BHP to Pay Colombia $20 Mln to Settle Dispute, Portafolio Says

Bloomberg reports BHP Billiton Ltd. (NYSE:BHP) agreed to pay the Colombian government an additional 35.3 billion pesos to settle a nickel mine royalties dispute.

The market news is quoted as saying,

The agreement paves the way for BHP to renew a contract to operate the Cerro Matoso nickel mine for 30 years, the Bogota- based newspaper said, citing Mines and Energy Minister Carlos Rodado. The Colombian mine has 21 million tons of nickel and accounts for about 4 percent of global output, Portafolio said, citing government figures.

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