BHP Billiton Limited (ASX:BHP) has inked a deal to sell its 51 per cent stake in the Chidliak diamonds exploration project in Canada for $8.7 million.
The sale comes less than one month after the global miner said it would review its diamonds business and evaluate a potential sale.
BHP will receive $8.7 million from Chidliak’s original owner and BHP’s joint venture partner and keep a two per cent royalty on future production from Chidliak.
The transaction is expected to be completed by the end of January 2012.
BHP Billiton generated a record net profit of $22.3 billion in the 2011 financial year.
