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BIL 201407230004A
Operational Review for the Year Ended 30 June 2014
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release Time IMMEDIATE
Date 23 July 2014
Number 11/14
BHP BILLITON OPERATIONAL REVIEW FOR THE YEAR ENDED 30 JUNE 2014
• Strong operating performance delivered a 9% increase in Group production with annual records
achieved across 12 operations and four commodities.
• Western Australia Iron Ore achieved a fourteenth consecutive annual production record as volumes
increased to 225 Mt (100% basis), significantly exceeding initial full-year guidance. We now expect
production of 245 Mt (100% basis) from the Pilbara in the 2015 financial year.
• Metallurgical coal production of 45 Mt exceeded full-year guidance as Queensland Coal achieved
record production and sales volumes.
• Copper production increased to 1.7 Mt as an improvement in mill throughput and concentrator
utilisation offset grade decline at a number of operations.
• Petroleum production increased by 4% to a record 246 MMboe with an 18% increase in liquids
volumes underpinned by significant growth at Onshore US and Atlantis.
• Six major projects were completed and another two projects achieved first production, including the
Caval Ridge coal mine which was completed ahead of schedule and under budget in the June 2014
quarter.
BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “Our focus on productivity has resulted in
a significant improvement in operating performance at each of our major businesses this year, with a
nine per cent(1) increase in Group production and record output at 12 operations. Western Australia Iron
Ore and Queensland Coal annual production exceeded guidance, with both rising by more than 20 per
cent as we delivered more tonnes from existing infrastructure and growth projects ahead of schedule. At
Escondida, an increase in mill throughput and concentrator utilisation offset copper grade decline, while
our Onshore US business delivered a 73 per cent increase in petroleum liquids production.
“We expect to maintain strong momentum and remain on track to generate Group production growth of
16 per cent(1) over the two years to the end of the 2015 financial year. In Petroleum, we are investing in
our highest-return acreage while a broader improvement in productivity is expected to underpin stronger
iron ore, copper and metallurgical coal volumes. We will remain focused on value over volume as we
prioritise our brownfield development options and consider the next phase of portfolio simplification.”
Note: Unless specified otherwise: variance analysis relates to the relative performance of BHP Billiton
and/or its operations during the 2014 financial year compared with the 2013 financial year or the June
2014 quarter compared with the March 2014 quarter; production volumes, sales volumes and capital and
exploration expenditure from subsidiaries (which include Escondida, Jimblebar, BHP Billiton Mitsui Coal
and our manganese operations) are reported on a 100 per cent basis; production volumes, sales
volumes and capital and exploration expenditure from equity accounted investments (which include
Antamina, Samarco and Cerrejón) and other operations are reported on a proportionate consolidation
basis. Abbreviations referenced in this report are explained on page 14.
Summary
Operational performance
JUN JUN JUN YTD14 JUN Q14 JUN Q14
2014 2014 vs vs vs
Production summary YTD QTR JUN YTD13 JUN Q13 MAR Q14
Total petroleum production (MMboe) 246.0 64.7 4% 9% 6%
Copper (kt) 1,727.1 470.0 2% 2% 14%
Iron ore (kt) 203,564 56,643 20% 19% 15%
Metallurgical coal (kt) 45,078 11,886 20% 9% 4%
Energy coal (kt) 73,492 18,363 1% (1%) 4%
Alumina (kt) 5,178 1,325 6% 5% 6%
Aluminium (kt) 1,174 276 (0%) (11%) (3%)
Manganese ores (kt) 8,302 2,255 (3%) 0% 25%
Manganese alloys (kt) 646 181 6% (1%) 12%
Nickel (kt) 143.2 30.9 (7%) (23%) (9%)
Strong operating performance in the 2014 financial year delivered a nine per cent(1) increase in Group
production as records were achieved across 12 operations and four commodities. Group production
growth of 16 per cent(1) is expected over the two years to the end of the 2015 financial year.
Western Australia Iron Ore (WAIO) significantly exceeded initial full-year production guidance as the
early commissioning of Jimblebar and our productivity agenda raised the capacity of our integrated
supply chain. The ramp-up of Jimblebar to 35 Mtpa (100 per cent basis) is now expected before the end
of the 2014 calendar year and will support a further 20 Mt increase in WAIO production to approximately
245 Mt (100 per cent basis) in the 2015 financial year. A low-cost option to expand Jimblebar to 55 Mtpa
(100 per cent basis) and broader debottlenecking of the supply chain are expected to underpin further
growth in capacity towards 270 Mtpa (100 per cent basis).
Metallurgical coal production exceeded full-year guidance as Queensland Coal achieved record
production and sales volumes. This included first production from Caval Ridge, the successful ramp-up
of Daunia and record production at Peak Downs, Saraji, South Walker Creek and Poitrel. Metallurgical
coal production is forecast to increase by four per cent in the 2015 financial year to 47 Mt as the ramp-up
of Caval Ridge is completed.
Escondida copper production increased by two per cent as an improvement in mill throughput and
concentrator utilisation offset declining ore grades. With further improvements in productivity anticipated,
Escondida is on track to produce approximately 1.27 Mt of copper in the 2015 financial year, while Group
copper production is forecast to increase by five per cent(2) to 1.8 Mt.
Energy coal volumes were broadly unchanged in the 2014 financial year as a fifth consecutive
production record at New South Wales Energy Coal and record volumes at Cerrejón were offset by lower
production at South Africa Energy Coal and Navajo Coal. Energy coal production for the 2015 financial
year is expected to remain broadly unchanged at 73 Mt.
Petroleum production of 246 MMboe marginally exceeded revised full-year guidance as liquids volumes
in our Onshore US business increased by 23 per cent in the June 2014 quarter. Petroleum production is
forecast to increase by five per cent(2) in the 2015 financial year to 255 MMboe with high-margin liquids
volumes expected to increase by 16 MMboe. We remain confident that Onshore US will be strongly EBIT
positive in the 2015 financial year as the liquids contribution is forecast to rise to approximately 40 per
cent of total shale production.
Production guidance for the 2015 financial year is summarised in the table below.
Production guidance FY14(2) FY15e % change
Petroleum (MMboe) 243 255 5%
Copper (Mt) 1.7 1.8 5%
Iron ore (Mt) 204 225 11%
Metallurgical coal (Mt) 45 47 4%
Energy coal (Mt) 73 73 -
Major development projects
At the end of the 2014 financial year, BHP Billiton had eight low-risk, largely brownfield major projects
under development with a combined budget of US$14.1 billion.
During the 2014 financial year we successfully completed six projects, namely: Macedon; North West
Shelf North Rankin B Gas Compression; WAIO Jimblebar Mine Expansion; WAIO Port Blending and Rail
Yard Facilities; Samarco Fourth Pellet Plant; and Caval Ridge. Caval Ridge was completed in the June
2014 quarter, ahead of schedule and under budget, and will not be reported in future Operational
Reviews. Another two projects, Newcastle Third Port Stage 3 and Cerrejón P40, delivered first coal
during the year.
A US$212 million increase in the budget of the Escondida Oxide Leach Area project to US$933 million
has been approved. The project is now expected to be completed in the second half of the 2014
calendar year with no associated impact to production.
Corporate update
BHP Billiton expects Underlying EBIT in the June 2014 half year to include additional charges in a range
of approximately US$0.9 billion to US$1.3 billion related to: (1) impairments and mine site rehabilitation;
and (2) redundancies and the closure of operations associated with our productivity agenda. Items
include impairments (related to the Port of Vancouver and small Gulf of Mexico petroleum assets) and
mine site rehabilitation costs in Petroleum and Potash, and the impairment of assets at South Africa
Energy Coal. Redundancy costs will be recognised in our Coal, Iron Ore and Aluminium, Manganese
and Nickel Businesses, while additional costs will be recognised following the closure of aluminium
smelting activities at Bayside. This guidance will be updated should material information or events arise
as the Company finalises its financial statements.
