Deals
BHP to Sell Diamond Project Stake to Peregrine for $8.7 Million
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BHP Billiton Ltd., the world’s largest mining company, agreed to sell its 51 percent interest in a Canadian diamond project to Peregrine Diamonds Ltd. as it continues to review its diamond business.
Peregrine, which already owns 49 percent and operates the project, said today in a statement it will pay C$9 million ($8.7 million) over three years and grant BHP a 2 percent royalty on any future production from the Chidliak project on Baffin Island in Nunavut territory.