Deals
BHP to Consider Selling Diamond Unit as Part of Review
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BHP Billiton Ltd., the world’s largest mining company, will probably sell some or all of its diamond business, saying the operations have limited growth and may no longer fit its strategy.
BHP owns 80 percent of the Ekati diamond mine in Canada’s Northwest 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.