2007 Financial statements

Note 42 - Sales agreements after the balance sheet date

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1. On 5 March 2008, the Group completed the sale of its interest in the Cortez gold mine (previously in the Copper product group) for cash consideration of US$1,695 million. The Group will benefit from a deferred additional payment in the event of a significant discovery of additional reserves and resources at the Cortez mine and will also retain a contingent royalty interest in the future production of the property.
2. On 12 February 2008, the Group announced an agreement to sell its joint venture interest in the Greens Creek mine to Hecla Mining Company. Greens Creek, which mines silver, gold, zinc and lead, is currently part of the Copper product group. The sale price is US$750 million, comprising a cash component of US$700 million with the balance in the common stock of the buyer. Closing is subject to customary conditions, including expiration of the waiting period under the Hart-Scott-Rodino Act.