BHP Billiton, the world's largest diversified resources company, has been named the diversified minerals and medals sponsor of the 2008 Olympic and Paralympic Games.

The Australia-based multinational inked its sponsorship deal with the Beijing Organizing Committee for the 2008 Olympic Games (BOCOG) here on Thursday.

In line with the sponsorship agreement, BHP Billiton will provide financial support to the 2008 Olympic and Paralympic Games as well as raw materials for the Olympic medals and the Paralympic medals.

"The Olympic medals are the symbols of honor and success, the vehicles of the Olympic motto and spirit as well as an important part of the Olympic image and look," said Wang Wei, BOCOG's executive vice-president and secretary general.

"We believe that with the strong support of BHP Billiton, the Beijing Games' need of diversified minerals will be fully met."

BHP Billiton CEO Chip Goodyear said that it is an honor for BHP Billiton to participate in this "defining opportunity for China on the world stage" and BHP Billiton's sponsorship of the 2008 Games reflected the company's commitment to the ideals embodied in the Olympic spirit and its long-term relationship with China.

"We are delighted to demonstrate our continued commitment to China and to the Olympic Movement by sponsoring the Beijing 2008 Olympic Games and the 2008 Paralympic Games," he said.

The Marketing Program of the 2008 Olympics consists of three tiers: partners, sponsors and suppliers. Up till now, 10 partners have been signed up, namely Bank of China, China Network, Sinopec, CNPC, China Mobile, Volkswagen, adidas, Johnson & Johnson, Air China and PICC P&C. The seven sponsors are UPS, Haier, Sohu, Yili, Tsingtao Beer, Yanjing Beer and BHP Billiton.

Source: Xinhua