BHP DEAL

BHP Billiton (BHP : 
 
Mineberia. Reuters reported that the mining giant has signed a $3-billion deal with Liberia to develop a large-scale iron ore
project, an official in the West African country said on Monday. The mineral development agreement (MDA) will allow BHP
Billiton to continue exploring for iron ore at Goe Fantro, Kintoma, St. John River South and the Tolo Range, National
Investment Commission Chairman Richard Tolbert said. "We are delighted to have reached this agreement with BHP Billiton
following 18 months of discussions," Tolbert said, adding the MDA was subject to approval by parliament. BHP Billiton said
the agreement sets out the legal and fiscal framework to develop the leases, including stabilization of taxes, duties and other
trade terms. "The Liberian leases are all proximate to the existing 250 km long rail corridor that runs from the Guinean border to
the Liberian coast," the company said in a statement. The deal comes as Liberia, which is recovering from a 1989-2003 civil
war, negotiates other potential mining accords after several deals in the past five years worth about $10 billion. In April, the
government said it was in talks with Brazil's Vale (VALE) over a possible concession. China Union got an iron ore concession
at the start of 2009 and India's ArcelorMittal (MT), Russia's Severstal, and AmLib Holdings Plc are also active in the country.