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BHP Billiton PLC (BBL)

BBL on New York Consolidated

30.73USD
28 Apr 2017
Change (% chg)

$0.51 (+1.69%)
Prev Close
$30.22
Open
$30.59
Day's High
$30.83
Day's Low
$30.50
Volume
1,073,645
Avg. Vol
1,884,565
52-wk High
$37.44
52-wk Low
$22.37

Latest Key Developments (Source: Significant Developments)

Bhp Billiton cuts full-year copper forecast, narrows Iron ore guidance
Tuesday, 25 Apr 2017 06:51pm EDT 

April 26 (Reuters) - Bhp Billiton Ltd :Full year production guidance maintained for petroleum and energy coal.Total petroleum production for nine months ended March 2017 decreased by 15 per cent to 156.5 MMBOE.Total copper production for nine months ended March 2017 decreased by 20 per cent to 939 kt.WAIO production guidance narrowed to between 268 and 272 MT (100% basis).Total iron ore production for nine months ended march 2017 increased by three per cent to a record 171 MT.Copper guidance for 2017 financial year has been reduced to between 1,330 and 1,360 KT following 44 days of industrial action at escondida.Petroleum exploration expenditure guidance of us$820 million remains unchanged for 2017 financial year.Iron ore guidance for 2017 financial year has been narrowed to between 231 and 234 mt, or between 268 and 272 MT on a 100 per cent basis.Commissioning of escondida water supply project and planned ramp-up of los colorados extension project are now expected in september 2017 quarter..Operations are expected to return to full capacity in escondida during APRIL 2017, with a focus on safety during transition period.Due to damage to third party rail infrastructure caused by cyclone debbie, metallurgical coal production guidance reduced to between 39 and 41 mt in FY.Eescondida copper production of between 780 and 800 kt is now expected for 2017 financial year.Energy coal production for nine months ended March 2017 remained broadly in line at 21 MT.  Full Article

Mitchell Services says entered into one-year contract with BHP Billiton
Wednesday, 19 Apr 2017 08:25pm EDT 

April 20 (Reuters) - Mitchell Services Ltd ::Material contract award.Has entered into a one-year contract containing two one-year extension options with BHP Billiton at its Olympic dam mine in South Australia.Contract is material in size based on anticipated resulting revenue..Under contract, Co will provide underground diamond drilling services.  Full Article

BHP Billiton responds to Elliott's restructure plan
Wednesday, 12 Apr 2017 12:24am EDT 

BHP Billiton Ltd : BHP Billiton review of Elliott proposal . "Elliott's proposals are not new to BHP Billiton" . "Believe that Elliott materially overstates potential value that could be created by its proposals" . Board, management concluded that costs and associated disadvantages of each element of Elliott's proposal would significantly outweigh potential benefits . Unifying DLC structure in manner proposed by Elliott could destroy at least US$1.3 billion in value to save less than US$2.5 million a year . Petroleum remains core to BHP Billiton strategy and has potential to create significant long term value at high returns . "View is that petroleum business as a part of BHP Billiton portfolio currently offers more value to shareholders than if it were a separate entity" . After assessing proposal, we have not identified any material or broader strategic benefits from unification in manner proposed by Elliott . Shareholders would face downside risk if new London listed shares by Elliott's proposal were to trade at blended price of existing BHP Billiton PLC & BHP Billiton Ltd shares . South African shareholders would face risk as they would not obtain capital gains tax roll-over relief and might need to pay tax under Elliott's proposal . "Expects that shareholders will benefit from realization of high returning growth options in BHP Billiton's US petroleum business".  Full Article

BHP says costs, risks of Elliott proposal outweigh benefits
Monday, 10 Apr 2017 06:53am EDT 

BHP Billiton Plc : BHP Billiton notes Elliott proposal . Regularly reviews opportunities to create value . Those reviews have included key elements of Elliott's proposal . Concluded that costs and associated risks of Elliott's proposal would significantly outweigh any potential benefits. . Notes publication of letter from Elliott and Elliott , , which outlines proposal for changes to group's DLC structure, asset portfolio, capital management . We have had dialogue with Elliott over many months, consistent with our commitment to shareholder engagement . Unification of DLC in manner proposed by Elliott would require approval by Australian foreign investment review board. . BHP Billiton will consider further its detailed response to proposal and will make a further announcement in due course. . There is no obvious discount in BHP Billiton's trading multiples relative to weighted average of relevant mining and oil and gas peers. . Disclosed information market needs to fully value petroleum business . Have not yet identified sufficient benefits to outweigh significant costs which would be incurred in unifying DLC .Elliott's demerger proposal is based on a view that investors would ascribe a higher value for these assets in a separately listed entity.  Full Article

