RNS Number : 7771Z
BHP Billiton PLC
05 September 2018
NEWS RELEASE
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Release Time
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IMMEDIATE
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Date
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5 September 2018
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Release Number
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15/18
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Copper Update - Agreement with Guyana Goldfields Inc
BHP has entered into an agreement with Guyana Goldfields Inc. (Guyana) to acquire its 6.1 per cent interest in SolGold Plc (SolGold), the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador.
BHP Chief Executive Officer, Andrew Mackenzie, said the investment in SolGold would give BHP exposure to a high quality copper exploration project in Ecuador, which is a highly prospective location for BHP.
"Consistent with our positive long-term outlook, copper is a key exploration focus for BHP as we seek to replenish our resource base and grow this important business."
Under the terms of the agreement with Guyana, BHP will acquire 103.1 million shares in SolGold. SolGold is listed on the London Stock Exchange (LSE) and the Toronto Stock Exchange.
The purchase price payable by BHP is 26.592 pence per SolGold share, representing a 20 per cent premium to the 20 day volume-weighted average LSE price of 22.16 pence per share as determined on 4 September 2018.
Further information on BHP can be found at bhp.com
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Media Relations
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Investor Relations
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Australia and Asia
Ben Pratt
Tel: +61 3 9609 3672 Mobile: +61 419 968 734
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Australia and Asia
Tara Dines
Tel: +61 3 9609 2222 Mobile: + 61 499 249 005
United Kingdom and South Africa
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Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
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James Wear
Tel: +1 713 993 3737 Mobile: +1 347 882 3011
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BHP Billiton Limited ABN 49 004 028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
Registered Office: Level 18, 171 Collins Street
Melbourne Victoria 3000 Australia
Tel +61 1300 55 4757 Fax +61 3 9609 3015
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BHP Billiton Plc Registration number 3196209
LEI 549300C116EOWV835768
Registered in England and Wales
Registered Office: Nova South, 160 Victoria Street
London SW1E 5LB United Kingdom
Tel +44 20 7802 4000 Fax +44 20 7802 4111
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