BHP corruption probe still alive in US

December 04, 2012
By MATT CHAMBERS
The Australian

BHP Billiton remains under investigation by US regulators over what is thought to be potential corruption in Cambodia, three years after the company was first asked for information by the US Securities and Exchange Commission.

BHP iron ore and coal boss Marcus Randolph yesterday confirmed an investigation by the US Securities and Exchange Commission was still open.

"There has been an ongoing SEC investigation and it continues to be a subject of discussion between ourselves and the US government," Mr Randolph said during a health, safety, environment and culture briefing yesterday.

"There has been a substantial investigation internally; we believe the issues have been addressed."

In its latest sustainability report, released in September, BHP said the SEC asked it for information in August 2009, prompting an internal investigation.

BHP said that after its internal investigation, it "disclosed to relevant authorities evidence that it has uncovered regarding possible violations of applicable anti-corruption laws involving interactions with government officials".

The SEC investigation reportedly concerns potential corruption involving up to $US3.5 million ($3.35m) of payments made in Cambodia from 2006. The payments are thought to relate to bauxite ground that BHP exited in 2009.

Asked whether anything could be gleaned from the length of the investigation, Mr Randolph said: "Governments are slow . . . if we had a choice, we'd like to have reviews as quickly as possible, but that hasn't happened here."