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
February 8, 2012
| 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 | ENGLAND AND WALES | |
| (Jurisdiction of incorporation or organisation) | (Jurisdiction of incorporation or organisation) | |
| 180 LONSDALE STREET, MELBOURNE, VICTORIA 3000 AUSTRALIA |
NEATHOUSE PLACE, VICTORIA, LONDON, UNITED KINGDOM | |
| (Address of principal executive offices) | (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
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Interim results Half year ended 31 December 2011
Marius Kloppers Chief Executive Officer
Graham Kerr Chief Financial Officer
8 February 2012
Western Australia Iron Ore
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Disclaimer
Interim results, 8 February 2012
Slide 2
Forward-Looking Statements
This presentation includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding future events, conditions, circumstances and the future financial performance of BHP Billiton, including for capital expenditures, production volumes, project capacity, and schedules for expected production. Often, but not always, forward-looking statements can be identified by the use of the words such as “plans”, “expects”, “expected”, “scheduled”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, conditions, circumstances or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These forward-looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in the statements contained in this presentation. For more detail on those risks, you should refer to the sections of our annual report on Form 20-F for the year ended 30 June 2011 entitled “Risk factors”, “Forward looking statements” and “Operating and financial review and prospects” filed with the U.S. Securities and Exchange Commission. All estimates and projections in this presentation are illustrative only. Our actual results may be materially affected by changes in economic or other circumstances which cannot be foreseen. Nothing in this presentation is, or should be relied on as, a promise or representation either as to future results or events or as to the reasonableness of any assumption or view expressly or impliedly contained herein.
Non-IFRS Financial Information
BHP Billiton results are reported under International Financial Reporting Standards (IFRS) including Underlying EBIT and Underlying EBITDA which are used to measure segment performance. This presentation also includes certain non-IFRS measures including Attributable profit excluding exceptional items, Underlying EBIT margin, Underlying EBITDA interest coverage and Underlying effective tax rate. These measures are used internally by management to assess the performance of our business, make decisions on the allocation of our resources and assess operational management. Non-IFRS measures have not been subject to audit or review.
UK GAAP Financial Information
Certain historical financial information for periods prior to FY2005 has been presented on the basis of UK GAAP, which is not comparable to IFRS or US GAAP. Readers are cautioned not to place undue reliance on UK GAAP information.
No Offer of Securities
Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell BHP Billiton securities in any jurisdiction.
Reliance on Third Party Information
The views expressed in this presentation contain information that has been derived from publicly available sources that have not been independently verified. No representation or
warranty is made as to the accuracy, completeness or reliability of the information. This presentation should not be relied upon as a recommendation or forecast by BHP Billiton.
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Disclaimer
Interim results, 8 February 2012
Slide 3
Province Measured Resource
(Mt) Indicated Resource
(Mt) Inferred Resource (Mt) BHP Billiton interest %
Western Australia Iron Ore 2,210 3,871 13,240 88
Samarco JV 2,200 2,329 1,551 50
Olympic Dam 1,408 @ 1.08% Cu 4,571 @ 0.88% Cu 3,150 @ 0.74% Cu 100
Queensland Coal 2,812 5,293 4,889 55
Illawarra Coal 297 381 503 100
Potash – 3,250 @ 25.4% K2O 119 @ 26.7% K2O 100
Escondida 3,102 @ 0.75% Cu 4,670 @ 0.59% Cu 11,730 @ 0.49% Cu 57.5
Cerro Colorado 153 @ 0.65% Cu 188 @ 0.66% Cu 83 @ 0.64% Cu 100
Spence 241 @ 0.92% Cu 1,278 @ 0.47% Cu 1,174 @ 0.39% Cu 100
Antamina 188 @ 0.85% Cu 1,018 @ 0.92% Cu 708 @ 0.73% Cu 33.75
Mineral Resources
This presentation includes information on Mineral or Coal Resources. Mineral Resources are compiled by: P Whitehouse (MAusIMM) – Western Australian Iron Ore (WAIO) and Samarco, S O?Connell (MAusIMM) – Olympic Dam, A Paul (MAusIMM) – Queensland Coal and Illawarra Coal, T J Kilroe (MAusIMM) – Saskatchewan Potash, and R Preece (FAusIMM) – Escondida mineral district, Cerro Colorado, Spence and Antamina. This is based on Mineral Resource information in the BHP Billiton 2011 Annual Report for all assets, except Spence. Mineral Resource information for Spence is as at 31 December 2011 as disclosed in the BHP Billiton Exploration and Development Report for the quarter ended 31 December 2011. All reports can be found at www.bhpbilliton.com.
