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BHP investigation steps up

THE anti-corruption investigation by the US Securities and Exchange Commission and the US Departm...

Kristie Batten
BHP investigation steps up

The investigation relates to terminated exploration and development efforts, as well as hospitality provided as part of BHP’s sponsorship of the 2008 Beijing Olympics.

Today BHP said a request for information from the SEC in August 2009 prompted an internal investigation and disclosure to relevant authorities, including the DOJ, of evidence that was uncovered regarding possible violations of anti-corruption laws involving interactions with foreign government officials.

The Australian Federal Police are also investigating.

BHP said it was fully cooperating with all relevant authorities.

“As a part of the US process, the SEC and DOJ have recently notified the group of the issues they consider could form the basis of enforcement actions and discussions are continuing,” BHP said.

“In light of the continuing nature of the investigations it is not appropriate at this stage for BHP Billiton to comment further or to predict outcomes.”

The company added that it was fully committed to operating with integrity and its policies specifically prohibited unethical conduct.

“BHP Billiton has what it considers to be a world-class anti-corruption compliance program,” the company said.

BHP shares last traded 1.2% lower at $A36.88.

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