Additional charges to be recognised in the June 2014 half year
(US$ million) EBITDA EBIT
Impairments and mine site rehabilitation 200 to 400 700 to 900
Redundancy and closure 200 to 400 200 to 400
Total charges 400 to 800 900 to 1,300
We continued to simplify our portfolio during the 2014 financial year with the successful completion of
numerous transactions, including Jimblebar and Pinto Valley. In the last two years alone, the Group has
completed transactions exceeding US$6.7 billion in Australia, the United States, Canada, South Africa
and the United Kingdom, including petroleum, copper, iron ore, coal, mineral sands, uranium and
diamonds assets. We continue to actively study the next phase of simplification, including structural
options, but we will only pursue options that maximise value for BHP Billiton shareholders.
Marketing update
The average realised prices achieved for our major commodities are summarised in the table below. Iron
ore shipments, on average, were linked to the index price for the month of shipment, with price
differentials reflecting product quality. The majority of metallurgical coal and energy coal exports were
linked to the index price for the month of shipment or sold on the spot market, with price differentials
reflecting product quality.
FY14 H2 FY14 H2 FY14
vs vs vs
Average realised prices(3) H1 FY14 H2 FY14 FY14 FY13 FY13 H2 FY13 H1 FY14
Oil (crude and condensate)
(US$/bbl) 103 102 102 106 (4%) (4%) (1%)
Natural gas (US$/Mscf) 3.81 4.89 4.35 3.76 16% 26% 28%
US natural gas (US$/Mscf) 3.44 4.75 4.10 3.29 25% 35% 38%
LNG (US$/Mscf) 14.63 14.71 14.67 14.82 (1%) 0% 1%
Copper (US$/lb)(4) 3.36 3.09 3.22 3.40 (5%) (4%) (8%)
Iron ore (US$/wmt FOB) 112 96 103 110 (6%) (18%) (14%)
Hard coking coal (US$/t) 142 121 131 163 (20%) (22%) (15%)
Weak coking coal (US$/t) 116 104 111 129 (14%) (19%) (10%)
Thermal coal (US$/t)(5) 74 67 70 81 (14%) (15%) (9%)
Alumina (US$/t)(6) 291 320 307 302 2% 2% 10%
Aluminium (US$/t) 1,996 2,049 2,022 2,160 (6%) (4%) 3%
Manganese ore (US$/dmtu)(6) 4.90 4.41 4.64 4.83 (4%) (14%) (10%)
Manganese alloy (US$/t) 952 1,001 980 1,042 (6%) 0% 5%
Nickel metal (US$/t) 13,615 16,391 14,925 16,037 (7%) 4% 20%
At 30 June 2014, the Group had 350 kt of outstanding copper sales that were revalued at a weighted
average price of US$3.19 per pound. The final price of these sales will be determined in the 2015
financial year. In addition, 386 kt of copper sales from the 2013 financial year were subject to a
finalisation adjustment in 2014. The provisional pricing and finalisation adjustments will increase
earnings before interest and tax by US$73 million in the 2014 financial year (2013 financial year:
US$303 million decrease; December 2013 half year: US$196 million increase).
Petroleum and Potash
Production
JUN JUN JUN YTD14 JUN Q14 JUN Q14
2014 2014 vs vs vs
YTD QTR JUN YTD13 JUN Q13 MAR Q14
Crude oil, condensate and natural gas liquids (MMboe) 106.1 28.9 18% 23% 6%
Natural gas (bcf) 839.3 215.0 (4%) 0% 6%
Total petroleum product (MMboe) 246.0 64.7 4% 9% 6%
Total petroleum production – Petroleum production increased by four per cent in the 2014 financial
year to 246 MMboe and included strong performance from Onshore US which delivered a 73 per cent
increase in liquids volumes. Petroleum production is forecast to increase by five per cent(2) in the 2015
financial year to 255 MMboe as continued growth at Onshore US contributes to a 16 MMboe increase in
total liquids production. Conventional volumes for the 2015 financial year are forecast to remain broadly
unchanged, consistent with prior guidance.
Total petroleum production (MMboe) Total
2014 financial year 246
Less: divested assets (3)
Adjusted 2014 financial year 243
Forecast change in liquids volumes 16
Forecast change in gas volumes (4)
2015 financial year 255
Crude oil, condensate and natural gas liquids – Crude oil, condensate and natural gas liquids
production increased by 18 per cent in the 2014 financial year to 106 MMboe. Onshore US, liquids
production increased by 23 per cent in the June 2014 quarter and we expect to carry strong momentum
into the 2015 financial year as shale liquids volumes are forecast to increase by over 17 MMboe in the
period. We remain confident that Onshore US will be strongly EBIT positive in the 2015 financial year as
the liquids contribution is forecast to rise to approximately 40 per cent of total shale production.
In our conventional business, a near doubling of production at Atlantis was achieved ahead of prior
guidance as the early completion of two production wells brought forward volumes into the 2014 financial
year. While production at Pyrenees declined by 12 per cent as a result of major maintenance, volumes
recovered strongly in the second half of the financial year following the completion of five new production
wells.
Natural gas – Natural gas production declined by four per cent in the 2014 financial year to 839 bcf. The
delivery of first gas from Macedon partially offset lower demand at Bass Strait and natural field decline at
Haynesville.
Projects and Onshore US capital expenditure
Capital Initial
expenditure production
Project and ownership (US$m) target date Capacity Progress
North West Shelf 400 CY16 To maintain LNG plant On schedule and budget. The
Greater Western throughput from the North overall project is 80% complete.
Flank-A West Shelf operations.
(Australia)
16.67% (non-operator)
Bass Strait Longford 520 CY16 Designed to process On schedule and budget. The
Gas Conditioning Plant approximately 400 MMcf/d of overall project is 33% complete.
(Australia) high-CO2 gas.
50% (non-operator)
In the 2014 financial year, approximately 75 per cent of Onshore US drilling and development
expenditure of US$4.2 billion was invested in the Eagle Ford, with the majority focused on our Black
Hawk acreage.
Liquids focused
Onshore US areas Gas focused
2014 financial year (2013 (Eagle Ford and areas (Haynesville
financial year) Permian) and Fayetteville) Total
Capital expenditure US$ billion 3.6 (3.9) 0.6 (0.9) 4.2 (4.8)
Production MMboe 51.9 (33.4) 56.2 (65.8) 108.1 (99.2)
Production mix Natural gas 36% (42%) 100% (100%) 69% (80%)
Natural gas liquids 22% (23%) - (-) 11% (8%)
Crude and condensate 42% (35%) - (-) 20% (12%)
Petroleum exploration
There were no exploration or appraisal wells drilled during the June 2014 quarter. Petroleum exploration
expenditure for the 2014 financial year was US$600 million, of which US$369 million was expensed.
Activity for the period was largely focused on the Gulf of Mexico and Western Australia.
Potash
Project and Investment
ownership (US$m) Scope Progress
Jansen Potash 2,600 Investment to finish the excavation and lining of The overall project is 30%
(Canada) the production and service shafts, and to complete and on budget.
100% continue the installation of essential surface
infrastructure and utilities.
During the June 2014 quarter, BHP Billiton allowed the exclusivity agreement for Terminal 5 at the Port
of Vancouver (US) to lapse. Our development schedule at Jansen provides us with the flexibility to
consider a broad range of port and rail options.
Copper
Production
JUN JUN FY14 JUN Q14 JUN Q14
2014 2014 vs vs vs
YTD QTR FY13 JUN Q13 MAR Q14
Copper (kt) 1,727.1 470.0 2% 2% 14%
Lead (t) 188,026 46,165 (12%) (31%) (3%)
Zinc (t) 109,935 29,116 (14%) (37%) 50%
Silver (koz) 34,804 8,509 (11%) (27%) (3%)
Uranium oxide concentrate (t) 3,988 1,044 (2%) (6%) 8%
Copper – Total copper production increased by two per cent in the 2014 financial year to 1.7 Mt as
planned. Total copper production is forecast to increase by five per cent(2) in the 2015 financial year to
1.8 Mt.
Escondida copper production increased by two per cent in the 2014 financial year to 1.2 Mt as an
improvement in mill throughput and concentrator utilisation offset declining ore grades. With further
improvements in productivity anticipated, Escondida is on track to produce approximately 1.27 Mt of
copper in the 2015 financial year. A power outage throughout Northern Chile in July 2014 and a six-day
maintenance shutdown at the Laguna Seca concentrator will impact production in the September 2014
quarter. Commissioning of Organic Growth Project 1 is scheduled for the June 2015 quarter.
