UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
April 20, 2011
| BHP BILLITON LIMITED (ABN 49 004 028 077) (Exact name of Registrant as specified in its charter) |
BHP BILLITON PLC (REG. NO. 3196209) (Exact name of Registrant as specified in its charter) |
| VICTORIA, AUSTRALIA (Jurisdiction of incorporation or organisation)
180 LONSDALE STREET, MELBOURNE, VICTORIA 3000 AUSTRALIA (Address of principal executive offices) |
ENGLAND AND WALES (Jurisdiction of incorporation or organisation)
NEATHOUSE PLACE, VICTORIA, LONDON, UNITED KINGDOM (Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
x Form 20-F ¨ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
¨ Yes x No
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a
| NEWS RELEASE |
|
| Release Time | IMMEDIATE | |||
| Date | 20 April 2011 | |||
| Number | 14/11 | |||
BHP BILLITON EXPLORATION AND DEVELOPMENT REPORT
FOR THE QUARTER ENDED 31 MARCH 2011
This report covers the Group’s exploration and development activities for the quarter ended 31 March 2011. Unless otherwise stated, BHP Billiton’s interest in the projects referred to in this report is 100 per cent and references to project schedules are based on calendar years.
Development
BHP Billiton approved major projects with a total investment value of US$9.8 billion (BHP Billiton share) during the March 2011 quarter. The progression of these projects into execution forms a meaningful component of the company’s anticipated organic growth program that is expected to exceed US$80 billion over the five years to the end of the 2015 financial year.
At Western Australia Iron Ore (WAIO), a commitment was made to further expand capacity to in excess of 220 million tonnes per annum (mtpa). BHP Billiton also commenced the important expansion of its Metallurgical Coal business with the approval of the 4.5 mtpa Daunia mine, the Stage Three Expansion of the Hay Point Coal Terminal and the Broadmeadow Life Extension project. In addition, BHP Billiton approved the RX1 Project at Hunter Valley Energy Coal and the Escondida Ore Access Project (copper).
BHP Billiton’s longer term growth potential was further emphasised by the progression of both the Olympic Dam Project (copper and uranium) and Jansen Potash Project into feasibility.
The MAC20 Project (energy coal) was completed in the March 2011 quarter and delivered first coal ahead of schedule and on budget. This project will no longer be reported in future Exploration and Development Reports.
| Project And Ownership |
Share Of Approved Capex US$M |
Initial Production Target Date |
Production Capacity (100%) |
Quarterly Progress | ||||||||
| Petroleum Projects |
||||||||||||
| Macedon (Australia) 71.43% Gas |
1,050 | CY13 | 200 million cubic feet gas per day | On schedule and budget. The overall project is 18% complete. | ||||||||
2
| Project And Ownership |
Share Of Approved Capex US$M |
Initial Production Target Date |
Production Capacity (100%) |
Quarterly Progress | ||||
| Angostura Gas Phase II (Trinidad and Tobago) 45% Gas |
180 | H1 CY11 | 280 million cubic feet gas per day | On schedule and budget. Topsides commissioned and ready to deliver gas. The overall project is greater than 99% complete. | ||||
| Bass Strait Kipper (Australia) 32.5% - 50% Gas/Gas Liquids |
900 | CY12(a) | 10,000 bpd condensate and processing capacity of 80 million cubic feet gas per day | On revised schedule and budget. Pipelines installed and subsea infrastructure installation in progress. The overall project is 73% complete. | ||||
| Bass Strait Turrum (Australia) 50% Gas/Gas Liquids |
1,350 | CY13 | 11,000 bpd condensate and processing capacity of 200 million cubic feet gas per day | On revised schedule and budget. Topsides nearing completion with substructure installation imminent. The overall project is 60% complete. | ||||
| North West Shelf CWLH Life Extension (Australia) 16.67% Oil |
245 | CY11 | Replacement vessel with capacity of 60,000 bpd oil | On schedule and budget. Floating Production Storage and Offtake (FPSO) conversion continues. Offshore construction activity has commenced. The overall project is 89% complete. | ||||
| North West Shelf North Rankin B Gas Compression (Australia) 16.67% LNG |
850 | CY12 | 2,500 million cubic feet gas per day | On schedule and budget. The overall project is 65% complete. | ||||
| Minerals Projects | ||||||||
| Worsley Efficiency & Growth (Australia) 86% Alumina |
1,900 | H1 CY11 | 1.1 million tpa of additional alumina | Budget and schedule is under review. Construction is 61% complete. The overall project is 70% complete. | ||||
| Antamina Expansion (Peru) 33.75% Copper |
435 | Q4 CY11 | Increases ore processing capacity to 130,000 tpd | On schedule and budget. Engineering is 99% complete. Construction is 40% complete. The overall project is 49% complete. | ||||
| Escondida Ore Access (Chile) 57.5% Copper |
319 | Q2 CY12 | The relocation of the in-pit crushing and conveyor infrastructure provides access to higher grade ore | Approval announced. See News Release dated 30 March 2011. | ||||
3
| Project And Ownership |
Share Of Approved Capex US$M |
Initial Production Target Date |
Production Capacity (100%) |
Quarterly Progress | ||||
| WAIO RGP5 (Australia) 85% Iron Ore |
4,800 | H2 CY11 | Scope review completed and integrated into subsequent expansion approvals that will increase WAIO capacity to 220 million tpa | On schedule and budget based on original scope. Engineering is over 99% complete. Construction is 94% complete. The overall project is 95% complete. | ||||
