Invest in Colombian Coal

BHP Billiton Limited
1 February 2002

     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 February 2002

Number: 05/02



           BHP BILLITON INCREASES INVESTMENT IN COLOMBIAN ENERGY COAL



BHP Billiton today announced that a consortium comprising subsidiaries of BHP
Billiton, Anglo American plc and Glencore International AG ('the Consortium')
has signed an agreement to acquire all of the ownership interests in
International Colombia Resources Corporation ('Intercor') from Exxon Mobil
Corporation.

Intercor owns 50 per cent of the Cerrejon Zona Norte (CZN) mining operation in
Colombia, as well as rail and port infrastructure in the region, and is the
operator of these assets. The other 50 per cent interest in CZN was acquired by
the Consortium from the Colombian Government in November 2000.

Following completion of the transaction, the Consortium will have 100 per cent
ownership of CZN. BHP Billiton and the other Consortium members will each have a
33.33 per cent interest in the operation (up from 16.67 per cent interest prior
to the acquisition).

The net asset value of Intercor is US$366 million. The transaction sale price
and terms have not been disclosed for confidentiality reasons. The individual
members of the Consortium will each fund their pro rata share of the purchase
consideration. Subject to the satisfaction of certain conditions, completion is
expected to take place within a month.

The CZN mine is an open-cut operation currently producing about 19 million
tonnes per annum of high-quality energy coal for export to international
markets. CZN has a reserve life of more than 30 years at current production
rates. The mine lies 18 kilometres north of Carbones del Cerrejon (CDC), an
energy coal mine also owned equally by the Consortium members. Significant
operational synergies have been identified that can be released through
combining the operations of CZN and CDC.

President BHP Billiton Energy Coal Mike Oppenheimer said the transaction
represented another step in realising BHP Billiton's energy coal strategy.

'Extending our Colombian supply position, in conjunction with our partners, is
an important component of our strategy for servicing continued strong growth in
global markets for seaborne traded coal,' he said.

'The Colombian operations are low-cost and have significant expansion potential.
Their geographically advantaged position opposite the United States and Europe
offers exciting prospects for growing our share of these major energy coal
markets and securing full value for our high quality products.'

'A key attraction of this acquisition is the combination potential with our
existing CDC business and the opportunity for BHP Billiton to become a more
active participant in energy coal in this region.'

                                    * * * *

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

Australia                                             United Kingdom/South Africa
Dr. Robert Porter, Investor Relations                 Michael Campbell, Investor & Media Relations
Tel: + 61 3 9609 3540 Mobile: [phone]         Tel: [phone] Mobile: [phone]
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Mandy Frostick, Media Relations                       Ariane Gentil, Manager Communications
Tel: [phone] Mobile: [phone]          Tel: [phone] Mobile: + 44 7881 518 715
email: [e-mail]               email: [e-mail]

United States
Francis McAllister, Investor Relations
Tel: [phone] Mobile: [phone]
email: [e-mail]



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