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BIL
BIBLT
BIL - BHP Billiton Plc - Impairment of Ravensthorpe and Yabulu Nickel Operations
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
25 November 2008
Number 40/08
IMPAIRMENT OF RAVENSTHORPE AND YABULU NICKEL OPERATIONS
BHP Billiton`s operations are subject to regular reviews to ensure
appropriateness of asset carrying values. These reviews are based on the
prevailing and expected long term or future economic conditions. Following a
review of Ravensthorpe and Yabulu nickel operations (both Australia), a pre-tax
impairment charge of approximately US$2.1 billion (US$1.5 billion post-tax) will
be reflected in the group`s results for the half year ending 31 December 2008.
Due to the size and nature of the impairment this will be disclosed as an
Exceptional Item in BHP Billiton`s interim results.
The impairment of the Ravensthorpe and Yabulu operations is mainly due to the
significant deterioration in the nickel market, which has seen a dramatic fall
in demand, coupled with changes in the rate of production ramp up for
Ravensthorpe and the projected sustaining capital expenditure.
BHP Billiton will continue to review the operating performance and future value
of both operations in accordance with normal practice.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia United Kingdom & South Africa
Samantha Evans, Media Andre Liebenberg, Investor
Relations Relations
Tel: +61 3 9609 2898 Mobile: Tel: +44 20 7802 4131
+61 400 693 915 Mobile: +44 7920 236 974
email: email:
Samantha.Evans@bhpbilliton.co Andre.Liebenberg@bhpbilliton.
m com
Peter Ogden, Media Relations Illtud Harri, Media Relations
Tel: +61 3 9609 2812 Mobile: Tel: +44 20 7802 4195
+61 428 599 190 Mobile: +44 7920 237 246
Email: email:
Peter.Ogden@bhpbilliton.com Illtud.Harri@bhpbilliton.com
Leng Lau, Investor Relations United States
Tel: +61 3 9609 4202 Mobile: Scott Espenshade, Investor
+61 403 533 706 Relations
email: Tel: +1 713 599 6431
Leng.Y.Lau@bhpbilliton.com Mobile: +1 713 208 8565
email:
Scott.Espenshade@bhpbilliton.
com
Ruban Yogarajah, Media
Relations
Tel: US +1 713 966 2907 or UK
+44 20 7802 4033
Mobile: UK +44 7827 082 022
email:
Ruban.Yogarajah@bhpbilliton.c
om
BHP Billiton Limited ABN 49 BHP Billiton Plc Registration
004 028 077 number 3196209
Registered in Australia Registered in England and Wales
Registered Office: 180 Registered Office: Neathouse
Lonsdale Street Melbourne Place London SW1V 1BH United
Victoria 3000 Kingdom
Telephone +61 1300 554 757 Telephone +44 20 7802 4000
Facsimile +61 3 9609 3015 Facsimile +44 20 7802 4111
The BHP Billiton Group is headquartered in Australia
Date: 25/11/2008 10:37:01 Produced by the JSE SENS Department.
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