BHP to Consider Selling Diamond Unit as Part of Review
Investing News Network - November 30th, 2011
Bloomberg reported BHP Billiton Ltd. (NYSE:BHP) will probably sell some or all of its diamond business.
Bloomberg reported BHP Billiton Ltd. (NYSE:BHP) will probably sell some or all of its diamond business.
As quoted in the market news:
BHP owns 80 percent of the Ekati diamond mine in Canada’sNorthwest Territories and 51 percent of the Chidliak exploration venture in the territory of Nunavut, the Melbourne-based company said yesterday in a statement. The Ekati stake is valued at $2.7 billion by BMO Capital Markets using a 10 percent discount rate.