Pampa Norte copper production of 233 kt for the 2014 financial year was unchanged from the prior
period. Production is forecast to remain at a similar level in the 2015 financial year as higher grades and
recoveries at Spence offset declining grades and recoveries at Cerro Colorado. A 12-day maintenance
shutdown at Cerro Colorado and tertiary crusher maintenance at Spence is expected to impact
production in the September 2014 quarter.
Record mining rates at Olympic Dam underpinned an 11 per cent increase in copper production in the
2014 financial year to 184 kt. While an annualised production rate of 219 kt in the June 2014 quarter
indicates the degree of improvement achieved in the existing underground operation, volumes in the
2015 financial year are expected to remain broadly unchanged as a result of the current smelter
maintenance program which is expected to be completed early in the September 2014 quarter. A major
smelter maintenance campaign is scheduled to commence in the June 2015 quarter.
Antamina achieved records for mill throughput and copper production in the 2014 financial year. Average
copper grades at Antamina in the 2015 financial year are expected to remain at a similar level to the
June 2014 quarter, leading to lower copper production, consistent with the mine plan.
Lead/silver – Lead and silver production decreased by 12 per cent and 11 per cent, respectively, in the
2014 financial year as lower average ore grades at Cannington were partially offset by a record mining
rate.
Zinc – Total zinc production decreased by 14 per cent in the 2014 financial year and reflected lower
grades at Antamina, consistent with the mine plan.
Uranium – The production of uranium oxide concentrate was broadly unchanged in the 2014 financial
year.
Projects
Capital Initial
expenditure production
Project and ownership (US$m) target date Capacity Progress
Escondida Oxide Leach 933 H2 CY14 New dynamic leaching pad Budget and schedule revised.
Area Project and mineral handling Challenges associated with civil
(Chile) system. Maintains oxide engineering works have been
57.5% leaching capacity. resolved. The overall project is
93% complete.
Escondida Organic 3,838 H1 CY15 Replaces the Los Colorados On schedule and budget. The
Growth Project 1 concentrator with a new 152 overall project is 79% complete.
(Chile) ktpd plant.
57.5%
Escondida Water 3,430 CY17 New desalination facility to On schedule and budget. The
Supply ensure continued water overall project is 12% complete.
(Chile) supply to Escondida.
57.5%
Iron Ore
Production
JUN JUN JUN FY14 JUN Q14 JUN Q14
2014 2014 vs vs vs
YTD QTR JUN FY13 JUN Q13 MAR Q14
Iron ore (kt) 203,564 56,643 20% 19% 15%
Iron ore – Iron ore production increased by 20 per cent in the 2014 financial year to a record 204 Mt,
exceeding initial full-year guidance by more than eight per cent. Total iron ore production is forecast to
increase by 11 per cent in the 2015 financial year to 225 Mt.
Western Australia Iron Ore production of 225 Mt (100 per cent basis) represents a fourteenth
consecutive annual record and was underpinned by the early commissioning of Jimblebar and our
productivity agenda, which raised the capacity of our integrated supply chain. Production from the
Wheelarra Joint Venture, which was previously processed through Newman, was permanently
connected to the Jimblebar processing hub during the period. The spare capacity created at Newman is
now being utilised by existing operations. The ramp-up of Jimblebar to 35 Mtpa (100 per cent basis) is
now expected before the end of the 2014 calendar year.
In the 2015 financial year WAIO production is expected to increase by a further 20 Mt to approximately
245 Mt (100 per cent basis). Yet another year of record performance will be supported by additional
productivity gains despite the tie-in of shiploaders 1 and 2 during the period. A low-cost option to expand
Jimblebar to 55 Mtpa (100 per cent basis) and broader debottlenecking of the supply chain are expected
to underpin further growth in capacity towards 270 Mtpa (100 per cent basis).
Samarco production of 22 Mt (100 per cent basis) was broadly unchanged in the 2014 financial year.
The fourth pellet plant was commissioned in the March 2014 quarter and the ramp-up to 30.5 Mtpa (100
per cent basis) is expected before the end of the 2015 financial year.
Major increase in Mineral Resource at Western Australia Iron Ore
BHP Billiton also confirms a 13 per cent increase in the Mineral Resource at WAIO compared to the
previous 30 June 2013 estimate (Table 2). The increase reflects the inclusion of 500 km of infill drilling
and revised resource estimates that have continued to delineate orebodies primarily with Brockman (67
per cent of the increase) and Marra Mamba (33 per cent of the increase) ore types, with changes after
consideration of mining depletion in the 2014 financial year. BHP Billiton ownership averages 88 per cent
but varies between 85 per cent and 100 per cent. Information pertaining to the orebodies that contribute
to the increase in Mineral Resource is contained in Appendix 1.
WAIO is located within the Pilbara region of Western Australia. The geology of the region, comprising the
Hamersley and North East Pilbara Provinces, has been extensively studied and is well documented
based on extensive mapping, exploratory drilling and mining. The Hamersley Group forms the central
part of the Mt Bruce Supergroup and contains two iron bearing stratigraphic sequences, with major
bedded ores hosted by the Brockman Iron Formation and Marra Mamba Iron Formation. The Nimingarra
Iron Formation in the North East Pilbara, hosts the Yarrie-Nimingarra iron ore deposits. Another
important iron bearing sequence is the Marillana Formation which is a detrital derived Channel Iron
Deposit currently mined at Yandi.
WAIO Mineral Resources contain the ore types: BKM – Brockman, CID – Channel Iron Deposits, MM –
Marra Mamba and NIM – Nimingarra.
Mineral Resource estimates are largely based upon three metre samples obtained from 140 millimetre
Reverse Circulation (RC) drill holes and to a lesser extent 0.3 metre to three metre samples obtained
from HQ3 and PQ3 type Diamond Drill holes and three metre samples obtained from 140 millimetre
open Percussion holes.
RC and Percussion samples are either riffle or static cone split whereas diamond core is typically
sampled as a whole. Samples are crushed to 90 per cent minus 2.8 millimetres and then pulverised to
95 per cent minus 0.16 millimetres. Pulp (200 grams) is then used for chemical analysis by X-Ray
Fluorescence (XRF) for Fe, SiO2, Al2O3, P, MnO, CaO, K2O, MgO, S and TiO2 and Robotic Thermo-
Gravimetric Analysis (ROBTGA) for Loss on Ignition (LOI).
Resource estimation is typically performed by Ordinary Kriging (OK) interpolation which uses search
criteria consistent with geostatistical models separately developed for both Fe and associated
deleterious elements such as SiO2, Al2O3 and P according to the appropriate geological controls. To a
lesser extent some deposits contributing Inferred Resources have been estimated using Inverse
Distance Weighted (IDW) interpolation or Cross Sectional Area of Influence techniques reflecting data
density.
Mineral resources have been classified considering data density, data quality, geological continuity
and/or complexity, estimation quality, weathering zones and proximity to the water table (Table 1).
Table 1. Nominal drill grid spacing for WAIO Mineral Resource category
Classification BKM CID MM NIM
Measured (average) 50x50 metres 50x50 metres 50x50 metres 30x30 metres
Indicated (average) 150x50 metres 150x50 metres 150x50 metres 120x60 metres
Inferred (maximum) 1200x100 metres 1200x100 metres 1200x100 metres 1200x120 metres
Typically a 54 per cent Fe cut-off is used for resource reporting of Marra Mamba and Brockman Iron
Formations, a 52 per cent Fe cut-off is used for Channel Iron Deposits and a 50 per cent Fe cut-off for
operational areas within the Nimingarra Formation. These cut-offs employed for the Pilbara Mineral
Resources estimates are based on break-even economic analysis and assumed open pit extraction and
processing by crushing and screening. It is reasonable to consider that all material above the Mineral
Resource cut-off grade would be eligible for sale, either now or in the future as indicated by WAIO
strategic mine planning.
