BHP Reviews Two Other Mining Joint Ventures Following Samarco Dam Disaster

Iron Investing

Mining Weekly reported that BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT) is reviewing two other mining joint ventures in Peru and Colombia after the Samarco iron ore dam disaster in Brazil. As quoted in the market news: BHP told analysts and investors it was examining the structures of its Cerrejón coal joint venture in Colombia and its Antamina copper/zinc …

Mining Weekly reported that BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT) is reviewing two other mining joint ventures in Peru and Colombia after the Samarco iron ore dam disaster in Brazil.
As quoted in the market news:

BHP told analysts and investors it was examining the structures of its Cerrejón coal joint venture in Colombia and its Antamina copper/zinc JV in Peru after the Brazil disaster.
Two dams collapsed on November 5 in south-east Brazil, killing nine people and coating a two-state area with mud and mine waste. The Brazilian mine is owned and operated by Samarco Mineração, a joint venture of Anglo-Australian BHP and Brazil’s Vale. ”
We will look into, for our own benefit … the arrangements that we have at Samarco which mirror similar arrangements we have at Antamina and Cerrejón,” BHP CEO Andrew Mackenzie told a conference call.
BHP has two types of joint ventures where it does not operate the mines, he added, according to a transcript of his comments released by the company. Under some ventures, mostly in its petroleum business, another party is the operator, while in Samarco, Cerrejón and Antamina, there is a standalone company that is jointly owned.

Click here to read the full Mining Weekly report.

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