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BHP Billiton Posted: Thu, 15 May 2008 [miningmx.com] -- BHP Billiton, the world's largest mining company, has reached agreement to sell Optimum Colliery, a thermal coal mine within BHP Billiton's South African portfolio, said I-Net Bridge citing the company. In addition, BHP Billiton will also sell 6.5 million tonnes/year of Richards Bay Coal Terminal entitlement. The of the entitlement and Optimum Coal will be to Optimum Coal Holdings (OCH), an black economic empowerment consortium. OCH is a broad-based BEE grouping led by Eliphus Monkoe, a previous COO of BHP Billiton Energy Coal South Africa. OCH has 65% BEE ownership, including 12.5% to be issued each to employees and communities. The sale will be effective from 1 July 2007, however BHP Billiton will continue to manage and operate Optimum until completion, said I-Net Bridge.
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