All information is reported under the „Australasian Code for Reporting of Mineral Resources and Ore Reserves, 2004? (the JORC Code) by the above-mentioned persons who are employed by BHP Billiton and have the required qualifications and experience to qualify as Competent Persons for Mineral or Coal Resources or Exploration Results under the JORC Code.
The compilers verify that this report is based on and fairly reflects the Mineral Resources information in the supporting documentation and agree with the form and context of the information presented.
Mineral Resource classification (100% basis) for each province, where relevant, are contained in Table 1.
Table 1
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Interim results Half year ended 31 December 2011
Marius Kloppers Chief Executive Officer
Escondida
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Strong and predictable financial results
Interim results, 8 February 2012
Slide 5
•Total Recordable Injury Frequency improved by 16%
•Underlying EBITDA of US$18.7 billion, up 8%
•Underlying EBIT of US$15.7 billion, up 6%
•Attributable profit (excluding exceptional items) of US$9.9 billion, down 7%
•Net operating cash flow of US$12.3 billion, up 1%
•Capital and exploration expenditure of US$9.6 billion
•Interim dividend of 55 US cents per share
•Gearing increased to 25% following acquisition of Petrohawk Energy Corporation
Note: Variance relates to the relative performance of BHP Billiton during the December 2011 half year compared with the December 2010 half year
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Robust performance in a challenging environment
Interim results, 8 February 2012
Slide 6
•Record production for two commodities and six operations
–WAIO annualised production rose to 178 mtpa (100% basis) in the December 2011 quarter
–Record half year production at New South Wales Energy Coal
•Broader challenges across the Group
–Industrial action and lower grades at Escondida
–Industrial action and remnant effects of wet weather at Queensland Coal
–Margin compression for nickel, aluminium and manganese alloy product groups
Western Australia Iron Ore
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Prioritising development of the liquids rich Eagle Ford shale
Interim results, 8 February 2012
Slide 7
•Completed the acquisition of Petrohawk Energy Corporation
•Successful combination of high quality Onshore US assets into the BHP Billiton portfolio
•Large 7.6 billion barrels of oil equivalent Onshore US resource enables us to plan for the very long term
•Increasing focus on the high return, liquids rich Eagle Ford shale and Permian Basin
•Targeting 20% liquids contribution by FY15
•Selectively developing the most productive areas in our dry gas fields
Onshore US
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Interim results Half year ended 31 December 2011
Graham Kerr Chief Financial Officer
Hotazel
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14.8 17.7
15.7
2.8
0.5
0.3 0.1
(0.4)
(0.5)
(1.9) 0.0
5.0
10.0
15.0
20.0
H1 FY11
Price¹ Exchange
Inflation
Sub-total
New operations
Volume Costs²
Other
H1 FY12
Underlying EBIT analysis Half year ended December 2011 versus December 2010 1. Includes negative impact of price linked costs. 2. Includes negative non-cash cost variance of US$317 million.
EBIT variance (US$ billion)
Uncontrollable
Controllable
Net US$(0.2) billion
Slide 9
Interim results, 8 February 2012
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Record iron ore production offset by temporary challenges in the broader business
Interim results, 8 February 2012
Slide 10 1,243
76
65
31
(133)
(168)
(234)
(493) (1,000)
(500)
0
500 1,000
1,500
2,000
Iron Ore Manganese
Energy Coal
Aluminium
SSM
D&SP
Metallurgical Coal
Petroleum
Base Metals Note: Volume variance calculated on Underlying EBIT using previous period margin.