| WAIO Jimblebar Mine Expansion (Australia) 96% Iron Ore |
3,300(b) | Q1 CY14 | Increases mining and processing capacity to 35 million tpa with incremental debottlenecking opportunities to 55 million tpa | Approval announced. See News Release dated 25 March 2011. | ||||
| WAIO Port Hedland Inner Harbour Expansion (Australia) 85% Iron Ore |
1,900(b) | H2 CY12 | Increases total inner harbour capacity to 220 million tpa with debottlenecking opportunities to 240 million tpa | Approval announced. See News Release dated 25 March 2011. | ||||
| WAIO Port Blending and Rail Yard Facilities (Australia) 85% Iron Ore |
1,400(b) | H2 CY14 | Optimises resource and enhances efficiency across the WAIO supply chain | Approval announced. See News Release dated 25 March 2011. | ||||
| Daunia (Australia) 50% Metallurgical Coal |
800 | CY13 | Greenfield mine development with capacity to produce 4.5 million tpa of export metallurgical coal | Approval announced. See News Release dated 25 March 2011. | ||||
| Broadmeadow Life Extension (Australia) 50% Metallurgical Coal |
450 | CY13 | Increases productive capacity by 0.4 million tpa and extends life of the mine by 21 years | Approval announced. See News Release dated 25 March 2011. | ||||
| Hay Point Stage Three Expansion (Australia) 50% Metallurgical Coal |
1,250(b) | CY14 | Increases port capacity from 44 million tpa to 55 million tpa and reduces storm vulnerability | Approval announced. See News Release dated 25 March 2011. | ||||
4
| Project And Ownership |
Share Of Approved Capex US$M |
Initial Production Target Date |
Production Capacity (100%) |
Quarterly Progress | ||||
| MAC20 Project (Australia) 100% Energy Coal |
260 | H1 CY11 | Increases saleable thermal coal production by approximately 3.5 million tpa | Project is complete. First coal delivered ahead of schedule and on budget. | ||||
| RX1 Project (Australia) 100% Energy Coal |
400 | H2 CY13 | Increases run-of-mine thermal coal production by approximately 4 million tpa | Approval announced. See News Release dated 25 March 2011. | ||||
| (a) | Facilities ready for first production pending resolution of mercury content. |
| (b) | Excludes announced pre-commitment funding. |
Minerals Exploration
Grassroots exploration continued on copper targets in South America, Mongolia and Zambia; nickel and copper targets in Australia; manganese targets in Gabon; and diamond targets in Canada. Exploration for iron ore, coal, bauxite, potash and manganese was undertaken in a number of regions including Australia, Canada, South America and Africa.
For the nine months ended 31 March 2011, BHP Billiton spent US$428 million on minerals exploration, of which US$356 million was expensed.
Petroleum Exploration
Exploration and appraisal wells drilled during the quarter or in the process of drilling as at 31 March 2011.
| Well |
Location |
BHP Billiton Equity |
Status | |||
| Deep Blue-1 | Green Canyon Gulf of Mexico | 31.875% | Temporarily suspended | |||
| GC 723 | (Noble operator) | Hydrocarbons encountered | ||||
Petroleum exploration expenditure for the nine months ended 31 March 2011 was US$247 million, of which US$199 million was expensed. Our petroleum exploration expenditure for the 2011 financial year is now expected to be less than US$600 million. The decrease is largely due to permitting delays in the Gulf of Mexico.
This report, together with the Production Report, represents the Interim Management Statement for the purposes of the UK Listing Authority’s Disclosure and Transparency Rules. There have been no significant changes in the financial position of the Group in the quarter ended 31 March 2011.
5
Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com
| Australia | United Kingdom & South Africa | |
| Brendan Harris, Investor Relations | Andre Liebenberg, Investor Relations | |
| Tel: +61 3 9609 4323 Mobile: +61 437 134 814 | Tel: +44 20 7802 4131 Mobile: +44 7920 236 974 | |
| email: Brendan.Harris@bhpbilliton.com | email: Andre.Liebenberg@bhpbilliton.com | |
| Samantha Stevens, Media Relations | United Kingdom & Americas | |
| Tel: +61 3 9609 2898 Mobile: +61 400 693 915 | Ruban Yogarajah, Media Relations | |
| email: Samantha.Stevens@bhpbilliton.com | Tel: US +1 713 966 2907 or UK +44 20 7802 4033 | |
| Mobile: UK +44 7827 082 022 | ||
| Amanda Buckley, Media Relations | email: Ruban.Yogarajah@bhpbilliton.com | |
| Tel: +61 3 9609 2209 Mobile: +61 419 801 349 email: Amanda.Buckley@bhpbilliton.com |
Americas | |
| Scott Espenshade, Investor Relations | ||
| Kelly Quirke, Media Relations | Tel: +1 713 599 6431 Mobile: +1 713 208 8565 | |
| Tel: +61 3 9609 2896 Mobile: +61 429 966 312 | email: Scott.Espenshade@bhpbilliton.com | |
| email: Kelly.Quirke@bhpbilliton.com | ||
| Fiona Martin, Media Relations | ||
| Tel: +61 3 9609 2211 Mobile: +61 427 777 908 email: Fiona.Martin2@bhpbilliton.com |
||
| BHP Billiton Limited ABN 49 004 028 077 | BHP Billiton Plc Registration number 3196209 | |
| Registered in Australia | Registered in England and Wales | |
| Registered Office: 180 Lonsdale Street | Registered Office: Neathouse Place | |
| Melbourne Victoria 3000 Australia | London SW1V 1BH United Kingdom | |
| Tel +61 1300 55 4757 Fax +61 3 9609 3015 | Tel +44 20 7802 4000 Fax +44 20 7802 4111 | |
Members of the BHP Billiton group which is headquartered in Australia
6
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BHP Billiton Limited and BHP Billiton Plc | ||||||||
| Date: April 20, 2011 | By: | /s/Jane McAloon |
||||||
| Name: | Jane McAloon | |||||||
| Title: | Group Company Secretary | |||||||