Mining giant BHP faces graft probe

World's biggest miner says it is cooperating with US corruption investigation.

    Anglo-Australian miner BHP Billiton is the world's biggest mining company [GALLO/GETTY]

    "The company has disclosed to relevant authorities evidence that it has uncovered regarding possible violations of applicable anti-corruption laws involving interactions with government officials," BHP said.

    'Internal investigation'

    "Accordingly, the company is cooperating with the relevant authorities including conducting an internal investigation, which is continuing."

    BHP is looking to combine its Australian iron ore operations with rival Rio Tinto [EPA]

    It added: "It is not possible at this time to predict the scope or duration of the investigation or its likely outcome."

    The statement was contained in BHP's quarterly report on production and exploration activities.

    The company said it had responded to requests for information on the case from the US markets watchdog, the Securities and Exchange Commission.

    The revelation comes as BHP seeks regulatory approval to combine its main iron ore operations in West Australia in a $116bn joint venture with Rio Tinto.

    Steelmakers in Asia and Europe have urged regulators to block the venture, saying it would give Rio and BHP undue influence on the price of iron ore.

    The price of ore has more than doubled on the spot market over the past 12 months amid a commodities boom fuelled by Chinese demand.

    BHP and Rio are the world's third- and second-largest producers of iron ore, respectively.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    Why did Bush go to war in Iraq?

    Why did Bush go to war in Iraq?

    No, it wasn't because of WMDs, democracy or Iraqi oil. The real reason is much more sinister than that.