Volume variance
(US$ million)
US$(484) million
(871)
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Short term production constraints led to significant cost pressure
Interim results, 8 February 2012
Slide 11
(455) (597)
(218)
(315)
(1,585)
(1,600)
(1,200)
(800)
(400) 0
400
Raw materials
Labour & contractors
Maintenance
Other
Total
Structural Non structural
Underlying EBIT cash cost variance1
(US$ million)
1. Excludes non-cash cost variance and the impact of inflation and foreign exchange.
83%
17%
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Centralised procurement and project hubs delivering benefits
•Centralised procurement of key input components mitigates our exposure to tight consumable and mining equipment markets
•Long term partnerships with suppliers ensure a preferential position and certainty of access
•Our six project hubs are fully operational, delivering career continuity to our personnel and underpinning our extensive growth program
•Transition to owner operator mines in the Pilbara delivers safety, scalability and margin benefits
Mar 06
Sep 07
May 10
Jul 11
Jan 12
Slide 12
Interim results, 8 February 2012
Average mining truck lead time
(months)
Source: BHP Billiton analysis.
Escondida
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(2)
0
2
4 6
8
10
12
14
16
A uniquely diversified portfolio
Interim results, 8 February 2012
Slide 13
Underlying EBIT margin1
(H1 FY12, %)
65%
35%
14%
33%
13%
(0%)
(3%)
59%
27%
Iron Ore
Metallurgical Coal
Manganese
Petroleum
Energy Coal
Base Metals D&SP
SSM
Aluminium
Underlying EBIT1
(H1 FY12, US$ billion)
Ferrous
60%
Non-ferrous
11%
Energy
29%
Energy Coal
Manganese
Petroleum
D&SP
Metallurgical Coal
Base Metals
Iron Ore
1.Excludes third party trading activities.
Aluminium SSM
BHP Billiton
44%
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US$27 billion of growth projects in execution
Interim results, 8 February 2012
Slide 14 Ferrous
Non-ferrous Energy
1.As at 8 February 2012. Full BHP Billiton project pipeline is included on slide 33. Placement of projects not indicative of project schedule.
2.BHP Billiton share. Includes announced pre-commitment funding for projects in execution, and pre-commitment funding for the Jansen potash project, the Olympic Dam Project and the WAIO Outer Harbour Development.
0
10
20
30
Committed
Spent to date
37%
Current commitment to growth projects in execution2
(US$ billion)
Worsley E&G
Caval Ridge
Kipper
NWS Nth Rankin B
WAIO Jimblebar
Samarco 4
HPX3
Daunia
WAIO Inner
Harbour
Macedon
Turrum
WAIO
Port and Rail
Laguna Seca
Escondida Ore Access
Antamina
Exp
EKATI
Misery
Broad- meadow
NTP Exp 3
Cerrejon P40
NWS GWF-A
NTP Exp 2
MAC RX1
GEMCO
Exp 2
Projects in execution1
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Disciplined and predictable approach to capital management
Interim results, 8 February 2012
Slide 15
0
10
20
30
40
0
10
20
30
40
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY11
H1 FY12
Net operating cash flow
Capital and exploration expenditure
Cash dividends
Capital management
Acquisitions
Gearing
Sources and uses of cash1
(US$ billion)
Gearing
(%)
1.Calculated on the basis of UK GAAP for periods prior to FY05. Cash flow reflects proportional consolidation of joint ventures for FY07 and future periods. Exploration expenditure incurred which has not been capitalised has been re-classified to net operating cash flow for FY06 and future periods.
