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BHPBill dividend currency exchange rate
On 20 August 2013 BHPBill declared a final dividend for the year ended 30 June 2013 of USD59 cents per share. The currency exchange rate applicable for the dividend payable in South African cents to shareholders on the BHPBill branch register is set out below:
- Exchange rate: 10.337500
- Dividend per ordinary share in local currency: 609.912500
The exchange rates applicable to the BHPBill dividend being paid in other currencies will be based on the foreign currency exchange rates on the Record Date, being 6 September 2013, and announced to the market on 9 September 2013. BHPBill shareholders registered on the South African section of the register will not be able to dematerialise or rematerialise their shareholdings between the dates of 2 and 6 September 2013, both dates inclusive, nor will transfers between the UK register and the South African register be permitted between the dates of 30 August and 6 September 2013, both dates inclusive. The dividend will be paid on 25 September 2013.
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BHPBill senior executive changes
BHPBill announced that Mike Fraser will join the Group Management Committee as President, Human Resources; part of the role currently held by Karen Wood.
Mike is currently Head, Group Human Resources based at the company's head office in Melbourne.
Karen Wood will remain a member of the Group Management Committee as President, Public Affairs. Having now completed the transition activities associated with the appointment of Andrew Mackenzie as Chief Executive she will continue to assist Andrew on a range of specific corporate and Board issues including development and succession and executive remuneration.
Mike will continue to be based in Melbourne. His appointment to the Group Management Committee is effective 27 August 2013.
Marcus Randolph, former Chief Executive Ferrous and Coal who retired from the Group Management Committee on 10 May, has returned from his period of sick leave and will retire from the company on 2 September 2013.
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BHPBill-- preliminary results presentation
The following document has today been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.hemscott.com/nsm.do:
BHP Billiton Results Presentation Year Ended 30 June 2013
http://www.bhpbilliton.com/home/investors/reports/Documents/2013/130820_BHPBilli tonPreliminaryResultsFY13Presentation.pdf
The document may also be accessed via BHP Billiton’s website - www.bhpbilliton.com - or using the web link above.
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BHPBill-- investment in Jansen Potash Project
BHP Billiton is investing USD2.6 billion to finish the excavation and lining of the Jansen Potash project production and service shafts, and to continue the installation of essential surface infrastructure and utilities. This investment will be spread over a number of years, with completion of both shafts expected during the 2016 calendar year, while the associated works program will extend into the 2017 calendar year.
The longer term outlook for potash, a fertiliser that improves the yield and quality of agricultural production, is strong. As the world’s population grows and incomes in emerging economies improve, agricultural demand is expected to rise. This will increase the need for potash and require the construction of new mines. Our projections assume a shift away from the current marketing dynamic and we believe the potash price will ultimately reflect the cost of adding new supply. Jansen is the world’s best undeveloped potash resource and is capable of supporting a mine with annual capacity of ten million tonnes for more than 50 years. With economies of scale and the use of modern mining techniques, Jansen is likely to be one of the lowest cost sources of supply once fully developed. The successful excavation and lining of both shafts will substantially reduce development risk and allow the company to time first production to meet growth in market demand.
BHP Billiton has also increased the in situ Mineral Resource tonnage estimate for Jansen, which incorporates: additional freehold mineral rights that have been acquired; advanced data analysis and improved estimation methods; and the inclusion of additional Inferred Resource within the granted mining lease. Resource confidence has also increased and we have converted significant tonnages of Indicated Resources to Measured Resources. Consequently, the updated resource estimate for Jansen increases to 5,328 million tonnes Measured Resource @ 25.7% K2O, 7.1% insolubles and 0.07% MgO and 1,288 million tonnes Inferred Resource @ 25.7% K2O, 7.1% insolubles and 0.07%MgO.
The Jansen Potash project is 100 per cent owned by BHP Billiton and is located 140 kilometres from Saskatoon, Canada. Today’s approval will take the Company’s total commitment to Jansen to approximately USd3.8 billion.
BHP Billiton has 100% equity.
%K2O potassium oxide, Insolubles insoluble content, MgO magnesium oxide. %MgO is generally used as a measure of carnallite (KCl.MgCl2.6H2O) content where % carnallite equivalent = %MgO x 6.8918. However, in the above statement the main source of the stated MgO content is the dolomite fraction of the insoluble material. Areas of known geological anomalies, carnallitite (which comprises carnallite, halite and minor associated insolubles) and privately owned mineral tenure, not yet acquired, have been removed from the estimate. The Mineral Resource is stated for the Lower Patience Lake potash unit. All material between the top 406 clay seam and base 402 clay seam has been included and no cut-off grade has been applied. No further modifying or mining extraction factors have been applied to the Mineral Resource.
Competent Person's Statement
The statement of Mineral Resource being presented is based on information compiled by the above named Competent Persons and relates to Mineral Resource estimates as at 30 June 2013. Competent Persons are full time employees of BHP Billiton, have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity they are undertaking to qualify as a Competent Person as defined in the JORC Code 2004. All Competent Persons are members of the Australian Institute of Mining & Metallurgy (AusIMM). The Competent Persons consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
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BHPBil-continuing regulatory investigations update
As previously disclosed BHP Billiton received a request for information in August 2009 from the US Securities and Exchange Commission (SEC). As a result the Group commenced an internal investigation and disclosed to relevant authorities including the U.S. Department of Justice (DOJ) evidence that it uncovered regarding possible violations of applicable anti- corruption laws involving interactions with foreign government officials. As has been publicly reported, the Australian Federal Police has indicated that it has commenced an investigation. The Group is fully cooperating with the relevant authorities as it has since the US investigations commenced.
As a part of the US process, the SEC and DOJ have recently notified the Group of the issues they consider could form the basis of enforcement actions and discussions are continuing. The issues relate primarily to matters in connection with previously terminated exploration and development efforts, as well as hospitality provided as part of the Company’s sponsorship of the 2008 Beijing Olympics. In light of the continuing nature of the investigations it is not appropriate at this stage for BHP Billiton to comment further or to predict outcomes. BHP Billiton is fully committed to operating with integrity and the Group’s policies specifically prohibit engaging in unethical conduct. BHP Billiton has what it considers to be a world class anti-corruption compliance program. Further information on BHP Billiton can be found at: www.bhpbilliton.com.
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