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BHP Billiton PLC (BLT.L)

BLT.L on London Stock Exchange

18 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

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

BHP Billiton says to step away from Caroona coal project
Thursday, 11 Aug 2016 06:34am EDT 

BHP Billiton Plc : Has agreed to cease progression of the Caroona coal project, through the cancellation of exploration licence (el) 6505 .Notes announcement by New South Wales government regarding approach to future mining activities where Caroona coal project is situated.  Full Article

BHP Billiton intends to invest about US$900 mln in exploration next financial year
Sunday, 26 Jun 2016 06:28pm EDT 

BHP Billiton Ltd :Says next financial year, intend to invest about $900 mln in exploration, which represents 18 pct of overall capital budget.  Full Article

BHP Billiton says coal business targeting additional $600 mln gain by 2017 end
Monday, 20 Jun 2016 06:38pm EDT 

BHP Billiton Ltd : Update on BHP Billiton's coal business . Coal business is targeting another US$600 mln productivity gain by the end of 2017 financial year . Even in difficult environment, all operations remain cash positive . Confident base demand in emerging economies will remain resilient . Higher quality coals position well in increasingly carbon constrained world . "Longer-term coal market outlook remains positive" . Energy coal markets are expected to remain oversupplied in near term . Further 16% reduction in absolute costs anticipated by FY 2017 . Expect to deliver a 5 MT (8%) increase in volumes from FY 2015 to FY 2018 ."Recovery in FY 2017 EBITDA margins despite lower expected prices".  Full Article

Exxon, BHP examining sale of joint Australia oil and gas assets - Bloomberg
Wednesday, 15 Jun 2016 04:26am EDT 

Exxon, BHP Examining Sale Of Joint Australia Oil And Gas Assets :Bloomberg.  Full Article

BHP Billiton plc to lay off 7 pct of workers at Spence copper mine in Chile - Reuters News
Tuesday, 12 Apr 2016 05:03pm EDT 

BHP Billiton plc:BHP Billiton will lay off about 7 percent of the 1,060 workers at its Spence copper mine in Chile, the mine's union said on Tuesday - RTRS.Tumbling copper prices have forced mining companies globally to lay off workers and scale back investment plans in a bid to cut costs and remain afloat."The company says the main reason for this is organizational restructuring and problems due to the drop in copper prices," union chief Ronald Salcedo told Reuters.In total, 77 workers are being laid of at Spence, including 11 supervisors, Salcedo added. A source close to the Anglo-Australian company confirmed the layoffs.Spence produced 175,600 tonnes of copper last year.  Full Article

BHP Billiton plc - Workers at Colombia's Cerrejon coal mine vote in favor of strike - Reuters
Thursday, 3 Mar 2016 03:30pm EST 

BHP Billiton plc:Union workers at Cerrejon, Colombia's largest coal mine, have voted in favor of a strike, the union said on Thursday, amid a dispute with the company over wages and benefits. - RTRS.The Sintracarbon union has 10 days to declare the start date for the strike, leader Jairo Quiroz said.Cerrejon is a joint venture between BHP Billiton, Anglo American Plc and Glencore Xstrata. It has been producing coal in Colombia since the mid-1980s under a concession that runs until 2033.  Full Article

BHP Billiton plc - Samarco to pay at least $5 bln in Brazil dam spill deal - source - Reuters
Tuesday, 1 Mar 2016 04:42pm EST 

BHP Billiton plc:Samarco Mineracao SA will pay at least 20 billion reais ($5 billion) over 15 years as part of a deal reached with the Brazilian government to settle a lawsuit for damages caused by a deadly dam spill at a mine in November, a government source told Reuters on Tuesday. - RTRS.Samarco, a joint venture between Vale and BHP Billiton, will pay 4.4 billion reais in the three years following the agreement that will be signed on Wednesday, said the official who requested anonymity since the information was not yet public.The rest of the funds will be released in the following years. Regarded as Brazil's worst environmental disaster, the burst dam killed 19 people, forced hundreds to leave their homes and polluted one of the country's main rivers.The deal comes after Vale announced a fourth-quarter net loss of $8.57 billion, its worst ever as a private company, and BHP recorded its first loss in more than 16 years for the six months to Dec. 31.BHP Billiton declined to comment on terms of any agreement, but reiterated that an agreement was close. Press representatives with Vale and Samarco were not immediately reachable for comment.The dam burst revealed a series of mistakes by under-funded mining and environmental regulators in one of the world's top iron-ore producer, triggering a debate over harsher mining controls in Congress.  Full Article

BHP Billiton plc - BHP Billiton says no settlement yet on Brazil dam disaster - Reuters
Thursday, 25 Feb 2016 04:20am EST 

BHP Billiton plc:BHP Billiton said on Friday that no agreement has been reached yet with Brazilian authorities to fund clean up and damages for a dam burst that killed at least 17 people in that country's worst environmental disaster. - RTRS.BHP put out a statement after an influential columnist for the O Globo newspaper said an agreement had been reached on Thursday.Under which Samarco, owned by BHP and Brazil's Vale, has committed to provide a total of 4.4 billion Brazilian reais ($1.1 billion) between 2016 and 2018 and additional funds for a further seven years.BHP said on Friday that talks were continuing."Significant progress has been made with the negotiations, and we are hopeful that an agreement will be reached," the company said in a statement to the Australian Securities Exchange, reiterating comments made in its annual results on Tuesday."If and when that happens, an announcement will be made at that time.".  Full Article


Brazil court extends deadline for Samarco to pay dam spill guarantee

BRASILIA A Brazilian judge has extended the deadline for Samarco and its shareholders Vale SA and BHP Billiton to make a 1.2 billion reais ($375.41 million) payment related to a dam spill to Jan 19, a statement from the court in the state of the Minas Gerais said on Wednesday.