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Interim results Half year ended 31 December 2011
Marius Kloppers Chief Executive Officer
Spence
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Structural drivers of demand remain intact
Slide 17
•Cautious on the short term economic outlook for the developed world and Europe in particular
•No simple solution for the structural imbalances and high levels of sovereign indebtedness in the OECD
•The longer term structural drivers of industrialisation and urbanisation in the developing world remain intact
•Commodities demand will evolve as emerging economies transition from construction to consumption based growth
•As a uniquely diversified resources company, BHP Billiton is well positioned for this transition
Chinese GDP growth by province
(% year on year, 2010)
? 10%
8-9%
< 8%
Source: EIU, BHP Billiton analysis.
Interim results, 8 February 2012
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Predictability = better planning
Interim results, 8 February 2012
Slide 18
•Unchanged and proven strategy focused on large, long life, low cost, expandable and upstream assets
•We prioritise investment in businesses that meet all of the criteria defined by our strategy
•Our strategy delivers
–Strong and stable margins
–Greater earnings certainty
–Lower cash flow at risk
–Facilitates better planning
•We have implemented measures to address industry wide challenges in the nickel, aluminium and manganese alloy product groups
•The pursuit of an even simpler organisation
Consensus 2012 EPS evolution
(index, rebased to January 2011)
Strong and stable EBIT margin1
(%)
0
20
40 60
80
FY02²
FY03
FY04
FY05
FY06
FY07
FY08
FY09² FY10
FY11
H1 FY12²
1.Calculated on the basis of UK GAAP for periods prior to FY05, except for the exclusion of PRRT from the Petroleum and BHP Billiton Group results for all periods. All periods exclude third party trading activities.
2.Negative margins are not shown as the y-axis is set at zero. SSM had a negative EBIT margin in FY02, FY09 and H1 FY12; Aluminium had a negative EBIT margin in H1 FY12.
70
80 90
100
110
120
Jan 11
Apr 11
Jul 11
Oct 11
Jan 12
Note: Peer group includes Rio Tinto, Xstrata and Anglo American.
Source: Citi Group Global Markets Limited. Peer group
BHP Billiton
BHP Billiton Customer Sector Groups
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Strong growth in our Western Australia Iron Ore business
Interim results, 8 February 2012
Slide 19
•WAIO annualised production rose to 178 mtpa (100% basis) in the December 2011 quarter
•Prior FY12 production guidance for WAIO of 159 mtpa (100% basis) increased by approximately 5%
•Well placed to achieve a production rate of +200 mtpa (100% basis) at WAIO by the end of CY14 without the need for additional major growth project approvals
BHP Billiton Underlying EBIT contribution
(H1 FY12)
Western Australia Iron Ore
Other
Targeted growth in WAIO production
(mtpa, 100% basis)
0
125
250
FY09
FY10 FY11
FY12e
FY15e
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Substantial low risk volume growth anticipated at key assets
Interim results, 8 February 2012
Slide 20
•A substantial increase in copper production at Escondida as operations progress towards higher grade ore in the main pit
•Queensland Coal positioned for strong production growth following the weather related challenges of the last twelve months
•Development drilling at non-operated Gulf of Mexico facilities to deliver an increase in high margin oil production following a recovery from the drilling moratorium
Escondida production1
(index annualised H1 FY12, BHP Billiton share) GoM non-operated assets production2 (index annualised H1 FY12, BHP Billiton share) 0
200
400
FY09
FY10
FY11
H1 FY12³
FY15e
Queensland Coal production
(index annualised H1 FY12, BHP Billiton share)
0
100
200
FY09 FY10
FY11 H1 FY12³ FY15e
Base operations
Debottlenecking
Future growth
0
100
200
FY09
FY10
FY11
H1 FY12³
FY15e
1.Includes volumes related to minor unapproved capital projects.
2.Includes volumes from development drilling.
3.H1 production annualised for FY12, indexed to 100.
