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BHP Billiton Ltd (BHP)

BHP on New York Consolidated

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23 Jan 2017
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Latest Key Developments (Source: Significant Developments)

BHP wins bid for stake in deep-water Trion field in Gulf of Mexico
Monday, 5 Dec 2016 11:16am EST 

BHP Billiton Plc : Submitted winning bid to acquire a 60 per cent interest in and operatorship of blocks containing Trion Discovery located in deep-water Gulf of Mexico . Says PEMEX Exploration & Production Mexico (PEMEX) will retain a 40 percent interest in blocks . Says PEMEX estimates gross recoverable resource to be 485 mmboe . Says bid for Trion includes an upfront cash payment of $62.4 million and a commitment to a minimum work program (estimated to be up to a maximum of $320 million) . Says should BHP and PEMEX agree to progress project beyond minimum work program BHP would be required to invest remainder of $570 million minimum work contribution . Says should BHP Billiton and PEMEX agree to progress project beyond minimum work program BHP would also be required to invest a $624 million cash contribution .Says BHP Billiton's bid also includes a commitment to an additional royalty of 4 pct.  Full Article

Jubilee Platinum says unit rejects BHP's termination of supply agreement
Wednesday, 9 Nov 2016 07:30am EST 

Jubilee Platinum Plc : In relation to co's subsidiary received from BHP Billiton a notice of termination of tailings supply agreement dating back to 2005 relating to the Leinster Nickel operations in Western Australia . Braemore has informed BHP that it rejects termination notice, it believes no factual or legal basis exists for such termination . Braemore has been continuing with internal review of nickel tailings project .Nickel tailings project does not form part of co's earnings has no influence on execution of jubilee's platinum and chrome projects.  Full Article

BHP Billiton's Samarco disaster coordinator to leave company in March
Thursday, 27 Oct 2016 01:02am EDT 

BHP Billiton Plc : Chief commercial officer dean dalla valle will leave the company at the end of march 2017 . Will centralise the management of Samarco alongside the group's other major minerals non-operated joint ventures in the minerals Americas portfolio For write up on this click on: [nL4N1CX2AX] Further company coverage: [BLT.L] ((Bengaluru Newsroom +918067491136;)).  Full Article

Bhp Billiton updates on petroleum business
Wednesday, 5 Oct 2016 01:27am EDT 

Bhp Billiton Ltd : Says positive drilling results at Caicos exploration well in Gulf Of Mexico .Bhp billiton is expecting unit operating costs to remain at approximately US$10 per boe over 2017 and 2018 financial years.  Full Article

Civmec ltd secured a contract to carry out modification works for BHP Billiton
Thursday, 29 Sep 2016 05:44am EDT 

Civmec Ltd : Secured a contract to carry out modification works for bhp billiton (bhpb) on orebody18 mine in pilbara area of western australia .Work involves a vertical package delivery of, steelwork, site civil works, structural, mechanical, piping and electrical, instrumentation and control.  Full Article

Westpac Banking Corp issues dividend update
Monday, 5 Sep 2016 04:32pm EDT 

Westpac Banking Corp: Westpac views over securities in BHP . amending dividend payable on Westpac views over securities in BHP from $0.1819 per security to $0.1852 per security .  Full Article

Woodside Petroleum agrees to acquire half of BHP Billiton's Scarborough assets
Sunday, 4 Sep 2016 07:30pm EDT 

Woodside Petroleum Ltd : Woodside agrees to acquire half of BHPB's Scarborough assets . Woodside will pay BHP Billiton US$250 million on completion of the transaction . Entered into binding sale and purchase agreements to acquire half of BHP Billiton's Scarborough area assets in Carnarvon basin . Acquisition includes a 25% interest in wa-1-r and a 50% interest in wa-62-r, which together contain the Scarborough gas field . Will make contingent payment of US$150 million upon a positive final investment decision to develop the Scarborough field . Completion is subject to pre-emption rights and customary regulatory approvals and is targeted by year- end 2016. . Woodside will operate wa-61-r, wa-62-r and wa-63-r" . Says the effective date of the transaction is 1 July 2016 .  Full Article

BHP Billiton updates on investigation findings into causes of failure at Samarco dam
Monday, 29 Aug 2016 05:48pm EDT 

BHP Billiton Ltd : Samarco update . Panel of 4 geotechnical specialists published findings into causes of failure of FundãO tailings dam at iron ore operations of Samarco . Dean Dalla Valle, BHP Billiton's chief commercial officer, said the dam failure had a devastating impact . Vale, BHP Billiton brasil and Samarco jointly commissioned Cleary Gottlieb Steen & Hamilton LLP to investigate cause of failure . Separately undertaken a comprehensive review of significant dams, which has confirmed that those dams are stable . Says reviewing non-operated minerals joint ventures in its portfolio . Says will centralise management of all major non-operated minerals joint ventures in the minerals americas operating group . Says will establish a new BHP Billiton global standard for non-operated minerals joint ventures .Will apply the process for dam safety reviews developed by the Canadian Dam Association at all of its minerals assets.  Full Article

BHP Billiton updates on outlook
Tuesday, 16 Aug 2016 02:19am EDT 

BHP Billiton Ltd : "Expect findings of the external investigation into the cause of the dam failure to be released shortly" . "Near-term is difficult" . "On track to deliver US$2.2 billion of gains over two years to end FY 2017" .  Full Article

BHP Billiton says FY statutory attributable loss $6.39 bln
Tuesday, 16 Aug 2016 02:12am EDT 

BHP Billiton Ltd : BHP Billiton results for the year ended 30 June 2016 . There were no fatalities at our operated sites in the 2016 financial year. . FY statutory attributable loss $6.385 billion versus profit of $1.91 billion a year ago . Determined to pay final dividend of 14 US cents per share . Capital and exploration expenditure declined by 42% to US$6.4 billion and is expected to decrease further to US$5.0 billion in the 2017 financial year . On a cash basis, capital and exploration expenditure was US$7.7 billion and is forecast to decline to US$5.4 billion in the 2017 financial year. . FY revenue down 31% to $30.912 billion . "Net debt of US$26.1 billion broadly unchanged from December 2015." . "Over the medium term, China is expected to grow more slowly" . The adjusted effective tax rate is expected to be in the range of approximately 35 to 40 per cent for the 2017 financial year. . "Next year, we expect another US$1.8 billion of productivity gains" . Says Samarco has confirmed it is unlikely to have in place the necessary approvals to restart its operations in this calendar year . "Economic uncertainty and high inventory levels of crude oil are likely to keep prices volatile but range bound" . Forecast "delivering more than US$7 billion of free cash flow based on current spot prices and a forecast reduction in net debt" . "We are confident in the long-term outlook for our commodities, particularly oil and copper.".  Full Article

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Brazilian miner Vale's stock rally far from over: Itaú BBA

SAO PAULO Shares in Brazilian miner Vale SA will continue to rise after more than doubling last year, even as iron ore prices turn lower, analysts at Itaú BBA told Reuters.