BHP To Snag Athabasca Potash For $320M

Law360, New York (January 28, 2010, 7:30 PM EST) -- Mining giant BHP Billiton Ltd. revealed a plan Thursday to shell out $320 million for Canada's Athabasca Potash Inc., which holds one of the largest exploration permit areas in the Saskatchewan basin.

BHP's Canadian unit, BHP Billiton Canada Inc., said the all-cash deal will help further its strategy of building its position in the potash-infused Canadian province of Saskatchewan, where API is based.

BHP Billiton Diamonds & Specialty Products President Graham Kerr said the acquisition fit well with the company's existing projects.

“Today's announcement is consistent...
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