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BIL
BIBLT
BHP Billiton Plc - Approves Koala Underground Project
BHP Billiton Plc
Share Code: BIL
ISIN: GB0000566504
NEWS RELEASE
28 June 2006
BHP BILLITON APPROVES KOALA UNDERGROUND PROJECT
BHP Billiton today announced the approval of the Koala Underground Project at
the EKATI Diamond Mine in Canada. The project will recover approximately 9.8
million carats of high value Koala diamonds over an eleven year production life
at a capital cost of approximately US$250 million (BHP Billiton share US$200
million). Initial production is expected in the December 2007 quarter and full
production is expected to be reached by mid calendar year 2009.
President Diamonds and Specialty Products, Alberto Calderon said: "Koala
underground will supply around 25% of the mine feed (3,300 tonnes per day) to
the plant while producing 40% of the diamond output by value. As well as
delivering margins three times greater than the material it displaces, this
development will also partially offset the natural decline in production grades
and quality that occurs as the mine matures. The development of the Koala
underground project follows the successful completion of the Panda underground
mine at Ekati, earlier this year. Panda was completed on time and on budget, and
is currently producing in excess of nameplate capacity."
BHP Billiton has an 80% interest in the EKATI Diamond Mine.
The information in this report that relates to Ore Reserves is based on compiled
data which was overseen by Denis Gratton P. Eng., B. Eng (Mining), and is a full
time employee of BHP Billiton Diamonds Inc. Mr. Gratton has sufficient
experience, which is relevant to the style and type of deposit and to the
activity that he is undertaking to qualify as a Competent Person as defined in
the 1999 edition of the "Australasian Code for Reporting of Minerals Resources
and Ore Reserves". The Competent Person consents to the inclusion in this report
of the matters based on their information in the form and context in which they
appear.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia United Kingdom
Samantha Evans, Media Relations Mark Lidiard, Investor & Media
Tel: +61 3 9609 2898 Relations
Mobile: +61 400 693 915 Tel: +44 20 7802 4156
email: Samantha.Evans@bhpbilliton.com Mobile: +44 7769 934 942
email: Mark.Lidiard@bhpbilliton.com
Jane Belcher, Investor Relations Illtud Harri, Media Relations
Tel: +61 3 9609 3952 Tel: +44 20 7802 4195
Mobile: +61 417 031 653 Mobile: +44 7920 237 246
email: Jane.H.Belcher@bhpbilliton.com email: Illtud.Harri@bhpbilliton.com
United States South Africa
Tracey Whitehead, Investor & Media Alison Gilbert, Investor Relations
Relations Tel: SA +27 11 376 2121 or
Tel: US +1 713 599 6100 or UK +44 20 7802 4183
UK +44 20 7802 4031 email: Alison.Gilbert@bhpbilliton.com
Mobile: +44 7917 648 093
email: Tracey.Whitehead@bhpbilliton.com
Date: 28/06/2006 01:35:13 PM Produced by the JSE SENS Department
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