🕐09.08.11 - 01:54 Uhr
BHP BILLITON NEWS
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_Latest News Updates_
[2]BHP Billiton to acquire HWE Mining subsidiaries
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP-Billiton-to-acquire-Hwe-Mining-subsidiaries.aspx
August 09, 2011
BHP Billiton has signed a Heads of Agreement with Leighton Holdings to
acquire the HWE Mining subsidiaries that provide contract mining services to
its Western Australia Iron Ore operations.
The Heads of Agreement relates to
the mining equipment, people and related assets that service the Area C,
Yandi and Orebody 23/25 operations.
These operations collectively account
for almost 70 per cent of Western Australia Iron Oreâs total material
movement.
The purchase price is US$735 million (A$705 million), subject to
working capital adjustments.
BHP Billiton President Iron Ore, Ian Ashby said: âWhile this move to an
owner-operator model will remove a layer of complexity and costs from our
business, the real focus of this proposed transaction is the work force.
Transitioning to owner operator in this way, rather than by replacing
contractors through direct recruitment, is a lower risk strategy as it would
be challenging to replace the highly skilled and long serving HWE employees
in the current environment.â
The proposed acquisition is consistent with BHP Billitonâs previously stated
intention to move the Western Australia Iron Ore business from contract
mining to owner-operator mining.
Subject to due diligence, definitive
agreements and relevant internal and regulatory approvals, the transaction
is expected to close during the fourth quarter of calendar year 2011.
[3]Read on
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP-Billiton-to-acquire-Hwe-Mining-subsidiaries.aspx
_Other News___
[4]BHP Billiton Approves GEMCO Phase 2 Expansion
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP-Billiton-Approves-GEMCO-Phase-2-Expansion.aspx
July 29, 2011
[5]BHP Billiton and Petrohawk Energy Corporation Announce Early Termination of
Waiting Period Under HSR Act
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP-Billiton-and-Petrohawk-Energy-Corporation-Announce-Early-Termination-of-Waiting-Period-Under-HSR-Act-.aspx
July 25, 2011
[6]BHP Billiton has released its Production and Exploration & Development
Reports for the year ended 30 June 2011.
Links:
6.
http://www.bhpbilliton.com/home/investors/news/Pages/Articles/BHP-Billiton-has-released-its-Production-and-Exploration--Development-Reports-for-the-Year-Ended-30-June-2011.aspx
July 20, 2011
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