BHP to sell diamonds unit for half a billion dollars

Mining giant BHP Billiton is to sell its diamonds business to Toronto-headquartered diamonds group Harry Winston for half a billion dollars, the company announced on Tuesday afternoon.

Mining giant BHP Billiton is to sell its diamonds business to Toronto-headquartered diamonds group Harry Winston for half a billion dollars, the company announced on Tuesday afternoon.

Under the terms of the $500m cash sale, Harry Winston will take over BHP's interests in the EKATI Diamond Mine and Diamonds Marketing operations, and will assume all of its obligations under EKATI's agreements with the Canadian government. All BHP employees associated with the diamonds subsidiary will move over to Harry Winston.

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