Table 2. Mineral Resources (inclusive of Ore Reserves) (100%)(7)
As at 30 June 2014
Measured Resources Indicated Resources
Commodity Ore % % % % % % % % % %
Deposit type Mt Fe P SiO2 Al2O3 LOI Mt Fe P SiO2 Al2O3 LOI
Iron Ore
WAIO BKM 1,300 62.2 0.12 3.9 2.4 4.1 4,200 59.9 0.14 4.9 2.5 6.2
CID 960 56.1 0.05 6.4 2.0 10.9 430 56.7 0.06 6.1 2.1 10.3
MM 360 61.9 0.07 3.2 1.8 6.0 870 60.7 0.07 3.8 2.1 6.7
NIM 10 59.0 0.08 10.1 1.2 3.8 120 61.6 0.06 8.0 1.1 1.7
As at 30 June 2014 (continued)
Inferred Resources Total Resources
Commodity Ore % % % % % % % % % %
Deposit type Mt Fe P SiO2 Al2O3 LOI Mt Fe P SiO2 Al2O3 LOI
Iron Ore
WAIO BKM 9,200 59.0 0.14 5.4 2.8 6.6 15,000 59.5 0.14 5.1 2.7 6.3
CID 790 54.9 0.06 6.6 3.0 11.0 2,200 55.8 0.05 6.4 2.3 10.8
MM 5,100 59.6 0.07 4.5 2.3 7.2 6,400 59.9 0.07 4.3 2.2 7.0
NIM 70 60.5 0.05 9.9 1.2 1.7 200 61.1 0.06 8.8 1.2 1.8
As at 30 June 2013
BHP
Billiton
Total Resources interest %
Commodity Ore % % % % %
Deposit type Mt Fe P SiO2 Al2O3 LOI
Iron Ore
WAIO BKM 13,000 59.6 0.14 5.2 2.7 6.1 88
CID 2,400 55.7 0.05 6.4 2.4 10.9
MM 5,400 59.9 0.07 4.4 2.2 6.9
NIM 190 61.0 0.06 8.9 1.2 1.9
Additional information is contained in Appendix 1.
Coal
Production
JUN JUN JUN FY14 JUN Q14 JUN Q14
2014 2014 vs vs vs
YTD QTR JUN FY13 JUN Q13 MAR Q14
Metallurgical coal (kt) 45,078 11,886 20% 9% 4%
Energy coal (kt) 73,492 18,363 1% (1%) 4%
Metallurgical coal – Metallurgical coal production increased by 20 per cent in the 2014 financial year to
a record 45 Mt, exceeding full-year guidance. Metallurgical coal production is forecast to increase by four
per cent in the 2015 financial year to 47 Mt as the ramp-up of Caval Ridge is completed.
Queensland Coal achieved record production and sales volumes in the 2014 financial year, supported by
strong performance across all operations. This included first production from Caval Ridge, the successful
ramp-up of Daunia and record production at Peak Downs, Saraji, South Walker Creek and Poitrel. A
sustainable increase in truck and wash-plant utilisation rates underpinned a further improvement in
productivity across the business.
Illawarra Coal production declined by five per cent in the 2014 financial year to 7.5 Mt. An extended
outage at the Dendrobium mine impacted performance, primarily in the September 2013 quarter.
As a result of continued weakness in coal prices, persistent strength of the Australian dollar and the
recognition of redundancy and restructuring charges, Queensland Coal was marginally EBIT positive
during the second half of the 2014 financial year.
Energy coal – Energy coal production of 73 Mt in the 2014 financial year was broadly unchanged from
the prior period as planned. Another year of robust performance was underpinned by a fifth consecutive
annual production record at New South Wales Energy Coal and record volumes at Cerrejón. Extended
outages at both a local utility and the Richards Bay Coal Terminal led to lower production at South Africa
Energy Coal, while Navajo Coal production declined following the permanent closure of three of the five
power units at the Four Corners Power Plant.
Energy coal production for the 2015 financial year is expected to remain broadly unchanged at 73 Mt. A
drought in the La Guajira region of Colombia is expected to constrain Cerrejón production for the
remainder of the 2014 calendar year, given the requirement to manage dust emissions. The port
expansion associated with the Cerrejón P40 project is currently being commissioned, although
operational issues are expected to constrain capacity at approximately 35 Mtpa (100 per cent basis) in
the medium term.
Projects
Capital Initial
Project and expenditure production
ownership (US$m) target date Capacity Progress
Caval Ridge 1,870(8) CY14 Greenfield mine development to First coal achieved in Q2 CY14,
(Australia) produce an initial 5.5 Mtpa of ahead of schedule and under
50% export metallurgical coal. budget. The overall project is
100% complete.
Hay Point 1,505(8) CY15 Increases port capacity from On revised schedule and
Stage Three 44 Mtpa to 55 Mtpa and reduces budget. The overall project is
Expansion storm vulnerability. 87% complete.
(Australia)
50%
Appin Area 9 845 CY16 Maintains Illawarra Coal’s On schedule and budget. The
(Australia) production capacity with a overall project is 67% complete.
100% replacement mining domain and
capacity to produce 3.5 Mtpa of
metallurgical coal.
Aluminium, Manganese and Nickel
Production
JUN JUN JUN YTD14 JUN Q14 JUN Q14
2014 2014 vs vs vs
YTD QTR JUN YTD13 JUN Q13 MAR Q14
Alumina (kt) 5,178 1,325 6% 5% 6%
Aluminium (kt) 1,174 276 0% (11%) (3%)
Manganese ores (kt) 8,302 2,255 (3%) 0% 25%
Manganese alloys (kt) 646 181 6% (1%) 12%
Nickel (kt) 143.2 30.9 (7%) (23%) (9%)
Alumina – Alumina production increased by six per cent in the 2014 financial year to a record 5.2 Mt.
The Efficiency and Growth project at Worsley reached nameplate capacity during the year and annual
production records were achieved at both the Worsley and Alumar refineries.
Aluminium – Aluminium production in the 2014 financial year was unchanged at 1.2Mt. Production
records at both Hillside and Mozal were offset by lower volumes at Alumar following the phased
suspension of 103 kt (BHP Billiton share) of annualised capacity during the 2014 financial year. The final
potline at Bayside was closed in June 2014, although the cast house will be supplied by our Hillside
smelter as we continue to assess its future.
Manganese ores – Despite achieving record production in the June 2014 quarter, manganese ore
volumes declined by three per cent in the 2014 financial year as GEMCO was affected by higher than
usual rainfall during the wet season.
Manganese alloys – Manganese alloy production increased by six per cent from the 2013 financial year
which was affected by the temporary suspension of operations at TEMCO.
Nickel – Nickel production declined by seven per cent in the 2014 financial year to 143 kt as production
at Cerro Matoso was affected by kiln and furnace outages, and lower nickel grades. Nickel West
production declined by four per cent following the closure of the Perseverance underground mine in
November 2013.
Saleable nickel production at Nickle West is expected to decline by four per cent in the 2015 financial
year to 95 kt. Ferro-nickel production at Cerro Matoso is expected to decline by three per cent to 43 kt as
a result of lower grades and recoveries.
On 14 May 2014, BHP Billiton announced a review of the Nickel West business, comprising the Mt Keith,
Cliffs and Leinster mines, its concentrators, the Kalgoorlie smelter and the Kwinana refinery. The review
is considering all options for the long-term future of Nickel West, including the potential sale of all or part
of the business.
Minerals exploration
Minerals exploration expenditure in the 2014 financial year was US$410 million, of which US$347 million
was expensed. Greenfield minerals exploration is predominantly focused on advancing copper targets
within Chile and Peru.
