🕐13.12.11 - 07:54 Uhr
BHP BILLITON NEWS
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_Latest News Updates_
[2]Empowerment Transactions
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Empowerment-Transaction.aspx
December 13, 2011
âBHP Billiton Energy Coal South Africa Limited (BECSA) today announced that
it has entered into an empowerment transaction with a black-owned consortium
led by Pembani Group (Pty) Limited.
The consortium, which will effectively
hold an eight per cent equity interest in BECSA, also includes a Broad-Based
Empowerment grouping.
Pembani, formerly Worldwide African Investment Holdings (Pty) Limited and
founded in 1994, is a diversified energy investment company with interests
in the mining and petroleum industry and is chaired by well known business
executive Phuthuma Nhleko, the former Group Chief Executive of MTN.
The shareholders of BECSA have also approved the implementation of an
Employee Share Ownership Plan (ESOP) in which participating employees will
hold a beneficial interest of two per cent equity in BECSA, further
enhancing BECSAâs Black Economic Empowerment (BEE) credentials.
Completion of the BEE Transaction and the introduction of the ESOP are both
conditional on BECSA receiving consent for those transactions from Eskom
Holdings (in addition to certain other minor technical conditions
precedent).
Furthermore, the company confirms that it has agreed to sell additional
resources to Kuyasa Mining in order to facilitate a longer mine life of its
operation near the town of Delmas.
The divestment of Delmas Colliery more
than ten years ago to create Kuyasa Mining was BECSAâs first black economic
empowerment transaction.
This latest deal will extend the life of Kuyasa and
create more value for the business and its employees.
BECSA has been on the transformation journey for more than a decade and
concluded numerous empowerment transactions through direct sales of assets
during this period.
In addition to Kuyasa Mining, BECSA has facilitated the
establishment and growth of several empowerment companies including Eyesizwe
Coal (which became Exxaro) and Optimum Coal Holdings.
In the process BECSA
also facilitated access to export capacity for BEE companies at the Richards
Bay Coal Terminal (RBCT) of around 10 million tonnes per annum.
This
represents more than one third of BECSAâs original RBCT capacity.
Through its previous direct sales of assets and the new empowerment
transactions announced today, BECSA is now in a position of more than
meeting the transformation requirements of the Mineral and Petroleum
Resources Development Act and Mining Charter and subsequently has received
conversion of all its old order mining rights.
BECSA acknowledges the
constructive and collaborative way in which the Department of Mineral
Resources facilitated the process of finalising this empowerment
transaction.
BHP Billiton President of Energy Coal, Jimmy Wilson, said: âBECSAâs
unwavering commitment to the objectives of the Mining Charter and the South
African economy will continue to drive us to play an active role in the
transformation of mining and economic empowerment of our peopleâ.
BECSA is the second largest exporter of thermal coal in South Africa.
The
company remains committed to South Africaâs transformation goals and
economy, as well as the socio-economic development of its host communities.
[3]Read on
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Empowerment-Transaction.aspx
_Other News___
[4]Petrohawk Form-10Q Filing With SEC
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Petrohawk-Form-10Q-Filing-With-SEC.aspx
December 06, 2011
[5]Review of Diamonds Business
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http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Review-of-Diamonds-Business-.aspx
November 30, 2011
[6]South Australian Parliament Ratifies Roxby Downs (Indenture Ratification)
(Amendment Of Indenture) Amendment Bill
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6.
http://www.bhpbilliton.com/home/investors/news/Pages/Articles/South%20Australian%20Parliament%20Ratifies%20Roxby%20Downs%20(Indenture%20Ratification)%20(Amendment%20Of%20Indenture)%20Amendment%20Bill.aspx
November 29, 2011
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