IBTimes reported BHP Billiton (NYSE:BHP) will sell its 51% stake in the Childiak diamond mine.
As quoted in the market news:
With the decision, Peregrine will become 100 per cent owner of Chidliak, a diamonds exploration venture on South East Baffin Island in Nunavut. It covers 860,000 hectares of property about 140 kilometres from Iqaluit. Although Peregrine had run the mine since 2006, it held only 49 per cent of the venture.