1 Refers to copper equivalent production based on average realised prices for the 2013 financial year.
2 Excludes operations which were sold during the year (Liverpool Bay and Pinto Valley).
3 Based on provisional, unaudited estimates. Prices excludes third party product, and represent the
weighted average of various sales terms (for example, FOB, CIF and CFR), unless otherwise noted.
4 Includes third party product.
5 Export sales only, excludes Cerrejón. Includes thermal coal sales from metallurgical coal mines.
6 Excludes internal sales.
7 Competent Persons – P. Whitehouse (MAusIMM), M. Lowry (MAusIMM), M. Smith (MAusIMM), D.
Stephens (MAIG).
The statement of Mineral Resources is presented on a 100 per cent basis, represents an estimate as at
30 June 2014, and is based on information compiled by the above named Competent Persons. Mr.
Whitehouse, Mr. Lowry, Mr. Smith and Mr. Stephens are full time employees of BHP Billiton Iron Ore Ltd,
are members of either The Australasian Institute of Mining and Metallurgy or The Australian Institute of
Geoscientists, and 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 Competent Persons as defined
in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves'. Mr. Whitehouse, Mr. Lowry, Mr. Smith and Mr. Stephens consent to the inclusion in
the report of the matters based on their information in the form and context in which it appears.
8 Excludes announced pre-commitment funding.
The following abbreviations have been used throughout this report: barrels (bbl) billion cubic feet (bcf);
cost and freight (CFR); cost, insurance and freight (CIF), dry metric tonne unit (dmtu); free on board
(FOB); grams per tonne (g/t); kilograms per tonne (kg/t); kilometre (km); metre (m); million barrels of oil
equivalent (MMboe); million cubic feet per day (MMcf/d); million tonnes (Mt); million tonnes per annum
(Mtpa); ounces (oz); pounds (lb) thousand barrels of oil equivalent (Mboe); thousand ounces (koz);
thousand standard cubic feet (Mscf); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand
tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).
Sponsor: Merrill Lynch South Africa Proprietary Limited
Further information on BHP Billiton can be found at: www.bhpbilliton.com
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BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: Level 16, 171 Collins Street Registered Office: Neathouse Place
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BHP BILLITON PRODUCTION SUMMARY
QUARTER ENDED YEAR TO DATE % CHANGE
JUN JUN JUN
YTD14 Q14 Q14
JUN MAR JUN JUN JUN vs vs vs
JUN JUN MAR
2013 2014 2014 2014 2013 YTD13 Q13 Q14
Petroleum
Crude oil, condensate and
NGL (Mboe) 23,441 27,244 28,877 106,147 90,051 18% 23% 6%
Natural gas (bcf) 214.5 202.0 215.0 839.3 874.3 (4%) 0% 6%
Total petroleum production (MMboe) 59.2 60.9 64.7 246.0 235.8 4% 9% 6%
Copper
Copper (kt) 461.7 413.9 470.0 1,727.1 1,689.4 2% 2% 14%
Lead (t) 67,034 47,577 46,165 188,026 214,432 (12%) (31%) (3%)
Zinc (t) 45,881 19,409 29,116 109,935 128,205 (14%) (37%) 50%
Gold (oz) 56,070 43,883 59,705 194,288 184,769 5% 6% 36%
Silver (koz) 11,602 8,757 8,509 34,804 38,913 (11%) (27%) (3%)
Uranium (t) 1,105 966 1,044 3,988 4,066 (2%) (6%) 8%
Molybdenum (t) 376 281 83 1,201 1,561 (23%) (78%) (70%)
Iron ore
Iron Ore (kt) 47,689 49,280 56,643 203,564 169,856 20% 19% 15%
Coal
Metallurgical coal (kt) 10,858 11,467 11,886 45,078 37,650 20% 9% 4%
Energy coal (kt) 18,561 17,723 18,363 73,492 72,445 1% (1%) 4%
Aluminium, Manganese and Nickel
Alumina (kt) 1,265 1,250 1,325 5,178 4,880 6% 5% 6%
Aluminium (kt) 310 286 276 1,174 1,179 (0%) (11%) (3%)
Manganese ores (kt) 2,246 1,801 2,255 8,302 8,517 (3%) 0% 25%
Manganese alloys (kt) 182 162 181 646 608 6% (1%) 12%
Nickel (kt) 40.3 34.1 30.9 43.2 154.1 (7%) (23%) (9%)
Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.
BHP BILLITON PRODUCTION
QUARTER ENDED YEAR TO DATE
BHP Billiton JUN SEP DEC MAR JUN JUN JUN
interest 2013 2013 2013 2014 2014 2014 2013
Petroleum
Production
Crude oil, condensate and
NGL (Mboe) (1) 23,441 26,053 23,973 27,244 28,877 106,147 90,051
Natural gas (bcf) 214.5 219.7 202.6 202.0 215.0 839.3 874.3
Total petroleum products
(MMboe) 59.2 62.7 57.7 60.9 64.7 246.0 235.8
Copper (2)
Copper
Payable metal in concentrate (kt)
Escondida (3) 57.5% 223.0 205.1 208.0 190.6 241.0 844.7 831.5
Antamina 33.8% 34.7 41.9 42.4 33.0 26.2 143.5 139.7
Pinto Valley 100% 10.8 10.9 1.6 - - 12.5 16.6
Total 268.5 257.9 252.0 223.6 267.2 1,000.7 987.8
Cathode (kt)
Escondida (3) 57.5% 79.3 73.2 77.5 75.8 81.5 308.0 297.9
Pampa Norte (4) 100% 64.7 43.5 59.4 63.4 66.8 233.1 232.6
Pinto Valley 100% 1.3 0.8 0.1 - - 0.9 4.9
Olympic Dam 100% 47.9 27.9 50.9 51.1 54.5 184.4 166.2
Total 193.2 145.4 187.9 190.3 202.8 726.4 701.6
Total Copper 461.7 403.3 439.9 413.9 470.0 1,727.1 1,689.4
Lead
Payable metal in concentrate (t)
Cannington 100% 66,666 46,287 47,259 47,214 45,768 186,528 213,425
Antamina 33.8% 368 158 580 363 397 1,498 1,007
Total 67,034 46,445 47,839 47,577 46,165 188,026 214,432
Zinc
Payable metal in concentrate (t)
Cannington 100% 20,206 16,033 16,123 10,074 15,666 57,896 56,281
Antamina 33.8% 25,675 12,522 16,732 9,335 13,450 52,039 71,924
Total 45,881 28,555 32,855 19,409 29,116 109,935 128,205
Gold
Payable metal in concentrate (oz)
Escondida (3) 57.5% 17,593 17,347 19,384 15,253 20,920 72,904 71,529
Olympic Dam (refined gold) 100% 38,477 27,649 26,271 28,630 38,785 21,335 113,240
Pinto Valley 100% - 49 - - - 49 -
Total 56,070 45,045 45,655 43,883 59,705 194,288 184,769
Silver
Payable metal in concentrate (koz)
Escondida (3) 57.5% 890 891 982 1,078 1,320 4,271 2,960
Antamina 33.8% 1,297 1,205 1,350 961 843 4,359 3,952
Cannington 100% 9,101 6,361 6,306 6,465 6,029 25,161 31,062
Olympic Dam (refined silver) 100% 266 190 212 253 317 972 880
Pinto Valley 100% 48 41 - - - 41 59
Total 11,602 8,688 8,850 8,757 8,509 34,804 38,913
Uranium
Payable metal in concentrate (t)
Olympic Dam 100% 1,105 970 1,008 966 1,044 3,988 4,066
Total 1,105 970 1,008 966 1,044 3,988 4,066
Molybdenum
Payable metal in concentrate (t)
