BHP Billiton Sells Falcon Mineral Search Technology
January 15, 08 by IDEX Online Staff Reporter
BHP Billiton has announced the sale of its Falcon geophysical technology to Fugro NV. BHP Billiton will retain exclusive use and priority access to the technology for minerals exploration until March 2010.
Although execution of the sale agreement is expected to be finalized in March, its completion is subject to the satisfaction of certain, unspecified, conditions.
The Falcon technology, jointly developed by BHP Billiton and Lockheed Martin, is deployed on aircraft operated by Fugro Airborne Surveys and used in diamond exploration.
Ian Maxwell, vice president of BHP Billiton Minerals Exploration, commented, "We have a long and productive relationship with Fugro Airborne Surveys and through this agreement we will continue to use Falcon technology through a world class geophysical service provider, as we focus our efforts on discovery of new mineral deposits."
