BHP reviews diamond business
Anglo-Australian mining giant BHP Billiton is looking at exiting its diamond business because of limited development opportunities.
Anglo-Australian mining giant BHP Billiton is looking at exiting its diamond business because of limited development opportunities.
The company said many years of extensive exploration suggested there were few options left at its EKATI and Chidliak projects in Canada.
"BHP Billiton's strategy is to invest in large, long life, upstream and expandable assets while remaining a simple and scalable organisation," the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"EKATI is a world class operation and Chidliak is a promising exploration opportunity, but many years of extensive exploration suggest there are few options to develop new diamond mines that are consistent with this approach."
The review will examine whether a continued presence in the diamonds industry was consistent with the strategy and evaluate the potential sale of all or part of BHP's diamonds business, the firm said.
The EKATI mine is located 200km kilometres south of the Arctic Circle and BHP said it would work to ensure the site continued to bring social and economic benefits to the region.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Annual house price growth halves to 3.5% – ONS
Average UK house prices rose by just 3.5% in the 12 months to April, as stamp duty changes deterred buyers. What’s the outlook for the rest of 2025?
-
Nationwide pays £100 to millions of people – have you received the payment?
Nationwide has started paying its £100 Fairer Share bonus and expects to complete payments by 4 July. We look at who will get it and when.