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BHP faces possible sanctions following US corporate gifts investigation

16th August 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Mining giant BHP Billiton might face sanctions as investigations into corporate gifts continue, the miner reported on Friday.

In 2009, the US Securities and Exchange Commission (SEC) requested information from the company, prompting BHP to launch internal investigations and to disclose evidence regarding possible violations of anticorruption laws involving interactions with foreign government officials.

The issues relate primarily to previously terminated exploration and development options, as well as hospitality provided by BHP to top ranking Chinese officials during the 2008 Beijing Olympics.

The evidence has also been presented to the US Department of Justice (DoJ).

The Australian Federal Police subsequently also announced that it would start its own investigation into the matter.

BHP said on Friday that the SEC and DoJ have now notified the company that they were considering “enforcement actions”. Discussions on this matter were continuing.

The diversified miner said it was, at this stage, unable to predict an outcome, but noted that it was fully committed to operating with integrity, with company policy specifically prohibiting engaging in unethical conduct.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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