Antamina 33.8% 376 458 379 281 83 1,201 1,561
Total 376 458 379 281 83 1,201 1,561
Iron Ore
Production (kt) (5)
Newman 85% 14,391 12,196 12,483 15,470 16,766 56,915 44,620
Yarrie 85% - 202 428 206 - 836 1,106
Area C Joint Venture 85% 12,552 11,814 11,383 11,282 12,481 46,960 44,717
Yandi Joint Venture 85% 17,027 18,146 17,135 15,622 17,615 68,518 60,054
Jimblebar (6) 85% - 700 1,702 2,721 3,740 8,863 -
Wheelarra (7) 85% 1,017 3,166 2,716 1,698 2,973 10,553 8,377
Samarco 50% 2,702 2,729 2,841 2,281 3,068 10,919 10,982
Total 47,689 48,953 48,688 49,280 56,643 203,564 169,856
Coal
Metallurgical coal
Production (kt) (8)
BMA 50% 6,696 6,705 7,494 7,461 7,596 29,256 22,645
BHP Mitsui Coal (9) 80% 1,846 2,057 2,114 1,995 2,143 8,309 7,063
Illawarra 100% 2,316 1,423 1,932 2,011 2,147 7,513 7,942
Total 10,858 10,185 11,540 11,467 11,886 45,078 37,650
Energy Coal
Production (kt)
South Africa (10) 90% 7,902 7,937 7,036 7,398 8,013 30,384 31,627
USA 100% 2,752 3,145 2,896 2,359 2,412 10,812 12,791
Australia 100% 4,893 5,372 4,544 5,018 5,030 19,964 18,010
Colombia 33.3% 3,014 3,185 3,291 2,948 2,908 12,332 10,017
Total 18,561 19,639 17,767 17,723 18,363 73,492 72,445
Aluminium, Manganese and
Nickel
Aluminia
Saleable production (kt)
Worsley 86% 961 946 1,024 936 1,010 3,916 3,675
Alumar 36% 304 305 328 314 315 1,262 1,205
Total 1,265 1,251 1,352 1,250 1,325 5,178 4,880
Aluminium
Production (kt)
Hillside 100% 181 184 183 172 176 715 665
Bayside (11) 100% 24 24 24 23 18 89 96
Alumar 40% 39 35 28 26 15 104 154
Mozal 47.1% 66 67 67 65 67 266 264
Total 310 310 302 286 276 1,174 1,179
Manganese ores
Saleable production (kt)
South Africa (12) 44.4% 939 864 944 782 936 3,526 3,490
Australia (12) 60% 1,307 1,182 1,256 1,019 1,319 4,776 5,027
Total 2,246 2,046 2,200 1,801 2,255 8,302 8,517
Manganese alloys
Saleable production (kt)
South Africa (12) (13) 60% 104 86 94 91 106 377 374
Australia (12) 60% 78 51 72 71 75 269 234
Total 182 137 166 162 181 646 608
Nickel
Saleable production (kt)
Cerro Matoso 99.9% 12.8 12.0 12.3 9.8 10.2 44.3 50.8
Nickel West 100% 27.5 28.4 25.5 24.3 20.7 98.9 103.3
Total 40.3 40.4 37.8 34.1 30.9 143.2 154.1
BHP BILLITON PRODUCTION
(1) LPG and ethane are reported as Natural Gas Liquid (NGL). Product-specific conversions are made and NGL is reported in
barrels of oil equivalent (boe). Total boe conversions are based on 6,000 scf of natural gas equals 1 boe.
(2) Metal production is reported on the basis of payable metal.
(3) Shown on 100% basis following the application of the new IFRS 10 which came into effect from 1 July 2013. BHP Billiton
interest in saleable production is 57.5%.
(4) Includes Cerro Colorado and Spence.
(5) Iron ore production is reported on a wet tonnes basis.
(6) Shown on 100% basis. BHP Billiton interest in saleable production is 85%.
(7) All production from Wheelarra is now processed via the Jimblebar processing hub.
(8) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.
(9) Shown on 100% basis. BHP Billiton interest in saleable production is 80%.
(10) Shown on 100% basis. BHP Billiton interest in saleable production is 90%.
(11) Aluminium smelting at Bayside ceased with the closure of the final potline in June 2014.
(12) Shown on 100% basis. BHP Billiton interest in saleable production is 60%, except Hotazel Manganese Mines which is
44.4%.
(13) Production includes Medium Carbon Ferro Manganese.
PRODUCTION AND SALES REPORT
QUARTER ENDED YEAR TO DATE
JUN SEP DEC MAR JUN JUN JUN
2013 2013 2013 2014 2014 2014 2013
Petroleum
Crude oil, condensate and NGL (Mboe)
Crude oil and condensate
Bass Strait 2,229 2,247 1,958 2,095 2,355 8,655 8,813
North West Shelf 1,646 1,865 1,497 1,504 1,408 6,274 6,868
Stybarrow 401 348 317 282 255 1,202 1,722
Pyrenees 1,817 1,707 1,295 2,386 2,075 7,463 8,460
Other Australia (1) 12 14 12 11 14 51 59
Atlantis (2) 2,594 2,953 3,988 3,734 4,114 14,789 7,995
Mad Dog (2) 649 732 496 704 187 2,119 2,715
Shenzi (2) 3,378 3,467 3,201 3,467 3,530 13,665 14,749
Onshore US (3) 3,614 5,044 4,238 5,589 7,069 21,940 11,701
Trinidad/Tobago 259 320 314 279 248 1,161 1,328
Other Americas (2) (4) 403 378 373 329 371 1,451 1,564
UK (5) 282 142 305 254 27 728 1,223
Algeria 1,210 1,142 1,156 1,069 996 4,363 5,042
Pakistan 65 62 52 49 37 200 273
Total 18,559 20,421 19,202 21,752 22,686 84,061 72,512
NGL
Bass Strait 1,753 2,001 1,603 1,621 2,026 7,251 6,553
North West Shelf 312 399 234 276 288 1,197 1,374
Atlantis (2) 200 255 348 288 111 1,002 559
Mad Dog (2) - 38 24 36 39 137 143
Shenzi (2) 224 266 252 280 252 1,050 1,187
Onshore US (3) 2,375 2,656 2,295 2,986 3,471 11,408 7,631
Other Americas (2) (4) 9 11 10 2 - 23 55
UK (5) 9 6 5 3 4 18 37
Total 4,882 5,632 4,771 5,492 6,191 22,086 17,539
Total crude oil, condensate and
NGL 23,441 26,053 23,973 27,244 28,877 106,147 90,051
Natual gas (bcf)
Bass Strait 33.6 34.2 22.7 21.2 30.5 108.6 123.7
North West Shelf 30.3 34.2 30.3 31.4 31.8 127.7 131.0
Other Australia (1) 4.5 9.3 15.1 13.2 13.6 51.2 21.4
Atlantis (2) 0.8 1.3 1.8 1.8 1.9 6.8 2.9
Mad Dog (2) 0.1 0.1 0.1 0.1 0.1 0.4 0.4
Shenzi (2) 0.8 0.8 0.8 0.8 0.8 3.2 4.6
Onshore US (3) 118.1 114.9 105.3 109.7 118.9 448.8 479.4
Trinidad/Tobago 9.1 9.9 9.7 9.3 9.1 38.0 36.3
Other Americas (2) (4) 0.3 0.3 0.3 0.2 0.2 1.0 1.7
UK (5) 4.1 3.5 6.2 5.4 0.8 15.9 19.1
Pakistan 12.8 11.2 10.3 8.9 7.3 37.7 53.8
Total 214.5 219.7 202.6 202.0 215.0 839.3 874.3
Total petroleum production (MMboe) (6) 59.2 62.7 57.7 60.9 64.7 246.0 235.8
(1) Other Australia includes Minerva and Macedon. Macedon achieved first production in August 2013.
(2) Gulf of Mexico volumes are net of royalties.
(3) Onshore US volumes are net of mineral holder royalties.
(4) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.
(5) UK includes Bruce/Keith and Liverpool Bay. BHP Billiton completed the sale of its 46.1% operated interest in
Liverpool Bay on 31 March 2014.
(6) Total boe conversions are based on 6,000 scf of natural gas equals 1 boe.
PRODUCTION AND SALES REPORT
QUARTER ENDED YEAR TO DATE
JUN SEP DEC MAR JUN JUN JUN
2013 2013 2013 2014 2014 2014 2013
Copper
Metals production is payable metal unless otherwise stated.
