BHP Says SEC Conducting Probe Into Mineral Projects (Update1)

April 21 (Bloomberg) -- BHP Billiton Ltd., the world's largest mining company, said it's helping a U.S. Securities and Exchange Commission anti-corruption investigation into the termination of some mineral exploration projects.

BHP "has disclosed to relevant authorities evidence that it has uncovered regarding possible violations of applicable anti-corruption laws involving interactions with government officials," Melbourne-based BHP said today in a statement. The SEC has requested information and the company is also conducting its own investigation, it said. "It is not possible at this time to predict the scope or duration of the investigation or its likely outcome."

BHP spent $346 million on minerals exploration and $587 million on petroleum exploration in the nine months to March 31, the company said today in a report, disclosing the investigation. It expects capital and exploration spending to reach about $10 billion this fiscal year.

"We are limited in what we can comment on as the matter is still under investigation," BHP said today in an e-mail. "We can confirm that the SEC's requests for information primarily relate to certain terminated minerals exploration projects and not any activity in China, BHP Billiton's marketing activities or the sale of any of the company's products."

China last month jailed four executives from Rio Tinto Group, the world's third-largest mining company, for bribery and infringing commercial secrets. The executives included Stern Hu, the Australian executive who led Rio's iron ore unit in China.