Mitsubishi Corporation, BHP Billiton Announce Mineral Exploration Agreement with Government of Cambodia

Tokyo, Oct 11, 2006 (JCN) - Mitsubishi Corporation and BHP Billiton have signed a mineral exploration agreement with the Royal Government of Cambodia to explore for Bauxite and to evaluate the potential for an alumina refinery.

The agreement requires a detailed evaluation of the Mondolkiri exploration licences in Eastern Cambodia to determine resourse size and quality, environmental and community issues, risks from unexploded ordinances, and the appropriate mining, processing and transport options.

Following the studies, due in the first half of 2008, the partners have the exclusive rights to negotiate a mining agreement with the government to develop the project. BHP Billiotn and Mitsubishi Corp previously partnered on the Mozal aluminium smelter in Mozambique.