BHP Billiton to Review Diamond Interests

By Bizclik Editor

 

BHP Billiton announced today plans to review its diamonds business, specifically in respect to the interests of the EKATI Diamond Mine in the Northwest Territories and the Chidliak exploration project in Nunavut, Canada.

As BHP Billiton’s company strategy is focused on investing assets that are seen as large, long life, upstream and expandable investments, BHP is considering on how to move forward with its diamond assets. The EKATI operation has proven itself successful since the discovery of diamonds in Canada in 1991 while the Chidliak operations are also quite promising, but BHP Billiton says the company does not see proof of many further options in developing new diamond mines.

As BHP Billiton reviews its business, the company plans to analyze its strategy, potentially selling part or all of its diamond business, while keeping in mind the importance of the diamond mines to local economy and workforce.  BHP Billiton plans to only pursue options that will preserve EKATI’s world class operations including its safety and environmental standards while protecting the benefits the mine brings to its local community.

 

SEE RELATED STORIES FROM BUSINESS REVIEW CANADA

Click here to read the latest issue of Business Review Canada

“EKATI has made a substantial contribution to economic growth and development in the North ever since diamonds were first discovered there in 1991.  Its success is a credit to the great team working at the mine and the strong partnerships they have built with Aboriginal communities and local businesses,” said Tim Cutt, BHP Billiton Diamonds & Specialty Products President. “The review we’ve announced today will seek to maintain this legacy so that EKATI continues to bring social and economic benefits to the North while remaining a great place to work.”

BHP Billiton’s review of its diamonds business is expected to be conducted and completed by late January 2012. 

Share

Featured Articles

DEI done right: Brook Sims, COO, MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Q&A: China’s ecommerce innovator Jeff Li, CEO of Shoplazza

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

How hybrid work is revolutionising the physical office

As hybrid work models roll out worldwide, the purpose of the office is changing with collaboration, connection and networking taking centre stage

Trailblazer: Shanique Bonelli-Moore, DEI chief at Clorox

Sustainability

Dean Forbes – the Forterro CEO aiming for the moon

Leadership & Strategy

Why becoming a B Corp is good for business

Sustainability