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BHPBill -- date of annual general meeting
BHPBill will hold its annual general meeting in Adelaide on 28 November 2007.
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BHPBill signs agreement on Congo smelter
Business Day reported that BHPBill has signed an agreement with the Democratic Republic of Congo to investigate building a USD3 billion aluminium smelter at Inga on the Congo River. The company has also agreed to pay for a prefeasibility study into building a third hydropower station at Inga, which will help supply electricity for the smelter. The proposed smelter would produce about 800 000 tons of aluminium annually in its phase and require 2 000MW of electricity.
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BHPBill -- production report Q3
BHP Billiton today released its production report for the quarter ended 30 September 2007. There have been no significant changes in the financial position of the Group in the quarter ended 30 September 2007.
- Quarterly production record achieved for iron ore, underpinned by strong demand. Western Australia Iron Ore`s Rapid Growth Project 2 (Australia) achieved nameplate capacity in the current quarter.
- Quarterly production records achieved at the Worsley, Western Australia Iron Ore, Illawarra Coal, Hunter Valley Coal (all Australia), Hillside (South Africa), Samarco (Brazil), and Cerrejon Coal (Colombia) operations.
- Quarterly production record achieved for natural gas and natural gas liquids at Bass Strait (Australia) and silver at Escondida (Chile) and Antamina (Peru).
- Petroleum production was in line with prior periods reflecting strong facility and reservoir performance offsetting natural field decline.
- Major operations were impacted by scheduled maintenance and tie- in activity associated with expansion projects.
Details of the report can be found in the original SENS announcement.
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BHPBill -- quarterly report on exploration
BHPBill released its quarterly report on exploration and development activities for the quarter ended 30 September 2007. There have been no significant changes in the financial position of the Group in the quarter ended 30 September 2007. Unless otherwise stated, BHP Billiton`s interest in the projects referred to in this report is 100 per cent and references to project schedules are based on calendar years.
Development
In October, oil production commenced at the Genghis Khan and Atlantis fields in the Gulf of Mexico.
Minerals Exploration
For the three months ended 30 September 2007, BHP Billiton spent USD143 million on minerals exploration of which USD109 million was expensed.
Petroleum Exploration
Petroleum exploration expenditure for the three months ended 30 September 2007 was USD124 million of which USD72 million was expensed.
Details for the quarter are available on the original SENS note.
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BHPBill's CEO says he see no margin declines
BHPBill's chief executive Marius Kloppers was quoted on Moneyweb's website as saying that given a tight supply-demand balance for the group's products, no margin declines were foreseen on the horizon. Kloppers said that iron ore, coking coal and manganese markets were tighter than he had ever seen and the supply-demand balance for copper was favourable. The company was confident that while costs were increasing it would continue to be able to pass 80% of the commodity price gains it secured straight through to the group's profits.
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BHPBill faces power outages at local smelters
A BHPBill spokeswoman was quoted on Moneyweb's website as saying that the company was facing power supply problems at its southern African aluminium smelters. This was after Eskom shut down power to some areas and urged consumers to save energy. However, BHPBill was unable to say whether the move by state-owned Eskom, called load shedding, would affect production. The company's spokeswoman went on to say that BHPBill has "had some load shedding in the past month" but was working closely with Eskom to mitigate the problem. She also said that there was a possibility of further load shedding in the coming week.
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BHPBill -- change to the board
As previously announced Chip Goodyear retired as Chief Executive Officer of BHPBill on 30 September 2007. He retired from the Boards of BHP Billiton Ltd and BHPBill on the same date but will remain with the Company until 1 January 2008. Marius Kloppers assumed the role of Chief Executive Officer from 1 October.
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