Key Developments: BHP Billiton PLC (BLT.L)

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Latest Key Developments (Source: Significant Developments)

BHP Billiton plc Considers Sale Of UK Petroleum Operations; To Sell Minority Interest In Planned Browse Gas-export Project To PetroChina Co Ltd-DJ
Wednesday, 19 Dec 2012 03:26am EST 

Dow Jones reported that BHP Billiton plc is considering exiting its U.K. petroleum operations, including crude oil and natural gas fields and a processing plant, as part of ongoing efforts to tighten the focus of its portfolio of mining and energy assets. The Company has launched a strategic review of the business and is exploring options, include the possible sale of the assets. BHP operates Liverpool Bay, which consists of five producing offshore gas and oil fields in the Irish Sea and the Point of Ayr onshore processing plant in north Wales, and associated infrastructure. It owns a 46.1% stake in the operation, while ENI SpA owns the rest. Earlier this month, BHP agreed to sell a minority interest in the planned Browse gas-export project off Western Australia to PetroChina Co Ltd for USD1.63 billion in cash.  Full Article

BHP Billiton plc To Sell Interest In East And West Browse Joint Ventures
Wednesday, 12 Dec 2012 02:00am EST 

BHP Billiton plc announced that it has signed a definitive agreement with PetroChina International Investment (Australia) Pty Ltd to sell its 8.33% interest in the East Browse Joint Venture and 20% interest in the West Browse Joint Venture, located offshore Western Australia, for a cash consideration of USD1.63 billion. The transaction is subject to regulatory approval and other customary conditions. Completion is expected in the first half of calendar year 2013.  Full Article

BHP Billiton plc Announces Sale Of Diamonds Business
Tuesday, 13 Nov 2012 09:11am EST 

BHP Billiton plc announced that it has signed definitive agreements to sell its diamonds business, comprising its interests in the EKATI Diamond Mine and Diamonds Marketing operations, to Harry Winston Diamond Mines Ltd. (Harry Winston) for an aggregate cash consideration of US$500 million. The transactions are subject to regulatory approval and other customary conditions. Completion is expected in the first quarter of calendar year 2013. Under the terms of the agreements, Harry Winston will assume all of BHP Billiton's obligations under EKATI's Environmental Agreement with the Government of Canada and the Northwest Territories, Socio-Economic Agreement with the Government of the Northwest Territories, Impact and Benefit Agreements with Aboriginal Groups and pension liabilities linked to the mine's defined benefit scheme. Harry Winston is also committed to maintaining EKATI's environmental standards and will continue to work with local businesses and communities in the Canadian North. All BHP Billiton employees working at EKATI, in Yellowknife and in Diamonds Marketing in Antwerp will become employees of Harry Winston as part of the transaction.  Full Article

BHP Billiton plc Prices AUD1.0 Billion Note Issue
Tuesday, 9 Oct 2012 03:11am EDT 

BHP Billiton plc announced that it has priced a five year AUD1.0 billion note issue under its Australian Medium Term Note Program. The Australian dollar notes will pay interest at 3.75% and mature in October 2017. The proceeds will be used for general corporate purposes.  Full Article

BHP Billiton plc To Cut Iron Ore Jobs As Mining Slowdown Bites-Reuters
Monday, 8 Oct 2012 09:36pm EDT 

Reuters reported that BHP Billiton plc plans to shed an undisclosed number of jobs in iron ore, its most profitable business, as it battles weaker demand and higher costs, adding to mining job losses in Australia.  Full Article

BHP Billiton plc May Bid For Petrobras Gulf Stake-Reuters
Wednesday, 3 Oct 2012 05:07pm EDT 

Reuters reported that BHP Billiton plc is among the companies talking to Petrobras about buying a stake in the Brazilian state-led oil company's Gulf of Mexico oil fields, the Wall Street Journal reported. Petrobras has said it is looking for a buyer for a portion of its multi-billion dollar Gulf of Mexico holdings.  Full Article


Japan fourth quarter aluminum premiums mostly set at record high $420 per tonne: sources

TOKYO - Japanese aluminum buyers will mostly pay record high premiums of $420 per tonne over London Metal Exchange (LME) prices for October-December shipments, up 3-5 percent from the prior quarter, five sources directly involved in the talks said.

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