Escondida, Chile (1)
Material mined (kt) 98,665 93,744 93,814 96,420 94,673 378,651 392,669
Sulphide ore milled (kt) 19,295 18,276 19,584 21,051 21,438 80,349 73,905
Average copper grade (%) 1.42% 1.37% 1.30% 1.12% 1.33% 1.28% 1.40%
Production ex mill (kt) 231.9 210.6 214.4 195.5 235.6 856.1 863.0
Production
Payable copper (2) (kt) 223.0 205.1 208.0 190.6 241.0 844.7 831.5
Payable gold concentrate (fine oz) 17,593 17,347 19,384 15,253 20,920 72,904 71,529
Copper cathode (EW) (kt) 79.3 73.2 77.5 75.8 81.5 308.0 297.9
Payable silver concentrate (koz) 890 891 982 1,078 1,320 4,271 2,960
Sales
Payable copper (kt) 228.2 192.3 228.1 173.2 239.1 832.7 836.2
Payable gold concentrate (fine oz) 15,831 12,490 18,602 20,889 20,920 72,901 69,041
Copper cathode (EW) (kt) 95.0 63.0 86.7 76.4 83.3 309.4 303.0
Payable silver concentrate (koz) 908 836 1,076 1,046 1,320 4,278 2,963
(1) Shown on 100% basis following the application of the new IFRS 10 which came into effect from 1 July 2013. BHP Billiton
interest in saleable production is 57.5%.
(2) June 2014 quarter includes 4.3 kt of copper contained in ore sold to third parties.
Pampa Norte, Chile
Cerro Colorado
Material mined (kt) 16,303 15,771 17,487 15,939 17,087 66,284 63,056
Ore milled (kt) 4,351 4,161 4,501 4,508 4,016 17,186 17,412
Average copper grade (%) 0.82% 0.78% 0.76% 0.75% 0.76% 0.76% 0.67%
Production
Copper cathode (EW) (kt) 21.2 17.6 19.4 22.0 21.3 80.3 71.5
Sales
Copper cathode (EW) (kt) 21.7 17.3 17.6 12.4 28.7 76.0 70.3
Spence
Material mined (kt) 28,646 24,331 27,911 25,037 25,962 103,241 111,047
Ore milled (kt) 4,146 4,860 4,788 4,735 3,775 18,158 16,100
Average copper grade (%) 1.16% 1.11% 1.25% 1.23% 1.30% 1.22% 1.25%
Production
Copper cathode (EW) (kt) 43.5 25.9 40.0 41.4 45.5 152.8 161.1
Sales
Copper cathode (EW) (kt) 57.9 25.9 35.9 40.0 49.6 151.4 161.4
Antamina, Peru
Material mined (100%) (kt) 56,254 56,428 50,872 45,837 49,797 202,934 208,014
Sulphide ore milled (100%) (kt) 12,424 11,765 12,521 11,729 12,756 48,771 46,780
Average head grades
- Copper (%) 1.03% 1.21% 1.15% 1.00% 0.77% 1.03% 1.06%
- Zinc (%) 1.02% 0.56% 0.72% 0.54% 0.58% 0.60% 0.81%
Production
Payable copper (kt) 34.7 41.9 42.4 33.0 26.2 143.5 139.7
Payable zinc (t) 25,675 12,522 16,732 9,335 13,450 52,039 71,924
Payable silver (koz) 1,297 1,205 1,350 961 843 4,359 3,952
Payable lead (t) 368 158 580 363 397 1,498 1,007
Payable molybdenum (t) 376 458 379 281 83 1,201 1,561
Sales
Payable copper (kt) 31.9 41.3 44.5 30.2 26.5 142.5 138.4
Payable zinc (t) 22,560 16,123 18,397 10,158 14,527 59,205 72,015
Payable silver (koz) 1,165 1,503 1,367 910 893 4,673 3,887
Payable lead (t) 262 297 368 405 521 1,591 983
Payable molybdenum (t) 283 411 442 347 142 1,342 1,571
Cannington, Australia
Material mined (kt) 802 893 974 773 806 3,446 3,146
Ore milled (kt) 866 750 852 779 821 3,202 3,145
Average head grades
- Silver (g/t) 401 315 274 311 286 296 360
- Lead (%) 9.1% 7.4% 6.7% 7.3% 6.9% 7.1% 7.9%
- Zinc (%) 3.8% 3.3% 3.1% 2.4% 3.1% 3.0% 3.0%
Production
Payable silver (koz) 9,101 6,361 6,306 6,465 6,029 25,161 31,062
Payable lead (t) 66,666 46,287 47,259 47,214 45,768 186,528 213,425
Payable zinc (t) 20,206 16,033 16,123 10,074 15,666 57,896 56,281
Sales
Payable silver (koz) 7,793 7,844 6,548 6,127 5,641 26,160 30,258
Payable lead (t) 64,633 56,500 47,185 43,649 41,607 188,941 218,655
Payable zinc (t) 21,056 17,286 18,241 11,020 15,708 62,255 57,195
Olympic Dam, Australia
Material mined (1) (kt) 2,750 2,897 2,717 2,495 2,405 10,514 9,547
Ore milled (kt) 2,641 2,404 2,641 2,421 2,654 10,120 9,900
Average copper grade (%) 1.86% 1.85% 1.86% 1.90% 1.91% 1.88% 1.80%
Average uranium grade (kg/t) 0.56 0.53 0.52 0.54 0.51 0.52 0.53
Production
Copper cathode (ER) (kt) 45.1 25.9 47.6 48.4 51.3 173.2 154.2
Copper cathode (EW) (kt) 2.8 2.0 3.3 2.7 3.2 11.2 12.0
Uranium oxide concentrate (t) 1,105 970 1,008 966 1,044 3,988 4,066
Refined gold (fine oz) 38,477 27,649 26,271 28,630 38,785 121,335 113,240
Refined silver (koz) 266 190 212 253 317 972 880
Sales
Copper cathode (ER) (kt) 46.4 26.8 43.3 47.5 54.2 171.8 154.8
Copper cathode (EW) (kt) 3.5 2.1 2.8 2.5 3.0 10.4 12.7
Uranium oxide concentrate (t) 1,374 930 1,037 732 1,426 4,125 4,148
Refined gold (fine oz) 38,394 21,675 32,226 31,129 38,500 123,530 109,248
Refined silver (koz) 275 176 177 262 367 982 920
(1) Material mined refers to run of mine ore mined and hoisted.
Pinto Valley, US (1)
Production
Payable copper (kt) 10.8 10.9 1.6 - - 12.5 16.6
Copper cathode (EW) (kt) 1.3 0.8 0.1 - - 0.9 4.9
Payable silver (koz) 48 41 - - - 41 59
Payable gold (oz) - 49 - - - 49 -
Sales
Payable copper (kt) 9.9 10.0 - - - 10.0 12.5
Copper cathode (EW) (kt) 1.4 1.1 0.2 - - 1.3 4.9
Payable silver (koz) 48 41 - - - 41 59
Payable gold (oz) - 49 - - - 49 -
(1) On 11 October 2013 BHP Billiton completed the sale of its Pinto Valley operations.
PRODUCTION AND SALES REPORT
QUARTER ENDED YEAR TO DATE
JUN SEP DEC MAR JUN JUN JUN
2013 2013 2013 2014 2014 2014 2013
Iron Ore
(kt)
Iron ore
Pilbara, Australia
Production (1)
Newman 14,391 12,196 12,483 15,470 16,766 56,915 44,620
Yarrie (2) - 202 428 206 - 836 1,106
Area C Joint Venture 12,552 11,814 11,383 11,282 12,481 46,960 44,717
Yandi Joint Venture 17,027 18,146 17,135 15,622 17,615 68,518 60,054
Jimblebar (3) - 700 1,702 2,721 3,740 8,863 -
Wheelarra (4) 1,017 3,166 2,716 1,698 2,973 10,553 8,377
Total 44,987 46,224 45,847 46,999 53,575 192,645 158,874
Total production (100%) 52,926 54,258 53,638 54,812 62,369 225,077 186,911
Sales
Lump 11,284 10,292 9,996 11,230 11,572 43,090 38,767
Fines 34,621 35,283 35,756 35,880 40,834 147,753 122,188
Total 45,905 45,575 45,752 47,110 52,406 190,843 160,955
Total sales (100%) 54,006 53,561 53,808 55,018 61,015 223,402 189,357
(1) Iron ore production and sales are reported on a wet tonnes basis.