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The options and capability to develop large scale, high quality projects Execution: Escondida Ore Access Laguna Seca Debottlenecking Feasibility: Escondida Organic Growth Project 1 Escondida Oxide Leach Area Project Escondida Copper
Feasibility:
Jansen Stage 1
Potash Port
Pre-feasibility:
Jansen Stages 2 & 3
Saskatchewan Potash
Execution:
Caval Ridge
Daunia
Hay Point Stage 3 Expansion
Broadmeadow Life Extension
Pre-feasibility:
BMC Wards Well
BMA Red Hill
Port and Rail Expansion
Queensland Coal
Execution:
WAIO Expansion to +220mtpa
Pre-feasibility:
Central Pilbara Mines
Port Hedland Outer Harbour
Western Australia Iron Ore
Feasibility:
Olympic Dam Project 1
Pre-feasibility:
Olympic Dam Project 2
Olympic Dam Copper/Uranium
Slide 21
Interim results, 8 February 2012
Note: All projects remain under review until such time as they are sanctioned for execution. Prioritising development of the liquids rich Eagle Ford shale and exploration in the Permian Basin together with further development of our high margin Gulf of Mexico assets Petroleum
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25 35 45
55
65
75
0
5,000
10,000
15,000
20,000
A large, low cost iron ore business with significant expansion potential
Global iron ore deposits1
(average Fe grade, %)
Western Australia Iron Ore Samarco Source: Annual Reports, press releases and BHP Billiton FY11 Annual Report. Refer to disclaimer on slide 3 as presented on 8 February 2012. 1. Based on a selection of iron ore peers that provides a fair representation of the industry. Excludes Vale.
Source: Macquarie Research, January 2012.
•WAIO US$779 million (BHP Billiton share) pre-commitment investment for an outer harbour development at Port Hedland
•Targeting Board approval in H2 CY12 with commissioning scheduled for CY16
•Longer term development has the potential to increase WAIO capacity to 450 mtpa (100% basis)
Iron ore cost curve – fines (US$ per tonne, CIF China equivalent basis)
Cumulative volume
(million tonnes)
Interim results, 8 February 2012
Slide 22
BHP Billiton
Western Australia Iron Ore
Resource
(million tonnes, equity share)
Note:
Bubble size represents estimated annual equity production from current operations and approved projects only.
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The leading metallurgical coal business
Source: Wood Mackenzie and BHP Billiton analysis.
Note: Based on internal production profile at weighted average Wood Mackenzie operating margin for BHP Billiton Metallurgical Coal assets. Metallurgical coal prices used (real): US$200/t (HCC), US$150/t (WCC), US$90/t (Thermal). Exchange rates relative to the US$: A$ 1.20, C$ 1.04, CNY 5.2, BWP 7.2, R 8, NZ$ 1.65, RBL 27.5, VND 24,000.
2. BHP Billiton share. Includes announced pre-commitment funding for projects in execution.
•Leading resource position, premier products and industry leading margins
•Projects in execution total US$4.9 billion2
•Numerous longer term development options
•Preferred developer status for 60 mtpa export terminal at Abbot Point
0 2,000 4,000
6,000
8,000
Global metallurgical coal deposits1
(by basin)
New South Wales
Bowen Basin
Canada
Mongolia
Mozambique
Russia
Europe Queensland Coal Illawarra Coal Source: Annual Reports, press releases and BHP Billiton FY11 Annual Report. Refer to disclaimer on slide 3 as presented on 8 February 2012. 1. Based on a selection of metallurgical coal peers that provides a fair representation of the industry.
Seaborne metallurgical coal producer operating margin (2016, US$ per tonne FOB) Interim results, 8 February 2012 Slide 23
BHP Billiton
Metallurgical Coal
Resource
(million tonnes, equity share)
Note:
Bubble size represents estimated annual equity production from current operations and approved projects only.
