring of RBM in 2009, BHP Billiton and Rio Tinto concluded a put option agreement that made provision for BHP Billiton to sell its interest in RBM to Rio Tinto pursuant to an agreed valuation process. The parties will work together to facilitate a smooth transfer of BHP Billiton`s stake. Completion of the sale is conditional upon the fulfilment of customary regulatory approvals with the final consideration to be determined according to the agreed valuation process. BHP Billiton Southern Africa Chairman, Dr Xolani Mkhwanazi, said: "BHP Billiton`s position in RBM is a non-operated shareholding in an industry in which it holds no other interests. BHP Billiton will continue operating its Southern African energy coal, aluminium and manganese businesses in a sustainable manner." 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: email: James.Agar@bhpbilliton.com Samantha.Stevens@bhpbilliton.com Andrew Gunn Kelly Quirke Tel: +61 3 9609 3575 Tel: +61 3 9609 2896 Mobile: +61 439 558 454 Mobile: +61 429 966 312 email: Andrew.Gunn@bhpbilliton.com email: Kelly.Quirke@bhpbilliton.com United Kingdom and South Africa
Fiona Martin Tel: +61 3 9609 2211 Brendan Harris Mobile: +61 427 777 908 Tel: +44 20 7802 4131 email: Fiona.Martin2@bhpbilliton.com Mobile: +44 7990 527 726 United Kingdom and Americas email:Brendan.Harris@bhpbilliton.com Ruban Yogarajah Tara Dines Tel: US +1 713 966 2907 or Tel: +44 20 7802 7113 UK +44 20 7802 4033 Mobile: +44 7825 342 232 Mobile: UK +44 7827 082 022 Email : Tara.Dines@bhpbilliton.com email: Ruban.Yogarajah@bhpbilliton.com Americas
Scott Espenshade Tel: +1 713 599 6431 Mobile: +1 713 208 8565
email:Scott.Espenshade@bhpbilliton.com BHP Billiton Limited BHP Billiton Plc ABN 49 004 028 077 Registration number 3196209 Registered in Australia Registered in England and Wales Registered Office: 180 Lonsdale Street Registered Office: Neathouse Place Melbourne Victoria 3000 Australia London SW1V 1BH United Kingdom Tel +61 1300 55 4757 Tel +44 20 7802 4000 Fax +61 3 9609 3015 Fax +44 20 7802 4111 Members of the BHP Billiton Group which is headquartered in Australia Date: 01/02/2012 08:48:07 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.

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