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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
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