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BHPBill - Samarco update
The 12th Federal Court in Brazil has approved an additional 66 days for Samarco Mineração S.A. (Samarco), Vale S.A. (Vale), BHP Billiton Brasil Ltda (BHP Brasil) and the Federal Prosecutors to continue discussions on the negotiation of the framework for the settlement of the Public Civil Claims related to the Samarco dam failure. The extension will end on 25 June 2018. Until that time, the interim security arrangements and the current suspension of legal proceedings will remain in place.
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BHPBill - nine month operational review
BHPBill released their operational review for nine months ended 31 March 2018.
Highlights
- Full year production guidance remains unchanged for Petroleum, Metallurgical Coal and Energy Coal.
- Total Copper production guidance narrowed to between 1,700 and 1,785 kt, however guidance for Olympic Dam reduced to approximately 135 kt following a slower than planned ramp-up after the major smelter maintenance campaign.
- Iron Ore production guidance reduced to between 272 and 274 Mt (100% basis) reflecting car dumper reliability issues.
- Group copper equivalent production is expected to increase by 6% in the 2018 financial year.
- The exit process for Onshore US is progressing to plan, with bids expected by June 2018 and transactions potentially being announced in the first half of the 2019 financial year.
- In Petroleum, we have increased our footprint in the northern extension of the Wildling prospect in the US Gulf of Mexico through the acquisition of 33.33% interest in the Samurai prospect. We have also secured an option to purchase an additional 10% interest in the Scarborough development.
- All major projects under development are tracking to plan.
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