Friday, April 23, 2010

BHP Billiton (ASE:BHP) Head Downplays Probe

BHP Billiton (NYSE:BHP) (ASE:BHP) CEO Marius Kloppers said that he's always concerned about anything which could damage the reputation of the company, the current probe of the company concerning corruption isn't that big of a deal or widespread, and shouldn't have much impact going forward.

It seems whatever happened, it was localized in smaller markets, and wasn't connected to any major deals or countries.

Even the fact that it has become public was only because it was revealed in the quarterly report, and that because it was an "exploration issue."

The evidence in the case, which is reported connected to government officials, is being gone over by regulators in the U.S. and Britain. Australia has held back from pursuing the matter at this time, although it has been appraised of the situation by BHP.

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