Board has today approved US$283 million (BHP
share) in funding to develop the Ruby Project in Trinidad and Tobago.
and Brazillian miner Vale are joint venture partners, holding a 50% stake each in Samarco Mineracao SA.
The rating also takes into account BHP
's transparent capital allocation process with a net debt target in the range of USD10 billion-USD15 billion.
Chief Executive Officer Andrew Mackenzie said the investment in SolGold would give BHP
exposure to a high-quality copper exploration project in Ecuador, which is a highly prospective location for BHP
She was speaking at the handover ceremony of ICT equipment by the BHP
to the Ministry on Tuesday in Gaborone.
According to the all-cash deal agreed between BHP
and BP, the latter would acquire all the shares of BHP
subsidiary Petrohawk Energy Corporation which owns "extensive oil and gas production and resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana." The new owner of these assets would be BP's U.S.
In 2001, the then Treasurer, the Hon Peter Costello, agreed to a merger between BHP
Limited and Billiton plc subject to conditions considered necessary to protect the national interest.
The sale fits with BHP
's effort to shift its petroleum focus to the United States and more on oil, while boosting Woodside's resources without any exploration spending at a time when weak oil and gas prices have dented earnings.
In his new role, he will work alongside BHP
CCS's seven-strong team, which specialises in advising and guiding individuals and companies through all types of financial challenges.
The company's board said it believes that with a more focused portfolio, BHP
Billiton will be better placed to achieve further productivity benefits in its core portfolio, while creating a substantial new company, South32.
The cost of this project was kept within budget and BHP
's share of the funding was $192m, representing 36.04% of the capital.
's London-listed shares fell 4.5 percent on Tuesday.