Acquisition Dia Met Completed

BHP Billiton Limited
1 November 2001


    BHP Billiton Limited is issuing this announcement to fulfil disclosure
 obligations arising from its secondary listing on the London Stock Exchange.

   The text of this release is identical to that issued by BHP Billiton Plc
                                   earlier.



Date: 1 November 2001

Number: 26/01


                BHP BILLITON ACQUISITION OF DIA MET COMPLETED

BHP Billiton today announced that it had successfully completed its
acquisition of Dia Met Minerals Ltd (Dia Met) following the purchase of all
outstanding Class A subordinate voting shares (Class A shares) and Class B
multiple voting shares (Class B shares), for C$21.00 per share.  The
acquisition of outstanding shares was completed at the same price as BHP
Billiton's previous offers and values Dia Met's equity at C$648 million.

At the expiry of the offers on 3 July 2001, BHP Billiton had received
acceptances for 98.6 per cent of the Class A shares and 88.7 per cent of the
Class B shares.  All conditions of the offers, including a minimum acceptance
of 75 per cent of both classes of shares, were met at that time.

BHP Billiton subsequently exercised its statutory right to compulsorily
acquire the remaining Class A shares and completed the purchase of these
shares on 20 September 2001.  In addition, BHP Billiton proposed the
amalgamation of Dia Met with the acquiring entity, Tortilla Acquisition Inc.
The amalgamation was approved by an order of the British Columbia Supreme
Court, with an effective date of 30 October 2001.  As a result of the
amalgamation, the former holders of Class B shares will receive a cash payment
of C$21 per share.

BHP Billiton Minerals Chief Development Officer Marcus Randolph said: 'The
EKATITM Diamond Mine continues to be a great success for BHP Billiton and the
acquisition of Dia Met ensures we will have ongoing access to the rough
diamonds to strengthen our marketing activities through the EKATITM and
AuriasTM brands.  We are currently witnessing strong demand for these branded
products.'

Dia Met is a Canadian mineral exploration and development company with a
primary focus on diamonds.  The company's principal asset is a 29 per cent
joint venture interest in the EkatiTM Diamond Mine, Canada's first commercial
diamond mine.  BHP Billiton is the operator of the EkatiTM Diamond Mine and
the acquisition of Dia Met increases its interest in the joint venture from 51
per cent to 80 per cent.  Mr Charles Fipke and Mr Stewart Blusson own 10 per
cent of the joint venture respectively.

                                   * * * *

Further information can be found on our Internet site: 
http://www.bhpbilliton.com

Australia                          United Kingdom

Dr. Robert Porter, Investor        Ariane Gentil, Manager
Relations                          Communications

Tel: + 61 3 9609 3540              Tel: [phone]       
Mobile: [phone]            Mobile: + 44 7881 518 715
                                   email: [e-mail]
email: [e-mail]


Mandy Frostick, Media Relations

Tel: [phone]
Mobile: [phone]
email:[e-mail]


South Africa                       United States

Michael Campbell, Investor & Media Francis McAllister, Investor
Relations                          Relations
Tel: [phone]               Tel: [phone]         
Mobile: [phone]            Mobile:  [phone]
email:                             email:
[e-mail] [e-mail]

  BHP Billiton Limited ABN 49 004 028 077      BHP Billiton Plc Registration
  Registered in Australia                      number 3196209
  Registered Office: 600 Bourke Street         Registered in England and Wales
  Melbourne Victoria 3000                      Registered Office: 1-3 Strand
  Telephone [phone]                    London WC2N 5HA United Kingdom
  Facsimile [phone]                    Telephone [phone]
                                               Facsimile [phone]

             The BHP Billiton Group is headquartered in Australia