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BHP Billiton Ltd (BHP)

BHP on New York Consolidated

20 Jul 2017
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Latest Key Developments (Source: Significant Developments)

BHP Billiton says total iron ore production for FY17 increased by 4 pct
Tuesday, 18 Jul 2017 06:25pm EDT 

July 19 (Reuters) - BHP Billiton Ltd :total petroleum production for 2017 financial year decreased by 13 per cent to 208 mmboe..petroleum production is forecast to decrease to between 180 and 190 mmboe in 2018 financial year..total iron ore production for 2017 financial year increased by four per cent to 231 mt.‍expect to achieve full year unit cost guidance at WAIO and conventional petroleum​.Total copper production for 2017 financial year decreased by 16 per cent to 1.3 mt.Total copper production is forecast to increase to between 1,655 and 1,790 kt in 2018 financial year.."in onshore US, volumes are expected to decline to between 61 and 67 mmboe".WAIO production is expected to increase to between 239 and 243 mt, or between 275 and 280 mt on a 100 per cent basis, in 2018 financial year.‍divestment of non-core onshore us acreage is progressing, with sale of a portion of southern hawkville anticipated in september 2017 quarter​.expanded rig program is forecast to deliver production growth of approximately 35 per cent in 2019 financial year.‍in petroleum exploration, drilling of wildling-2 appraisal well in gulf of mexico is continuing, with results expected in september 2017 quarter​.‍all major projects under development are tracking to plan​.‍"industrial action and cyclone debbie have impacted unit costs at escondida and queensland coal respectively"​.in 2018 financial year expect an increase to approximately us$2.0 billion in petroleum capex.  Full Article

BHP updates on legal settlelement over the Samarco mine disaster in Brazil
Friday, 30 Jun 2017 02:20am EDT 

June 30 (Reuters) - BHP Billiton Ltd :Approved a total of US$250 million in financial support for renova foundation and Samarco Mineração S.A. Until 31 Dec 2017.The amount of US$174 million will be used to fund renova foundation for remediation and compensation programs identified under framework agreement.Operations at Samarco are unlikely to restart in cy2017.This $174 million amount will be offset against group's provision for samarco dam failure.Short-term facility of up to US$76 million will be made available to samarco to carry out remediation, stablisation work & to support Samarco's operations.Resuming operations at Samarco would require government approvals, granting of licenses by state authorities and restructure of Samarco's debt.‍On 18 Jan, Samarco, Vale S.A. (Vale) and BHP Billiton Brasil entered preliminary agreement with federal prosecutors' office in Brazil​.Court has extended final date for negotiation of a settlement until 30 October 2017.‍Under prelim agreement, parties agreed to suspend federal prosecutor's brl 7.7 billion injunction application in BRL 155 billion civil claim​.‍Parties agreed to request 12th federal court of Belo Horizonte replace BRL 1.2 billion injunction in BRL 20 billion civil claim with interim security of BRL 2.2 billion​.‍Parties also agreed under preliminary agreement to suspend BRL 20 billion asset freezing order application made by federal prosecutors​.  Full Article

Elliott says supports new BHP chair and new direction for BHP
Thursday, 15 Jun 2017 09:01pm EDT 

June 15 (Reuters) - :Elliott says supports new BHP chair and new direction for BHP.Elliott says "appointment of Kenneth Mackenzie as next chair is a constructive step in bringing much needed change to direction of BHP".  Full Article

Elliott releases statement on growing calls for change from BHP shareholders
Tuesday, 13 Jun 2017 07:44pm EDT 

June 13 (Reuters) - Elliott -:Elliott says released statement regarding growing calls for change from BHP shareholders as company prepares to announce a new chairperson.Elliott says, over past few weeks, BHP's shareholders have made clear that substantial and meaningful change is needed.Elliott says shareholder frustration is understandable "considering BHP's sustained underperformance".Elliott says "appointment of a strong, experienced, and visionary chairperson would be a welcomed first step for BHP".  Full Article

BHP says disappointed at Elliott claim that co not open to suggestions
Tuesday, 16 May 2017 02:49am EDT 

May 16 (Reuters) - BHP Billiton Ltd ::Note the letter that Elliott have sent to BHP and Elliott’s presentation.Co says will review the materials in full and formally respond as appropriate.Co says disappointed that the materials claim that co has not been open to suggestions and that has been misleading in its response.Co says we reject both claims.  Full Article

BHP CEO says all options to fully realise value of Shale acreage will be pursued
Tuesday, 16 May 2017 02:00am EDT 

May 16 (Reuters) - BHP Billiton Plc ::"We will remain disciplined, drive consistent, transparent application of our capital allocation framework, which includes cash returns to shareholders" - ceo."We have achieved a great deal over past year but we are not standing still" - ceo."All options to fully realise value of Shale acreage will be pursued, including further appraisal, new technology and asset sales and swaps" - ceo."Petroleum exploration program has unrisked value of over $20 billion, close to a quarter of which sits in low to medium risk prospects to be tested in next two years" - ceo."Further cost reductions support a 10 per cent value uplift" - ceo."Major growth projects valued at up to us$25 billion offer potential average returns of over 16 per cent at consensus prices" - ceo."Studies on olympic dam expansion are progressing well" - ceo."Phased expansion of Jansen Potash Project is expected to generate competitive returns in stage 1, with significant potential upside in subsequent stages" -ceo.  Full Article

Activist investor Elliott calls for independent review of BHP's petroleum unit
Monday, 15 May 2017 07:45pm EDT 

May 15 (Reuters) - :Elliott - Elliott responds to BHP's approach to unlocking shareholder value.Elliott - calling for an in-depth, open and timely independent review of BHP's petroleum business.Elliott - under revised proposal, BHP would stay incorporated in Australia, Australian headquartered and Australian tax resident.Elliott - under revised proposal, BHP would retain full ASX and LSE listings, with ordinary shares listed on ASX..Elliott - offers BHP new approach as solution to regulatory concerns raised in recent feedback on unification ideas in shareholder value unlock plan.  Full Article

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

BHP Billiton Mitsubishi Alliance to invest $204 mln in Caval Ridge Southern Circuit
Friday, 21 Apr 2017 05:28am EDT 

April 21 (Reuters) - Bhp Billiton Plc :BHP Billiton Mitsubishi Alliance will invest US$204 million in the Caval Ridge Southern Circuit capital growth project, in central Queensland’s Bowen basin.Project will create up to 400 new construction jobs and lock in approximately 200 ongoing operational roles.Will also result in the caval ridge preparation plant increasing its throughput to reach its 10 million tonne per year capacity.Construction of the project is scheduled to commence mid CY2017 and take 18 months to complete.bhp billiton mitsubishi alliance will also invest in new mining fleet, including excavators, and trucks..  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

Australia shares fall as bank stocks lose steam, NZ steady

July 21 Bank stocks lost steam and pulled Australian shares lower on Friday as investors booked profits after two sessions of strong gains.