Australian news, and some related international items

Lax controls in possibly corrupt BHP Billiton

BHP Reveals Possible Corruption  Australasian Investment Review – (AIR) 22 April 2010, BHP Billiton, the world’s biggest mining company, has joined its smaller rival, Rio Tinto, in being implicated in possible corrupt activities.The news was buried in the company’s first quarter exploration and development report, issued yesterday……
The ASX and or ASIC should ask BHP to provide more details as soon as possible……The disclosure laws here in Australia will have to be applied to see if BHP has provided timely and adequate disclosure to the local (and London) markets……There’s no word on whether the US Justice Department will become involved, but if it involves a breach of America’s bribery laws, it will.

If the reports are confirmed then authorities in countries in Europe, especially the European Commission and China could also become involved…..the fact that the allegations have been raised by the SEC shows the lax controls inside BHP, Australasian Investment Review

April 22, 2010 - Posted by | AUSTRALIA - NATIONAL, secrets and lies, uranium | , , , , , ,

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