Bhp Billiton Settles 2002 Iron Ore Prices31 May 2002
BHP BILLITON SETTLES 2002 IRON ORE PRICES                                       
BHP Billiton PLC                                                                
NEWS RELEASE                                                                    
31 May 2002                                                                     
BHP BILLITON SETTLES 2002 IRON ORE PRICES                                       
BHP Billiton today announced it had reached agreement with both Nippon Steel    
Corporation and Kawasaki Steel Corporation for the prices of Mt Newman iron     
ore for the year commencing 1 April 2002.                                       
The agreed prices are as follows:                                               
Mt Newman Fines 28.28 US cents per dry long ton unit; a decrease of 2.4 per     
cent.                                                                           
Mt Newman Lump 36.13 US cents per dry long ton unit; a decrease of 5.0 per      
cent.                                                                           
Discussions are continuing on tonnage allocations, however BHP Billiton         
expects to maintain its position as one of Australia`s leading exporters to     
Japan.                                                                          
President BHP Billiton Carbon Steel Materials Bob Kirkby said the agreed        
prices fairly represented the current state of the global iron ore and steel    
industries.                                                                     
Negotiations are continuing with other customers.                               
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Further information can be found on our Internet site:                          
http://www.bhpbilliton.com                                                      
Australia                                                                       
Andrew Nairn, Investor Relations                                                
Tel: + 61 3 9609 3952                                                           
Mobile: +61 408 313 259                                                         
email: Andrew.W.Nairn@bhpbilliton.com                                           
United Kingdom                                                                  
Mark Lidiard, Investor & Media Relations                                        
Tel: +44 20 7747 3956                                                           
email: Mark.Lidiard@bhpbilliton.com                                             
Mandy Frostick, Media Relations                                                 
Tel: +61 3 9609 4157     Mobile: +61 419 546 245                                
email: Mandy.J.Frostick@bhpbilliton.com                                         
United States                                                                   
Francis McAllister, Investor Relations                                          
Tel: +1 713 961 8625     Mobile: +1 713 480 3699                                
email: Francis.R.McAllister@bhpbilliton.com                                     
South Africa                                                                    
Michael Campbell, Investor & Media Relations                                    
Tel: +27 11 376 3360                Mobile: +27 82 458 2587                     
email: Michael.J.Campbell@bhpbilliton.com                                       
Date: 31/05/2002 09:06:56 AM Produced by the SENS Department