The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Peter Costello

Peter Costello

Treasurer

11 March 1996 - 3 December 2007

Media Release of 04/04/2005

NO.024

FIRB: BHP BILLITON GROUP/WMC

Exercising powers under the Foreign Acquisitions and Takeovers Act 1975 (the Act), I have decided that the Australian Government has no objection to the BHP Billiton Group’s (BHPB) proposed acquisition of all the issued shares of WMC Resources Limited (WMC) provided that BHPB complies with the conditions set out in Attachment A.

These conditions are in addition to previous conditions imposed under the Act, all of which remain in place.

CANBERRA
4 April 2005

Contact: David Alexander
02 6277 7340


ATTACHMENT A

BHPB’s undertakings, observance of which is a condition under Section 25 (1A) of the Foreign Acquisitions and Takeovers Act 1975 (the Act):

  1. BHPB will abide by all Australian federal and state laws and regulations relating to the mining and export of uranium;
  2. BHPB will undertake prior consultations with the Department of Industry, Tourism and Resources on the terms of any and all marketing arrangements it enters into with third parties in respect of uranium, which will be subject to all regulatory requirements imposed as part of the Australian Government's regulations and disclosure rules relating to uranium sales out of Australia.

This condition will have effect indefinitely, subject to amendment of the Act or any revocation or amendment by the Treasurer.