GO
Loading...

BHP faces possible US anti-corruption enforcement action

Getty Images

BHP Billiton said on Friday U.S. authorities have laid out grounds for possible enforcement action against the top global miner for corrupt practices, stepping up a four-year probe linked partly to its 2008 Olympics sponsorship.

The company has been under investigation by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) since 2009, mainly over exploration activities that had been terminated and its hospitality at the Beijing Olympic Games.

(Read more: Record output by BHP masks pain felt by next tier peers)

"As a part of the U.S. process, the SEC and DOJ have recently notified the Group of the issues they consider could form the basis of enforcement actions and discussions are continuing," BHP said in a statement, adding that it could not comment on possible outcomes.

BHP has said previously it believed it had complied with all applicable laws in regards to its Olympics sponsorship, and said on Friday it has what it considers to be a "world class anti-corruption compliance program."

(Read more: New BHP CEO takes pay cut as miners suffer)

"BHP Billiton is fully committed to operating with integrity and the group's policies specifically prohibit engaging in unethical conduct," the company said, adding that it was cooperating fully with the authorities.

After being approached by the SEC, the company said in 2010 that it had uncovered potential violations of anti-corruption laws "involving interactions with government officials", which media have said related to a payment to Cambodian officials in 2006 for a bauxite project that BHP later dropped.

(Read more: BHP faces questions over Olympics hospitality)

An SEC spokesman was not immediately available for comment.

The company released the update on the anti-corruption probe ahead of its annual results, due on Aug. 20, the first results under new Chief Executive Andrew Mackenzie.

Contact Crime

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

American Greed

  • A former Army intelligence officer known as "Mr. X" stole millions through a fake veteran's charity and eluded authorities by using an array of false identities. No one figured out who he really was or where he came from until he made one misstep ...

  • When reporter Jeff Testerman visits the home of retired navy commander Bobby Thompson, he finds quarters unfit for an officer.

  • Investigators follow a trail of stolen identities with plenty of twists and turns in the case of fugitive Bobby Thompson, a self-proclaimed retired navy lieutenant commander with a background in intelligence. His fingerprints are nowhere to be found in the United States, Canada or through Interpol.