Completion of the Acquisition of HWE Mining Subsidiaries
BHP Billiton has completed its acquisition of HWE Mining Subsidiaries from Leighton Holdings.
This follows the previously announced Heads of Agreement, signed on 9 August 2011.
The acquisition relates to the mining equipment and related assets that service the Area C, Yandi and Orebody 23/25 operations. These operations collectively account for almost 70 per cent of Western Australia Iron Ore’s total material movement.
BHP Billiton President Iron Ore, Ian Ashby said: “With the legal and due diligence processes now complete, our primary focus moves to ensuring the integration of the highly skilled workforce into the BHP Billiton business in a safe and efficient manner.”
The acquisition is consistent with BHP Billiton’s previously stated intention to move the Western Australia Iron Ore business from contract mining to owner-operator mining.
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