Aug 11 2005
BHP Billiton, the world’s largest diversified resources company, held an opening ceremony of its office in Mongolia on Wednesday August 10, 2005.
Opening the ceremony, BHP Billiton Executive Director Mike Salamon said: “We have a long term commitment to Mongolia and are looking forward to earning the opportunity to work with the people and Government of Mongolia in developing mineral resource projects. We intend that these projects will benefit the country’s economy and the livelihoods of all Mongolian people. This is an exciting time to be part of the mining industry’s dynamic growth and we believe that Mongolia will play a vital role in that growth.”
In his welcoming speech, Lu Bold, head of the Mineral Resources and Petroleum Authority of Mongolia, said: “BHP Billiton is known for its world class technical expertise and financial strength, and we welcome the entrance of such major foreign investors to the mining sector. We also welcome companies such as BHP Billiton which bring the world’s highest standards of community interaction, safety for the workforce and care for the environment.”
BHP Billiton has signed agreements with three companies that hold licenses in the South Gobi region - Bayfield Ventures, Asia Gold and Ivanhoe Mines - to conduct US$11.25 million worth of exploration. These exploration programs will use BHP Billiton’s unique FalconTM system, an airborne gradiometer that measures minute changes in the earth's gravity.
This advanced technology provides BHP Billiton with a strong advantage in the search for mineral deposits and has helped in the resource evaluation of many countries in the world.
“Our technology will greatly speed up the process of prospecting,” Mr Salamon said.
BHP Billiton is the world’s largest diversified resources company. The company operates in over 20 countries and is a leading supplier of coking and energy coal, iron ore, copper, aluminum, uranium, nickel, oil, natural gas, diamonds and silver. BHP Billiton was recently named "Company of the Year" at The Business in the Community Awards in London. This is the premier awards event in the United Kingdom supporting and encouraging corporate social responsibility. BHP Billiton is the first company in the extractive industries to receive the award and is the first recipient to be recognized for its global activities.
BHP Billiton has a market capitalization of around US$90 billion.
http://www.bhpbilliton.com