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BHP Billiton - Samarco update
A Panel of four geotechnical specialists published its findings into the immediate causes of the failure of the Fundão tailings dam at the iron ore operations of Samarco Mineração S.A (Samarco) in Minas Gerais, Brazil, on 5 November 2015. Vale S.A. (Vale), BHP Billiton Brasil LTDA (BHP Billiton Brasil) and Samarco jointly commissioned Cleary Gottlieb Steen & Hamilton LLP (Cleary Gottlieb) to investigate the immediate cause of the failure. To assist with the investigation, Cleary Gottlieb retained the Panel to advise on the technical aspects of the failure and to conduct testing and analysis.
Panel findings
The Panel’s findings are the outcome of a 10 month investigation and scientific analysis involving experienced geotechnical engineers and seismologists, led by Dr Norbert Morgenstern, a University Professor of Civil Engineering and an authority in the field of Geotechnical Engineering. A full overview of the Panel’s findings, explanatory materials, detailed modeling, input data, a video and technical diagrams can be found at: Fundaoinvestigation.com
BHP Billiton Dam Review
BHP Billiton led an in-depth review of significant dams in its portfolio, drawing on both internal and external expertise to confirm the structural integrity of these facilities. This included a detailed review of dam design, construction and operations.
BHP Billiton has decided to create a centralised dam management function that will bring additional specialist expertise in-house at BHP Billiton. In addition, we will assess technology options to further enhance dam management across the portfolio. BHP Billiton has also assessed guidelines across the globe to determine leading practice in dam management. As an immediate step, BHP Billiton will apply the process for dam safety reviews developed by the Canadian Dam Association at all of our minerals assets. This process is regarded as the most rigorous in the industry.
Separately, BHP Billiton has contributed to a review initiated by the International Council on Mining and Metals (ICMM) into tailings management that will provide the industry with guidance to better manage the risks associated with tailings facilities. BHP Billiton will continue to work with the ICMM as they develop their framework and we will share with the ICMM the Panel’s findings and our lessons learned.
BHP Billiton Non-Operated Minerals Joint Venture Review
BHP Billiton is also reviewing the non-operated minerals joint ventures in our portfolio to identify any opportunities for enhancement, and to assess the optimal structure and approach. As an interim step, BHP Billiton will centralise management of all major non-operated minerals joint ventures in the Minerals Americas operating group.
In addition, we will enhance the application of risk management processes and establish a new BHP Billiton global standard for non-operated minerals joint ventures. BHP Billiton and Vale are also continuing to review operating arrangements at the Samarco joint venture. BHP Billiton remains focused on continuously improving safety and risk management in all of our operations, and we will continue to look for opportunities to make further improvements as we implement these actions.
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BHPBill - notice of dividend exchange rate
On 16 August 2016, the Board of BHPBill determined to pay a final dividend of USD14 cents per share for the year ended 30 June 2016. The currency exchange rate applicable for the dividend payable in South African cents to shareholders on the BHP Billiton Plc branch register is based on the exchange rate on 26 August 2016 and is set out below:
Dividend USD14 cents per share & Exchange rate & Dividend per ordinary share in local currency
- South African cents & 14.181000 & 198.534000
The exchange rates applicable to the BHP Billiton dividend being paid in other currencies will be based on the foreign currency exchange rates on the Record Date, being 2 September 2016, and will be announced to the market.
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BHP Billiton - 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 2016
The document may also be accessed via BHP Billiton’s website - www.bhpbilliton.com
The Webcast for this presentation can be accessed at: http://edge.media-server.com/m/p/fga4tpfi
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BHPBill - appointment of director
BHPBill announced the appointment of Ken MacKenzie to the BHPBill Board as an independent Non-executive Director, effective as of 22 September 2016.
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