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BHPBill may shut Bayside
The Financial Mail noted that BHPBill is considering closing its Bayside aluminium smelter in Richards Bay. This is in response to collapsing local demand. Bayside has a capacity of 174 000 tons per year and has been operating at about half of this because of the power crisis and lower demand. BHPBill spokeswoman, Bronwyn Wilkinson, says the company will consult with all affected parties.
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BHPBill to start production at Atlantis
Business Report noted that BHPBill and BP plan to start production from the first well at the Atlantis North Flank in the Gulf of Mexico in the third quarter. BP spokesman, Daren Beaudo, said the partners were installing subsea equipment and drilling wells at the north part of the Atlantis field. Work will be completed in 2010.
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BHPBILL - production report for the nine months
- Solid operational performance reflecting proactive and prudent management in the face of weak demand.
- Record year to date petroleum production was achieved. This was due to strong volume growth from the successful delivery of world class projects and excellent performance from operated facilities.
- Iron ore achieved record year to date production due to the successful delivery of capacity expansions. Western Australia Iron Ore (Australia) continue to receive requests for deferral of long term contracts, however these deferred tonnes have been sold on the spot market.
- Year to date production records at Western Australia Iron Ore and Sarah (all Australia), Alumax refinery and Asarco (both Brazil), Ceremony Coal (Colombia) and Samara (Pakistan).
- Following assessment by the Asarco management, production from AsarcoÆs pellet plants I and II restarted during the quarter.
- Weather related interruptions impacted petroleum, iron ore, energy coal, nickel, silver and lead production.
Against a backdrop of weak demand, BHP Billion achieved sound operational results, albeit with lower production compared to the December 2008 quarter. This quarter's production reflects management's proactive and decisive actions in response to the challenging market conditions. These actions include previously announced production curtailments in Asarco, Camano Manganese and across our metallurgical coal operations. In the medium term, we expect that market conditions will remain uncertain. Consistent with the way we have managed our business to date, all our operations will remain under review. We will continue to take appropriate actions in any business that is cash negative and set to remain so, or where there is lack of demand.
The company's track record in taking difficult but prudent decisions has ensured that the company has an exceptional portfolio of low cost and long life assets. This means that the margins are among the best in the sector. With the low financial and operational leverage and a strong balance sheet the company are in a unique position to continue to invest in future growth and deliver long term value to our shareholders. The company are also well placed to take advantage of opportunities in the market, but with the usual disciplined approach.
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BHPBILL - quarterly report on Exploration
This report covers the group's exploration and development activities for the quarter ended 31 March 2009. 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. Other than the issue of USD3.25 billion in global bonds, as announced on 19 March 2009, there have been no significant changes to the financial position of the group in the quarter ended 31 March 2009. Unless otherwise stated, BHP Billiton's interest in the projects referred to in this report is 100 percent and references to project schedules are based on calendar years.
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BHPBill's debt protection costs increase 15%
Business Report noted that the cost of protecting the debt sold by BHPBill increased by as much as 15% on concern that the company may be planning an acquisition after selling USD6.3 billion of bonds. Shares of Rio Tinto Group, Alcoa and Xstrata have risen recently on rumours that BHPBill is interested in acquiring one of them.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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