16th May 2006 07:00
BHP Billiton PLC16 May 2006 16 May 2006 Number 16/06 BHP BILLITON SALE OF TINTAYA BHP Billiton today announced that it has reached agreement to sell its PeruvianTintaya mine to Xstrata plc ("Xstrata"). The sale also includes the nearbyundeveloped deposits of Antapaccay and Corrocohuayco. Total consideration for the sale is US$750 million; this number comprises US$634million for the shares plus the assumption of US$116 million of debt. Inaddition to this upfront payment, the sale includes a deferred payment componentwhich will be determined shortly after completion and based on current pricelevels is expected to be in the order of US$60 million. The transaction isexpected to be completed within two months with an effective date of 1 June2006. Additional payments will be made by Xstrata to BHP Billiton in specifiedcircumstances if the future LME copper price reaches certain levels between July2008 and June 2009, or the development of Antapaccay or Corrocohuayco proceedsprior to 2020. Mike Anglin, Chief Operating Officer Americas, BHP Billiton Base Metals said "InFebruary 2006 we embarked on a process to realise value for Tintaya. We arepleased to announce today an agreement to sell Tintaya to Xstrata. We lookforward to transitioning Tintaya, and our relationships at Tintaya, to Xstrataover the next two months." BHP Billiton will continue to maintain an active presence in Peru through itsexploration activities and its 33.8% interest in Antamina. Further information on BHP Billiton can be found on our Internet site:www.bhpbilliton.com Australia United KingdomSamantha Evans, Media Relations Mark Lidiard, Investor & Media RelationsTel: +61 3 9609 2898 Mobile: +61 400 693 915 Tel: +44 20 7802 4156 Mobile: +44 7769 934 942email: [email protected] email: [email protected] Jane Belcher, Investor Relations Illtud Harri, Media RelationsTel: +61 3 9609 3952 Mobile: +61 417 031 653 Tel: +44 20 7802 4195 Mobile: +44 7920 237 246email: [email protected] email: [email protected] United States South AfricaTracey Whitehead, Investor & Media Relations Alison Gilbert, Investor RelationsTel: US +1 713 599 6100 or UK +44 20 7802 4031 Tel: SA +27 11 376 2121 or UK +44 20 7802 4183Mobile: +44 7917 648 093 email: [email protected]: [email protected] BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209Registered in Australia Registered in England and WalesRegistered Office: Level 27, 180 Lonsdale Street Melbourne Registered Office: Neathouse Place London SW1V 1BHVictoria 3000 United KingdomTelephone +61 1300 554 757 Facsimile +61 3 9609 3015 Telephone +44 20 7802 4000 Facsimile +44 20 7802 4111 The BHP Billiton Group is headquartered in Australia This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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