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BHPB

Posted: Thu, 30 Apr 2009

[miningmx.com] -- Resources giant BHP Billiton has agreed to sell its bauxite and alumina refining interests in BHP Billiton Maatschappij Suriname (BMS) to US aluminium group Alcoa for an undisclosed amount, Alcoa said Wednesday, I-Net Bridge reported.

The acquisition will be done through Alcoa subsidiary Suriname Aluminium Company (Suralco) and is expected to be completed by June.

Suralco and BMS have been participants in mining and refining joint ventures in Suriname since 1984.

BMS currently has a 45% interest and Suralco a 55% interest in the joint ventures.

Prior to the establishment of the joint ventures, BMS had separately conducted mining operations in the country, while Suralco has been active in Suriname for almost 100 years.

Late in 2008, BHP Billiton informed the government of the Republic of Suriname that it had decided to discontinue its activities in Suriname at year end 2010.