Elliott Advisors sends letter to directors of BHP Billiton outlining "shareholder value unlock plan"
Monday, 10 Apr 2017 02:05am EDT 

BHP Billiton Ltd : Elliott Advisors - sends letter and presentation to directors of BHP Billiton outlining "shareholder value unlock plan" . Elliott Advisors - Elliott Funds, with some affiliates, hold long economic interest in respect of about 4.1% of issued share capital of BHP Billiton . Elliott Advisors - outlining three key steps including demerging and separately listing BHP's US petroleum business on NYSE . Elliott Advisors - outlined plan that could enable management to provide BHP shareholders with an increase in value attributable to their shareholdings .Elliott Advisors - outlined plan includes unifying BHP's dual-listed structure into single Australian-headquartered and Australian tax resident listed co.  Full Article

BRIEF-BHP says crews returning to work at Australia's Bowen basin ops
Monday, 3 Apr 2017 04:05am EDT 

Bhp Billiton Ltd : Update following cyclone debbie . At Queensland’s Bowen Basin, crews are returning to work at its coal mines. . Will seek to manage ongoing access to ports and shipments to customers. The hay point terminal is ready to receive coal. . Continue to monitor and work through the impacts to production. Will provide updates over coming weeks and detail in operational review Further company coverage: [BHP.AX] (Bengaluru Newsroom: +91 80 6749 1136) Keywords: (CORRECTED).  Full Article

BHP Billiton declares interim dividend of 40 cents per share
Monday, 6 Mar 2017 04:48am EST 

Investec Bank Plc - : Directors of BHP Billiton declared interim dividend of 40 cents per ordinary share payable on 28 March 2017 .Currency exchange rate applicable for BHP Billiton's dividend is 13.12600.  Full Article

BHP Billiton prices offer as part of its $2.5 bln bond repurchase plan
Monday, 27 Feb 2017 04:27pm EST 

BHP Billiton Ltd : BHP Billiton prices any and all offer-bhp.ax . announced today pricing of any and all offer as part of its us$2.5 billion bond repurchase plan. .unit announced pricing of its previously announced tender offer for any and all of its outstanding us$1.75 billion 6.500% senior notes due 2019.  Full Article

BHP board approves bond repurchase plan of up to $2.5 billion
Tuesday, 21 Feb 2017 01:15am EST 

BHP Billiton Plc : Board has approved a bond repurchase plan of up to us$2.5 billion . Plan will target 2018, 2019, 2021, 2022 and 2023 us dollar denominated notes . Bond repurchase will be funded by cash . BHP Billiton Finance (USA) limited announces offers to purchase up to $1.95 billion purchase price of the 2019, 2021, 2022 and 2023 notes Further company coverage: [BLT.L] (Bengaluru Newsroom) ((+91 806 749 1136;)).  Full Article

BHP Billiton posts half-year net profit of $3.20 bln from year-ago loss of $5.67 bln
Tuesday, 21 Feb 2017 12:55am EST 

Bhp Billiton Ltd : HY net profit $3.20 billion versus loss of $5.67 billion year ago . World economic growth is likely to remain within range of three to three and a half per cent in 2017 calendar year . HY revenue up 20% to $18.80 billion . Interim dividend of 40 US cents per share . HY underlying attributable profit from continuing operations $3.244 billion versus $412 million . "View on China remains unchanged" . China's economic growth is expected to moderate in coming year . Capital and exploration expenditure is now expected to be US$5.6 billion for 2017 financial year and US$6.3 billion in 2018 financial year . "Anticipate a cooling of growth rates in housing and automobile markets" . "A decline in unit costs at major assets supported US$1.2 billion of productivity gains in half" . "Exports may be challenged by rising threat of protectionism" . Negotiations in relation to a final settlement arrangement with federal prosecutors on Samarco are expected to occur before end of June 2017 . Restart of Samarco's operations will occur only if it is safe, economically viable and has support of community . "Longer term, view remains that China's economic growth rate will decelerate" . "Our minimum 50 per cent dividend payout policy equates to 30 US cents per share" . Outlook for US economy is uncertain . Net debt of US$20.06 billion as at Dec 31, 2016 , down 23 percent . "Medium-term impact on growth is unclear" for US.  Full Article

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