21 Aug 2019
DiamondWorld Directory
Home |
News
Home
BHP considers selling diamond business
It holds major stake in the Ekati mine and Chidliak project in Canada
By: Diamond World News Service
|
Dec 2 2011 5:10PM
|
Reference: 6527  

DecreaseIncrease

Mining major BHP Billiton is relooking at its diamond business with a purpose of understanding whether being part of this industry would be in sync with its strategy, and is considering selling either all or part of its diamond business. The company’s diamond assets include an 80 percent stake in the Ekati mine in Canada and 51 percent in the Chidliak exploration project, also in Canada.

The review is expected to conclude by end of January 2012.

Although the company notes the Ekati mine to be a world class operation and Chidliak as a promising exploration opportunity, it is also of the opinion that many years of extensive exploration have led to few options in developing new diamond mines that align with its growth approach. Yet even though a sale is being considered, the company is definite about pursuing only such options that preserve Ekati’s outstanding safety and environmental standards and protect the benefits that the mine has created for local communities. As such, the potential transactions will undergo a detailed analysis prior to a final decision and if not suited to expectations, then BHP Billiton will continue to operate the mine in a sustainable manner. As such, the company intends to maintain the legacy of the Ekati mine and its workers who have contributed to the economic growth and development in Northern Canada.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2019
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
Spotted: Who Wore What (August 2018)
Pictures: 4
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 16580
GJEPC Chairman Interview
Views: 15366
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 22224
Promo for IJ Awards 2012 at NDTV Profit
Views: 35069
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 38470
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 12759
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 36506
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 34471
Advertisement
KGK_Antwepr
Advertisement
M.Tarun
Member of:
Supporter of: