BHP Billiton: Review of Diamonds Business

BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT) announced it is reviewing its diamonds business.

As quoted in the press release:

BHP Billiton’s strategy is to invest in large, long life, upstream and expandable assets while remaining a simple and scalable organisation. EKATI is a world class operation and Chidliak is a promising exploration opportunity, but many years of extensive exploration suggest there are few options to develop new diamond mines that are consistent with this approach.

This review will, therefore, examine whether a continued presence in the diamonds industry is consistent with BHP Billiton’s strategy and evaluate the potential sale of all or part of the diamonds business.

Click here to read the BHP Billiton (NYSE:BHP) press release.