BHP says it’s close to resolving US graft probe

BHP Billiton says it may be close to resolving a US-led investigation into possible violations of anti-corruption laws.

BHP Billiton says it may be close to resolving a US-led investigation into possible violations of anti-corruption 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 US Securities and Exchange Commission in August 2009, the company conducted an internal investigation that found evidence of possible violations of anti-corruption 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 co-operate with the relevant authorities,” BHP said.

BHP, the world’s No 1 miner by market value, has previously defended itself.

“We believe our Olympics activities complied with all applicable laws,” it said in a statement last year.