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BHPBill -- executive appointment
BHP Billiton announced today the appointment of Jimmy Wilson as President of its Stainless Steel Materials Customer Sector Group. In this role Mr Wilson will have responsibility for all aspects of BHP Billiton's Stainless Steel Materials businesses, including strategy, operations, and delivering growth within the group's strategic framework.
Mr Wilson will replace Mr Chris Pointon, who has announced his retirement from the company. Mr Wilson will be located in Perth, Australia, and will join BHP Billiton's Executive Committee. Mr Wilson will be replaced as President and COO for Nickel West by Marcelo Bastos. Mr Bastos was previously President and COO, Cerro Matoso based in Colombia. He will have overall responsibility for BHP Billiton's Nickel West business and will report to Mr Wilson.
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BHPBill quarterly production report
BHP Billiton today released their production report for the quarter ended 30 September 2006.
Highlights of the report include:
- Record quarterly production of aluminium from continuing operations.
- Iron ore production in line with the record production in the June 2006 quarter (excluding the Goldsworthy (Australia) suspension)
- Record quarterly production of manganese ore in response to stronger customer demand.
- Record quarterly production was achieved at Mozal (Mozambique), GEMCO (Australia), Zamzama (Pakistan), Paranam (Suriname) and Bayside (South Africa).
- Copper production negatively impacted by an industrial stoppage at Escondida (Chile).
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BHPBill quarterly development report
BHP Billiton released its quarterly development activity report for the period ending 30 June 2006, covering petroleum and mineral development activities.
The petroleum development report included details on the following projects:
- Atlantis South Development, Gulf of Mexico, USA (BHP Billiton 44%, non-operated);
- Neptune Development, Gulf of Mexico, USA (BHP Billiton 35%, operated);
- Stybarrow Development, Australia (BHP Billiton 50%, operated);
- North West Shelf Angel Development, Australia (BHP Billiton 16.67%, non- operated);
- Shenzi Development, Gulf of Mexico, USA (BHP Billiton 44%, operated);
The mineral development report included details on the following projects:
- Aluminium: Alumar Refinery expansion, Brazil (BHP Billiton 36%, non-operated);
- Base Metals: Spence, Chile (BHP Billiton 100%); Carbon Steel Materials Rapid Growth Project 3, Australia (BHP Billiton 85%, operated); Samarco Third Pellet Plant Project, Brazil (BHP Billiton 50%, non-operated);
- Diamonds and Specialty Products: Koala Underground Project, Canada (BHP Billiton 80%, operated) ; Stainless Steel Materials Ravensthorpe Nickel Project, Australia (BHP Billiton 100%) ; Yabulu Extension Project, Australia (BHP Billiton 100%).
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BHPBill quarterly report on exploration
BHP Billiton released its exploration report for the quarter ended 30 September 2006. The report included details of the petroleum exploration and appraisal wells drilled or in process of drilling during the quarter.
Minerals exploration: BHP Billiton continued to pursue global exploration opportunities for key commodities of interest utilising both in-house capabilities and the Junior Alliance Programme. Grassroots exploration continued on diamond targets in Angola and Canada; on copper targets in Mexico, Mongolia and the Democratic Republic of Congo; and on nickel targets in Australia and Russia. Exploration for iron ore, coal and bauxite was undertaken in a number of regions including Australia, Brazil and West Africa. During the quarter, BHP Billiton spent USD51 million on minerals exploration, all of which was expensed. Petroleum exploration expenditure was USD79 million, of which USD65 million was expensed.
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BHPBill responds enquiry on executive bonuses
In response to The Association of British Insurers stating that BHPBill breached its remuneration policy by paying bonuses to executives without shareholder agreement Illtud Harri, spokesperson for the group, noted that the payments were made due to exceptional circumstances due to record profits. Business Report noted that BHPBill stated it had permission to pay bonuses at its discretion.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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