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BHPBill -- share repurchase
BHP Billiton has announced that on 27 April 2006 it purchased 1 850 000 of its ordinary shares at an average price of 1126.1946 pence per ordinary share. It is intended that all of the purchased shares will be held as treasury shares. Following the above purchase, BHP Billiton holds 1 850 000 of its ordinary shares as treasury shares. The total number of ordinary shares in issue (excluding shares held as treasury shares) is 2 466 297 002.
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BHPBill -- pricing of Euro bonds
BHP Billiton announced today that it has priced EUR650 million of 4.125% Euro Bonds due May 2011. The proceeds will be used to repay debt incurred to fund the recent acquisition of WMC Resources Ltd.
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BHPBill appoints new executive committee member
BHP Billiton announced today the appointment of Mr Ian Ashby, President and Chief Operating Officer, Western Australian Iron Ore to the BHP Billiton Executive Committee. This appointment reflects the increasing importance of Western Australian Iron Ore in the BHP Billiton portfolio by separating the management of our extensive production and development activities in Western Australia from iron ore development activities in other regions. Ian will continue to be based in Perth and will report to Chris Lynch, Group President of Carbon Steel Materials.
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BHPBill appoints new Group President Energy
Phil Aiken (currently Group President Energy) has announced that he will retire from BHP Billiton on 31 December 2006. Following a search that started in late 2005, J. Michael (Mike) Yeager will be appointed to the position of Group President Energy, commencing 26 April 2006.
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BHPBill announces changes to the board
BHPBill announced the appointment of two additional non-executive directors, Paul Anderson and Jacques Nasser, to the board, effective 6 June 2006. Mr Anderson was managing director and CEO of BHP Billiton from 1998 to 2002, and presided over the merger of BHP and Billiton in 2001. He is currently chairman of Duke Energy having relinquished the CEO role following Duke's recent merger with Cinergy Corp. Mr Nasser had a 33 year career with the Ford Motor Company in various leadership positions in Europe, Australia, Asia, South America and the United States. He served as CEO of Ford from 1998-2001.
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BHPBill -- quarterly update March 06
Year to date production of nickel, copper, natural gas and aluminium rose 122%, 25%, 6% and 1% respectively. Record production was achieved at Hillside (South Africa), Escondida (Chile) and Cerrejon Coal (Colombia). Quarterly production records were achieved at Cerrejon Coal, and for oil at Angostura (Trinidad & Tobago) and gas at Zamzama (Pakistan). Petroleum, iron ore and nickel operations based in Western Australia were disrupted by cyclone activity and continuing wet weather. Ingwe (South Africa) was also impacted by higher than average rainfall. Total petroleum products production for the year to date March 2006 of 85.3 million barrels of oil equivalent was in line with the nine months to March 2005. Alumina production on a year to date basis was in line with the comparative period. March 2006 quarterly production increased compared to the December 2005 quarter primarily as a result of Worsley recovering from gas supply curtailments in the previous quarter. Aluminium production for the nine months and quarter ended March 2006 was in line with all comparative periods. Copper production for the nine months ended March 2006 was a record 956 400 tonnes, 25% higher than the March 2005 comparative period, reflecting year to date record performance at Escondida (Chile) and inclusion of a full nine months of production from Olympic Dam (Australia). Lead year to date production to March 2006 decreased against all comparative periods as a result of lower head grade and increased planned maintenance activity at Cannington during the March 2006 quarter. Zinc production increased against the March 2005 year to date and December 2005 comparative periods due to higher grade at Cannington. This was partially offset by a lower proportion of zinc contained ore processed at Antamina over recent quarters resulting in a decline against the March 2005 quarter. Uranium Oxide Concentrate production in the March 2006 quarter was lower than the December 2005 quarter as a result of lower grade and throughput at Olympic Dam. Iron Ore production was in line with the comparative period. Production decreased in the March 2006 quarter versus the March 2005 and December 2005 quarters following disruptions at Western Australian Iron Ore operations (Australia) due to cyclone activity, higher than usual rainfall in the Pilbara and maintenance work at Area C. Metallurgical Coal production was lower than the March 2005 comparatives. This primarily reflects reduced production at Queensland Coal (Australia) due to the depletion of reserves at Riverside and longer than scheduled dragline outages at South Walker Creek and Saraji. This was partially offset by increased production at Goonyella and the continued ramp up of Dendrobium and Broadmeadow (all Australia), commissioned in April 2005 and August 2005 respectively. Diamond carat production decreased in the nine months to March 2006 reflecting the processing of lower grade ore at Ekati (Canada). March 2006 quarterly production was lower than the December 2005 quarter due to the impact of planned changes to the mix of ore sources being processed. Fertiliser production was lower than the December 2005 quarter as a result of unplanned maintenance. Energy Coal production for the year to date March 2006 was in line with the nine months ended March 2005. Production for the March 2006 quarter was lower than the comparative periods mainly as a result of significantly higher than average rainfall at Ingwe (South Africa) and a planned outage for a longwall move at San Juan Coal (USA).
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BHPBill decline to Cannington production
Following an assessment of ground conditions, BHPBill will accelerate a programme of decline and stope access rehabilitation at the Cannington silver- lead-zinc mine in Australia from May to November 2006. This will impact production in the southern zone of the mine. The northern zone mining activities will remain unaffected. The primary reason for the programme is to ensure the safety of employees and contractors and is aligned with BHPBill's commitment to Zero Harm. In addition, this programme will reduce ground stresses that have the potential to limit long term production and should enable higher production levels than would otherwise be the case. Production is expected to return to normal levels by early 2007. The overall impact is expected to see a reduction in ore milled of approximately 20% over the remainder of FY2006 and FY2007. This will predominantly impact sales in the first half of FY2007.
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BHPBill completes AUD2.25bn share buy-back
BHP Billiton today announced the successful completion of its off-market buy- back of 96 million BHP Billiton Ltd shares, which comprises the first stage of its USD2 billion capital management programme. Due to the strong demand available at an attractive price, BHP Billiton increased the buy-back to AUD2.25 billion (USD1.6 billion), representing 1.6% of the issued share capital of the BHP Billiton group and 2.7% of BHP Billiton Ltd.
The final price for the buy-back has been set at AUD23.45 per share, representing a discount of 14% to the volume weighted average price (VWAP) of BHP Billiton Ltd shares over the 5 trading days up to and including the closing date of the buy-back.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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