|
Bhp Billiton Settles 2004 Fine Iron Ore Prices
Media Release
BHP Billiton Plc
Share Code: BIL
ISIN Number: GB0000566504
Date 14 January 2004
Number 02/04
BHP BILLITON SETTLES 2004 FINE IRON ORE PRICES
BHP Billiton today announced it had reached agreement with Nippon Steel on the
price of its Fine iron ores for the year commencing 1 April 2004. Negotiations
with other Japanese customers are continuing.
The agreed price is as follows:
Mt Newman High Grade Fines 35.99 US cents per dry metric tonne unit; an increase
of 18.62 per cent.*
Prices for BHP Billiton"s other Fine iron ore products will increase by similar
percentages.
It is expected that the price of Mt Newman High Grade Lump will be finalised in
coming days.
*Please see the notes on the following page.
Notes:
Following agreement on the annual percentage change, Japanese iron ore prices
are denominated in US cents per dry metric tonne unit, which reflects a common
base per unit of iron content.
To determine the USD price per tonne, the following conversion formula must be
used:
US cents per dry metric tonne unit multiplied by iron content
The iron content for Mt Newman Fine ores is about 64%
Expressed in dry long ton units, the 2004 price for Mt Newman High Grade Fines
is 36.57 US cents, an increase of 18.62 per cent.
In FY2003 BHP Billiton"s Western Australian iron ore operations sold 80.3
million tonnes (100% basis) of ore.
Fine ores represented about 75% of BHP Billiton"s FY2003 sales.
The reference price of Fine ores is usually established first as this represents
about 60% of the traded market. Prices for Lump and pellets are then
usually determined as a premium to the Fines price.
Further information on BHP Billiton can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Investor Relations Mark Lidiard, Investor & Media
Tel: +61 3 9609 3952 Relations
Mobile: +61 408 313 259 Tel: +44 20 7802 4156
email: Andrew.W.Nairn@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com
Tania Price, Media Relations South Africa
Tel: +61 3 9609 3815 Michael Campbell, Investor & Media
Mobile: +61 419 152 780 Relations
email: Tania.Price@bhpbilliton.com Tel: +27 11 376 3360 Mobile: +27 82
458 2587
United States email:
Francis McAllister, Investor Michael.J.Campbell@bhpbilliton.com
Relations
Tel: +1 713 961 8625
Mobile: +1 713 480 3699
email:
Francis.R.McAllister@bhpbilliton.com
Date: 14/01/2004 08:53:03 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department |
|
