• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

BHP considers sale of diamond assets

Nov 29 2011 16:43 Reuters

Company Data

BHP BILLITON PLC [JSE:BIL]

Last traded 289
Change 9
% Change 3
Cumulative volume 2819270
Market cap 0

Last Updated: 24-04-2015 at 05:05. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

BHP cautious on economic uncertainty

BHP earmarks $1.2bn for Olympic Dam

Green groups lash BHP mega-mine

Glencore, Ramaphosa eye mining JVs

BHP's Olympic Dam expansion approved

BHP lifts iron ore output

 
London - BHP Billiton [JSE:BIL] the world's biggest miner, is considering selling all or part of its diamond assets, including its stakes in the EKATI mine and the Chidliak exploration project in Canada.

BHP said on Tuesday it was considering whether a continued presence in the diamond industry was consistent with its strategy of investing in large, long-life and expandable assets.

"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," the miner said.

The review of the diamonds portfolio is due to be completed by the end of January 2012.

BHP has an 80% stake in EKATI, which has produced an average of over 3 million carats of rough diamonds per year over the last three years, with annual sales representing about 10% of global diamond supply by value.

It owns a 51% stake in Chidliak, a venture with Peregrine Diamonds, operated by Peregrine.

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...