BHP Billiton Ltd. said it may be close to resolving a U.S.-led
investigation into possible violations of anticorruption laws, some
of which relate to the mining company's sponsorship of the 2008
Olympics in Beijing.
"The group is currently discussing a potential resolution of the
matter, " BHP said in its annual report. "It is not appropriate at
this stage for BHP Billiton to predict outcomes."
A spokesman wouldn't comment further.
After receiving requests for information from the U.S.
Securities and Exchange Commission in August 2009, the company
conducted an internal investigation that found evidence of possible
violations of anticorruption laws involving interactions with
government officials.
BHP said the investigation related primarily to
previously-terminated exploration and development projects and
"hospitality" provided as part of its Olympic Games
sponsorship.
The Australian Federal Police have also been investigating the
matter. "The group continues to fully cooperate with the relevant
authorities," BHP said in its report.
BHP, the world's No. 1 miner by market value, has previously
defended itself. "We believe our Olympics activities complied with
all applicable law," it said in a statement last year.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires