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BHPBILL - iron ore output record
BHP Billiton the world's largest mining group reported record iron ore production figures for the quarter to September, amid signs of an improvement in global steel demand. The group said iron ore production rose 1% from the same time last year and 11% from the same time last year and 11% quarter-to-quarter to a company record of 30.1 million tons. The figures reflected increasingly positive economic news in much of the world, particularly China, a major iron ore consumer, BHP said. The company hinted that the increase in demand from China may slow down because the resource-hungry country's stockpiles " Over the last three months there has been increasingly positive economic news across most economies.
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BhpBill - exploration and development report
This report, together with the Production report, represents the Interim management statement for the purposes of the UK Listing authority's disclosure and transparency rules. There have been no significant changes to the financial position of the group in the quarter ended 30 September 2009. BHP Billiton's interest in the projects referred to in this report is 100% and references to project schedules are based on calendar years.
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BhpBill - production report
- Record quarterly iron ore production, despite the impact of tie-in activities associated with Rapid growth project.
- Record quarterly petroleum production achieved with the continued ramp up of commissioned projects and strong operating performance. On track to deliver 10 per cent compound annual growth for the 2010 financial year.
- Quarterly production records achieved at North West Shelf, Hunter Valley Energy Coal (both Australia) and Zamzama (Pakistan).
- Shenzi (USA) and Samarco (Brazil) operated above nameplate capacity during the quarter.
- During the quarter repairs to the Laguna Seca mill at Escondida (Chile) were successfully completed, however quarterly production was impacted due to the plant repair downtime.
- On 6 October 2009, one of the two haulage systems at Olympic Dam (Australia) was damaged. The company anticipates that ore hoisting will be at approximately 25% of capacity until full production resumes in the third quarter of the 2010 financial year.
Over the last three months there has been increasingly positive economic news across most economies. Chinese economic growth continues to be robust on the back of strong domestic focused consumption and infrastructure-based stimulus spending. China's re-stock of commodities is essentially complete and there is now evidence of higher than normal stockpiles across the supply chain. The company continues to look for Chinese imports to more closely reflect real demand over the remainder of 2009 calendar year.
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BHPBill -- update on joint venture
On 5 June 2009, BHP Billiton and Rio Tinto signed a non-binding agreement to establish a production joint venture covering the entirety of both companies' Western Australian iron ore assets. Under the terms of the agreement up to 15% of production was proposed to be sold by the joint venture, independent of BHP Billiton and Rio Tinto. Following discussions between the two companies, BHP Billiton and Rio Tinto have decided not to proceed with the joint venture marketing activity. As a result, all production from the proposed joint venture would be marketed separately by BHP Billiton and Rio Tinto. The two companies believe that this change will clarify the nature of the JV for customers and emphasise its focus on realising significant production and development synergies. BHP Billiton and Rio Tinto are pleased with progress towards definitive JV agreements and expect to finalise these agreements on schedule.
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BHPBill - publication of prospectus
The prospectus has been approved by the UK listing authority and is available for viewing.
Prospectus relating to the EUR10 000 000 000 Euro medium term note programme of BHP Billiton finance Ltd and BHP Billiton finance plc, guaranteed (in respect of notes issued by BHP Billiton finance Ltd) by BHP Billiton Ltd and (in respect of notes issued by BHP Billiton finance plc) by BHP Billiton plc.
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