Number 04/04

BHP Billiton confirmed today that the Supreme Court of Victoria has approved the dismissal of proceedings against BHP Billiton and Ok Tedi Mining Limited on the basis of a settlement reached with the plaintiffs last month.

BHP Billiton Chief Legal Counsel and Head of External Affairs, John Fast, said he was pleased with the outcome of the case, which confirms that the company has at all times complied with its obligations under the 1996 Ok Tedi Settlement Agreement.

“Importantly, the settlement also confirms that there are no further unresolved or outstanding matters in relation to the original terms of the 1996 Settlement Agreement.  This is consistent with the position taken by BHP Billiton at all times since 1996 and is the reason why we vigorously defended this action,” Mr Fast said.

BHP Billiton completed its withdrawal from the Ok Tedi Copper Mine in Papua New Guinea in February 2002 with the transfer of its 52% equity stake to the PNG Sustainable Development Program Limited.  The other current owners of the Ok Tedi Mine are the Government of Papua New Guinea and the Canadian Mining Company Inmet Mining Corporation.

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