(2) Yarrie ceased production on 25 February 2014.
(3) Shown on a 100% basis. BHP Billiton interest in saleable production is 85%.
(4) All production from Wheelarra is now processed via the Jimblebar processing hub.
Samarco, Brazil
Production (1) 2,702 2,729 2,841 2,281 3,068 10,919 10,982
Sales 2,651 2,676 3,025 2,036 3,077 10,814 11,015
(1) Iron ore production and sales are reported on a wet tonnes basis.
PRODUCTION AND SALES REPORT
QUARTER ENDED YEAR TO DATE
JUN SEP DEC MAR JUN JUN JUN
2013 2013 2013 2014 2014 2014 2013
Coal
(kt)
Metallurgical coal
Queensland Coal
Production (1)
BMA
Blackwater 1,539 1,691 1,655 1,759 1,625 6,730 5,432
Goonyella 1,816 1,737 1,999 2,041 1,553 7,330 6,221
Peak Downs 1,140 1,112 1,201 1,314 1,282 4,909 4,545
Saraji 971 1,197 1,195 1,108 1,058 4,558 3,449
Gregory Joint Venture 854 464 850 654 997 2,965 2,523
Daunia 376 504 594 585 518 2,201 475
Caval Ridge (2) - - - - 563 563 -
Total BMA 6,696 6,705 7,494 7,461 7,596 29,256 22,645
BHP Mitsui Coal (3)
South Walker Creek 1,215 1,298 1,313 1,312 1,323 5,246 4,351
Poitrel 631 759 801 683 820 3,063 2,712
Total BHP Mitsui Coal 1,846 2,057 2,114 1,995 2,143 8,309 7,063
Total Queensland Coal 8,542 8,762 9,608 9,456 9,739 37,565 29,708
Sales
Coking coal 6,316 6,123 6,517 7,030 7,250 26,920 20,868
Weak coking coal 2,417 2,397 2,505 2,594 2,358 9,854 7,811
Thermal coal 30 160 271 122 134 687 581
Total 8,763 8,680 9,293 9,746 9,742 37,461 29,260
(1) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.
(2) Caval Ridge achieved first production in the June 2014 quarter.
(3) Shown on 100% basis. BHP Billiton interest in saleable production is 80%.
Illawarra, Australia
Production (1) 2,316 1,423 1,932 2,011 2,147 7,513 7,942
Sales
Coking coal 1,877 1,084 1,495 1,581 1,761 5,921 7,032
Thermal coal 436 359 318 460 486 1,623 1,410
Total 2,313 1,443 1,813 2,041 2,247 7,544 8,442
(1) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.
Energy coal
South Africa (1)
Production 7,902 7,937 7,036 7,398 8,013 30,384 31,627
Sales
Export 3,363 2,504 4,087 3,179 3,528 13,298 13,935
Local utility 4,353 4,543 3,811 3,478 4,498 16,330 18,008
Inland 24 - - - - - 122
Total 7,740 7,047 7,898 6,657 8,026 29,628 32,065
(1) Shown on 100% basis. BHP Billiton interest in saleable product is 90%.
New Mexico, USA
Production
Navajo Coal (1) 1,569 1,670 1,400 975 1,082 5,127 7,468
San Juan Coal 1,183 1,475 1,496 1,384 1,330 5,685 5,323
Total 2,752 3,145 2,896 2,359 2,412 10,812 12,791
Sales - local utility 2,815 3,129 2,950 2,360 2,382 10,821 12,775
(1) BHP Billiton completed the sale of Navajo Mine on 30 December 2013. As BHP Billiton will retain control of the mine until
full consideration is received, production will continue to be reported by the Group.
NSW Energy Coal, Australia
Production 4,893 5,372 4,544 5,018 5,030 19,964 18,010
Sales
Export 4,289 4,037 4,887 4,346 4,548 17,818 17,469
Inland 478 446 332 270 333 1,381 1,167
Total 4,767 4,483 5,219 4,616 4,881 19,199 18,636
Cerrejon, Colombia
Production 3,014 3,185 3,291 2,948 2,908 12,332 10,017
Sales - export 3,157 3,155 3,067 2,647 2,858 11,727 10,263
PRODUCTION AND SALES REPORT
QUARTER ENDED YEAR TO DATE
JUN SEP DEC MAR JUN JUN JUN
2013 2013 2013 2014 2014 2014 2013
Aluminium, Manganese and Nickel
(kt)
Alumina
Saleable production
Worsley, Australia 961 946 1,024 936 1,010 3,916 3,675
Alumar, Brazil 304 305 328 314 315 1,262 1,205
Total 1,265 1,251 1,352 1,250 1,325 5,178 4,880
Sales
Worsley, Australia 1,031 897 961 986 1,020 3,864 3,677
Alumar, Brazil 329 278 320 262 388 1,248 1,275
Total 1,360 1,175 1,281 1,248 1,408 5,112 4,952
Aluminium
Production
Hillside, South Africa 181 184 183 172 176 715 665
Bayside, South Africa (1) 24 24 24 23 18 89 96
Alumar, Brazil 39 35 28 26 15 104 154
Mozal, Mozambique 66 67 67 65 67 266 264
Total 310 310 302 286 276 1,174 1,179
Sales
Hillside, South Africa 191 180 173 187 168 708 667
Bayside, South Africa (1) 26 24 24 24 24 96 105
Alumar, Brazil 38 34 28 25 17 104 164
Mozal, Mozambique 65 68 74 72 62 276 264
Total 320 306 299 308 271 1,184 1,200
(1) Aluminium smelting at Bayside ceased with the closure of the final potline in June 2014.
Manganese ores
Saleable production
South Africa (1) 939 864 944 782 936 3,526 3,490
Australia (1) 1,307 1,182 1,256 1,019 1,319 4,776 5,027
Total 2,246 2,046 2,200 1,801 2,255 8,302 8,517
Sales
South Africa (1) 970 920 714 915 931 3,480 3,491
Australia (1) 1,102 1,078 1,445 1,252 1,288 5,063 4,578
Total 2,072 1,998 2,159 2,167 2,219 8,543 8,069
Manganese alloys
Saleable production
South Africa (1) (2) 104 86 94 91 106 377 374
Australia (1) 78 51 72 71 75 269 234
Total 182 137 166 162 181 646 608
Sales
South Africa (1) (2) 110 88 87 113 112 400 385
Australia (1) 61 54 63 85 74 276 227
Total 171 142 150 198 186 676 612
(1) Shown on 100% basis. BHP Billiton interest in saleable production is 60%, except Hotazel Manganese Mines which is
44.4%.
(2) Production includes Medium Carbon Ferro Manganese.
Nickel
Cerro Matoso, Colombia
Production 12.8 12.0 12.3 9.8 10.2 44.3 50.8
Sales 13.1 12.6 12.3 10.0 10.2 45.1 52.1
Nickel West, Australia
Saleable production
Nickel contained in concentrate 3.0 3.4 2.4 2.5 1.6 9.9 11.5
Nickel contained in finished matte 8.6 8.8 6.1 6.1 4.4 25.4 31.7
Nickel metal 15.9 16.2 17.0 15.7 14.7 63.6 60.1
Nickel production 27.5 28.4 25.5 24.3 20.7 98.9 103.3
Sales
Nickel contained in concentrate 3.0 2.7 2.8 2.3 1.6 9.4 10.6
Nickel contained in finished matte 9.7 7.8 7.4 5.3 6.2 26.7 32.4
Nickel metal 17.7 15.3 17.2 16.7 14.4 63.6 64.2
Nickel sales 30.4 25.8 27.4 24.3 22.2 99.7 107.2
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