Olympic Dam Update

​BHP Billiton today announced plans to transfer responsibility for its Olympic Dam operation to the Base Metals Customer Sector Group.

The announcement follows decisions in August this year to investigate an alternative, less capital-intensive design of the Olympic Dam open-pit expansion and to sell the Yeelirrie uranium asset in Western Australia to Cameco Corporation.

The incorporation into Base Metals will consolidate the management of the next phase of studies for the open pit expansion, align with the Company's cost control strategy in the current economic environment and position Olympic Dam to support BHP Billiton's long term copper strategy.

Darryl Cuzzubbo will continue as Asset President Olympic Dam, reporting to Peter Beaven, President Base Metals, for all operational matters. In addition, Darryl will assume a further role of President South Australia reporting directly to Chief Executive Non Ferrous, Andrew Mackenzie, for matters relating to the South Australian Government. He will also have responsibility for BHP Billiton's ongoing participation in the uranium industry globally.

The transition is expected to be completed by 31 March 2013.