Tuesday, May 16, 2006

Mining: BHP sells Peruvian mine to Swiss-based Xstrata Plc

BHP Billiton Plc, has agreed to sell its Peruvian Tintaya copper mine to Swiss-based miner Xstrata Plc for $750 million.

The $750 million sale price comprises $634 million for the shares plus $116 million of debt, BHP said in a statement to the Australian Stock Exchange.