BHP Billiton Sells Alumina Mine Stake For $1 To Cut Risk

Law360, New York (November 2, 2012, 6:49 PM EDT) -- BHP Billiton Ltd. will sell its one-third stake in a Guinean aluminum oxide mine and refinery to one of its joint venture partners, Global Alumina Corp., in a nominal $1 deal that relieves the mining giant of its funding obligations and liability risk, Global Alumina said Friday.

Global Alumina already owns one-third of the Sangaredi Refinery Project and will see its stake rise to at least 50 percent and possibly as high as 66.67 percent, depending on whether its two remaining junior partners exercise an option...
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