BHP Billiton Transferring Equipment in Ethiopia to Other Mining Companies

BHP Billiton is transferring the equipment it imported into the country through tax free privileges to other mining companies,
after withdrawing from mining explorations in the country two months ago. The company will be retaining some of its larger equipment.

The Anglo-Australian mining company imported the equipment estimated to be worth several millions of dollars and which includes vehicles and other production tools as part of the tax free incentive scheme facilitated for investors in the sector.

The companies given the go ahead to purchase the equipment from BHP are Ethio-Potash, Allana Postash and Sheba Mining.

The reason for the company’s withdrawal from its concession in the Dallol region of Ethiopia is still not clear. It is estimated that the company invested more than 300 million dollars on exploration activity and complementary projects in its prospecting for potash according to sources.

The company had also conducted seismic survey and drilled boreholes to make resource estimates on its concession.

BHP Billiton is an international oil and gas company headquartered in Melbourne, Australia and with a large office in London, United Kingdom. It was said to be the world’s largest mining company according to its 2011 revenues and  the world’s third-largest company on the basis of market capitalization.

 

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