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BIL
BIBLT
BIL - BHP Billiton plc - BHP Billiton exploration and development report for
the quarter ended 31 March 2011
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
News Release
20 April 2011
14/11
BHP BILLITON EXPLORATION AND DEVELOPMENT REPORT FOR THE QUARTER ENDED 31 MARCH
2011
This report covers the Group`s exploration and development activities for the
quarter ended 31 March 2011. Unless otherwise stated, BHP Billiton`s interest
in the projects referred to in this report is 100 per cent and references to
project schedules are based on calendar years.
Development
BHP Billiton approved major projects with a total investment value of US$9.8
billion (BHP Billiton share) during the March 2011 quarter. The progression of
these projects into execution forms a meaningful component of the company`s
anticipated organic growth program that is expected to exceed US$80 billion
over the five years to the end of the 2015 financial year.
At Western Australia Iron Ore (WAIO), a commitment was made to further expand
capacity to in excess of 220 million tonnes per annum (mtpa). BHP Billiton
also commenced the important expansion of its Metallurgical Coal business with
the approval of the 4.5 mtpa Daunia mine, the Stage Three Expansion of the Hay
Point Coal Terminal and the Broadmeadow Life Extension project. In addition,
BHP Billiton approved the RX1 Project at Hunter Valley Energy Coal and the
Escondida Ore Access Project (copper).
BHP Billiton`s longer term growth potential was further emphasised by the
progression of both the Olympic Dam Project (copper and uranium) and Jansen
Potash Project into feasibility.
The MAC20 Project (energy coal) was completed in the March 2011 quarter and
delivered first coal ahead of schedule and on budget. This project will no
longer be reported in future Exploration and Development Reports.
Project And Share Of Initial Production Quarterly
Ownership Approved Production Capacity (100%) Progress
Capex Target Date
US$M
Petroleum
Projects
Macedon 1,050 CY13 200 million On schedule and budget.
(Australia) cubic feet gas The overall project is
71.43% per day 18% complete.
Gas
Angostura Gas 180 H1 CY11 280 million On schedule and budget.
Phase II cubic feet gas Topsides commissioned
(Trinidad and per day and ready to deliver
Tobago) gas. The overall
45% project is greater than
Gas 99% complete.
Bass Strait 900 CY12(a) 10,000 bpd On revised schedule and
Kipper condensate and budget. Pipelines
(Australia) processing installed and subsea
32.5% - 50% capacity of 80 infrastructure
Gas/Gas Liquids million cubic installation in
feet gas per day progress. The overall
project is 73%
complete.
Bass Strait 1,350 CY13 11,000 bpd On revised schedule and
Turrum condensate and budget. Topsides
(Australia) processing nearing completion with
50% capacity of 200 substructure
Gas/Gas Liquids million cubic installation imminent.
feet gas per day The overall project is
60% complete.
North West 245 CY11 Replacement On schedule and budget.
Shelf CWLH Life vessel with Floating Production
Extension capacity of Storage and Offtake
(Australia) 60,000 bpd oil (FPSO) conversion
16.67% continues. Offshore
Oil construction activity
has commenced. The
overall project is 89%
complete.
North West 850 CY12 2,500 million On schedule and budget.
Shelf North cubic feet gas The overall project is
Rankin B Gas per day 65% complete.
Compression
(Australia)
16.67%
LNG
Minerals
Projects
Worsley 1,900 H1 CY11 1.1 million tpa Budget and schedule is
Efficiency & of additional under review.
Growth alumina Construction is 61%
(Australia) complete. The overall
86% project is 70%
Alumina complete.
Antamina 435 Q4 CY11 Increases ore On schedule and budget.
Expansion processing Engineering is 99%
(Peru) capacity to complete. Construction
33.75% 130,000 tpd is 40% complete. The
Copper overall project is 49%
complete.
Escondida Ore 319 Q2 CY12 The relocation Approval announced. See
Access (Chile) of the in-pit News Release dated 30
57.5% crushing and March 2011.
Copper conveyor
infrastructure
provides access
to higher grade
ore
WAIO RGP5 4,800 H2 CY11 Scope review On schedule and budget
(Australia) completed and based on original
85% integrated into scope. Engineering is
Iron Ore subsequent over 99% complete.
expansion Construction is 94%
approvals that complete. The overall
will increase project is 95%
WAIO capacity to complete.
220 million tpa
WAIO Jimblebar 3,300(b) Q1 CY14 Increases mining Approval announced. See
Mine Expansion and processing News Release dated 25
(Australia) capacity to 35 March 2011.
