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BHPBill -- force majeure declared
The recent extreme weather across the central Queensland coalfields has impacted production from BHP Billiton Mitsubishi Alliance (BMA) operations. Continued assessment of the full impact of the weather is taking place to determine a safe resumption of operations. Until then, coal processing and the loading of vessels will be delayed. As a result, BMA has advised customers that we have declared force majeure. The company will continue to work with customers and inform them of the return to full operations and production and the lifting of force majeure.
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BHPBill -- half year production report
Production was significantly up in 13 commodities, with record or equal record production achieved in seven major commodities during the half year ended December 2007. These records were delivered in 12 assets across six of the nine Customer Sector Groups. Details of the production report are available from the original SENS message.
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BHPBill -- quarterly exploration and development
BHPBill has released the company's exploration and development report for the quarter ended 31 December 2007. Details can be viewed in the original SENS note. Further details of the project's capital cost will be made available when the group announces its interim results on 6 February 2008.
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BHPBill -- approves investment in Newcastle
BHPBill announced approval of the Newcastle Third Port Project, with a capital investment of USD390 million (BHP Billiton`s share as advised by Newcastle Coal Infrastructure Group Pty Ltd (NCIG)). The Project, managed by NCIG, involves the construction of a 30 million tonne per annum (Mtpa) export coal loading facility with a future option to expand to 66Mtpa.
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BHPBill declines to raise Rio Tinto bid
According to Business Report, BHPBill sent shares in Rio Tinto plc downward, falling the most in five months in London trading on Monday, 22 January 2007, after BHPBill never came forward with an improved offer. This went against market expectations. BHPBill would reveal whether or not it has decided to proceed with its takeover offer for its rival on 6 February 2007.
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BHPBill rumoured to increase Rio Tinto offer
According to Business Report, BHPBill is rumoured in the market to be willing to increase its bid for Rio Tinto plc ("Rio Tinto") to 3.5 shares for one Rio Tinto share, in addition to a cash component. Rio Tinto chief executive Tom Albanese has said that he would not be averse to accepting a higher offer from BHPBill, although the company was happy to grow on its own. BHPBill has until 6 February 2007 to make a formal offer under a deadline imposed by the UK Takeover Panel.
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BHPBill to delay expansion because of power cuts
BHPBill spokesperson Bronwyn Wilkinson was quoted in Business Report as saying that the group needed extra power to expand its assets, such as its two aluminium smelters, and the power was not available. This meant the company's expansion was being stymied. Competitor Anglo American plc ("Anglo"), said via spokesperson Pranill Ramchander that Eskom's plans to stall new developments would affect projects that Anglo had planned.
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BHPBill's oil search reaches an impasse
BHPBill was said by Business Report to have reached an impasse with the government over the conversion of its exploration leases to new order mining rights. A major obstacle is understood to relate to the department of minerals and energy's insistence that local courts arbitrate in disputes instead of the International Court of Arbitration. The company is the operator of two potentially petroleum-producing exploration blocks off South Africa's west coast.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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