96% million tpa with
Iron Ore incremental
debottlenecking
opportunities to
55 million tpa
WAIO Port 1,900(b) H2 CY12 Increases total Approval announced. See
Hedland Inner inner harbour News Release dated 25
Harbour capacity to 220 March 2011.
Expansion million tpa with
(Australia) debottlenecking
85% opportunities to
Iron Ore 240 million tpa
WAIO Port 1,400(b) H2 CY14 Optimises Approval announced. See
Blending and resource and News Release dated 25
Rail Yard enhances March 2011.
Facilities efficiency
(Australia) across the WAIO
85% supply chain
Iron Ore
Daunia 800 CY13 Greenfield mine Approval announced. See
(Australia) development with News Release dated 25
50% capacity to March 2011.
Metallurgical produce 4.5
Coal million tpa of
export
metallurgical
coal
Broadmeadow 450 CY13 Increases Approval announced. See
Life Extension productive News Release dated 25
(Australia) capacity by 0.4 March 2011.
50% million tpa and
Metallurgical extends life of
Coal the mine by 21
years
Hay Point Stage 1,250(b) CY14 Increases port Approval announced. See
Three Expansion capacity from 44 News Release dated 25
(Australia) million tpa to March 2011.
50% 55 million tpa
Metallurgical and reduces
Coal storm
vulnerability
MAC20 Project 260 H1 CY11 Increases Project is complete.
(Australia) saleable thermal First coal delivered
100% coal production ahead of schedule and
Energy Coal by approximately on budget.
3.5 million tpa
RX1 Project 400 H2 CY13 Increases run-of-Approval announced. See
(Australia) mine thermal News Release dated 25
100% coal production March 2011.
Energy Coal by approximately
4 million tpa
(a) Facilities ready for first production pending resolution of mercury
content.
(b) Excludes announced pre-commitment funding.
Minerals Exploration
Grassroots exploration continued on copper targets in South America, Mongolia
and Zambia; nickel and copper targets in Australia; manganese targets in
Gabon; and diamond targets in Canada. Exploration for iron ore, coal, bauxite,
potash and manganese was undertaken in a number of regions including
Australia, Canada, South America and Africa.
For the nine months ended 31 March 2011, BHP Billiton spent US$428 million on
minerals exploration, of which US$356 million was expensed.
Petroleum Exploration
Exploration and appraisal wells drilled during the quarter or in the process
of drilling as at 31 March 2011.
Well Location BHP Billiton Equity Status
Deep Blue-1 Green Canyon Gulf of 31.875% Temporarily
Mexico (Noble operator) suspended
GC 723 Hydrocarbons
encountered
Petroleum exploration expenditure for the nine months ended 31 March 2011 was
US$247 million, of which US$199 million was expensed. Our petroleum
exploration expenditure for the 2011 financial year is now expected to be less
than US$600 million. The decrease is largely due to permitting delays in the
Gulf of Mexico.
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. There have been no significant changes in the
financial position of the Group in the quarter ended 31 March 2011.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia
Brendan Harris, Investor Relations
Tel: +61 3 9609 4323 Mobile: +61 437 134 814
email: Brendan.Harris@bhpbilliton.com
Samantha Stevens, Media Relations
Tel: +61 3 9609 2898 Mobile: +61 400 693 915
email: Samantha.Stevens@bhpbilliton.com
Amanda Buckley, Media Relations
Tel: +61 3 9609 2209 Mobile: +61 419 801 349
email: Amanda.Buckley@bhpbilliton.com
Kelly Quirke, Media Relations
Tel: +61 3 9609 2896 Mobile: +61 429 966 312
email: Kelly.Quirke@bhpbilliton.com
Fiona Martin, Media Relations
Tel: +61 3 9609 2211 Mobile: +61 427 777 908
email: Fiona.Martin2@bhpbilliton.com
United Kingdom & South Africa
Andre Liebenberg, Investor Relations
Tel: +44 20 7802 4131 Mobile: +44 7920 236 974
email: Andre.Liebenberg@bhpbilliton.com
United Kingdom & Americas
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.com
Americas
Scott Espenshade, Investor Relations
Tel: +1 713 599 6431 Mobile: +1 713 208 8565
email: Scott.Espenshade@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077
Registered in Australia
Registered Office: 180 Lonsdale Street
Melbourne Victoria 3000 Australia
Tel +61 1300 55 4757 Fax +61 3 9609 3015
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Registered Office: Neathouse Place
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Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Billiton group which is headquartered in Australia
Date: 20/04/2011 07:06:01 Produced by the JSE SENS Department.
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