Cumulative volume
(million tonnes)
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Large and expandable Base Metals assets
Interim results, 8 February 2012
Slide 24
•Escondida Organic Growth Project 1 will set the framework for multiple phases of expansion
–Targeting Board approval in H1 CY12 with commissioning scheduled for CY15
•Olympic Dam is a unique resource, an open pit will exploit superior grades for decades to come
–Targeting Board approval for phase one in CY12
0.00 0.20 0.40
0.60
0.80
1.00
0
4,000
8,000
12,000
Global copper deposits1
(Cu grade excluding by-products1, %)
Source: Brook Hunt Q4 2011, 2011 C1 cash cost (normal costing). 3.00 Escondida Olympic Dam Spence
Cerro Colorado Antamina
Source: Annual Reports, press releases, BHP Billiton FY11 Annual Report and BHP Billiton Exploration and Development Report for the quarter ended 31 December 2011. Refer to disclaimer on slide 3 as presented on 8 February 2012.
1. Based on a selection of copper peers that provides a fair representation of the industry. Grades not inclusive of by-product credits which can be significant, particularly in the case of poly-metallic resources such as Olympic Dam.
C1 cash cost
(US cents per pound Cu)
Escondida
Antamina
Spence
Olympic Dam OD, a low cost producer in its expanded state Note: Bubble size represents estimated annual equity production from current operations and approved projects only.
Cerro Colorado Resource (million tonnes, equity share)
Cumulative volume
(million tonnes)
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Developing a world class presence in potash
•Three billion tonne resource delineated at Jansen1
•US$1.2 billion committed to date with ground freezing and shaft sinking programs underway
•Targeting Board approval for the first phase in CY12
•Planned capacity of 8 mtpa with longer term potential to expand potash production to 16 mtpa
Interim results, 8 February 2012
Slide 25
BHP Billiton Jansen
Export cost curve
(2020, US$ per tonne FOB) Source: CRU and BHP Billiton analysis. 1. BHP Billiton FY11 Annual Report. Refer to disclaimer on slide 3 as presented on 8 February 2012. Jansen Cumulative volume (million tonnes)
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Consistent execution of a well defined strategy
Interim results, 8 February 2012 Slide 26
•Strong and predictable financial results
•We have taken action to address industry wide challenges in the nickel, aluminium and manganese alloy product groups
•Substantial, low risk volume growth is anticipated at key assets in the short to medium term
•We will live within our means as we look to exercise our world class portfolio of growth options
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| phpbillition |
| resourcing |
the future |
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| Appendix |
| bhpbillition |
| resourcing |
the future |
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Impact of major commodity price movements Half year ended December 2011 versus December 2010 Interim results, 8 February 2012
Slide 29
1,322 927 927 391
160
50
(106) (223) (673)
(700)
(350) 0
350
700
1,050
1,400
Petroleum Metallurgical Coal Iron Ore Energy Coal
D&SP
Aluminium
SSM Manganese Base Metals
1. Includes negative impact of price linked costs.
Total price variance1
(US$ million)
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Rate of cost change Operating cost movement relative to preceding year1 (%) 4.3
5.3
9.0
0.0 4.9 10.5 4.2 5.0
9.8
(0.8)
4.8
10.1
(3.0)
0.0
3.0 6.0 9.0
12.0
FY07
FY08 FY09 FY10 FY11 H1 FY12²
Total
Excluding non-cash
1.Excludes the impact of inflation, foreign exchange, price linked costs and third party trading.
2.Variance relates to the December 2011 half year compared with the December 2010 half year.
Slide 30
Interim results, 8 February 2012
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Summary of key FX components in tax expense/(income)
Interim results, 8 February 2012
Slide 31
Restatement of December 2011 expense/(income)
US$ million December 2010 expense/(income)
US$ million
Current tax payable (123) 391
Deferred tax balances on fixed assets 82 (1,750)
Deferred tax balances on US$ debt 151 316
Deferred tax balances on timing differences (2) (82)
Other items (38) (2)
Total 70 (1,127)
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Capital and exploration expenditure Interim results, 8 February 2012
Slide 32
US$ billion FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12F
Growth 1.9 2.0 1.7 2.6 4.0 5.5 6.1 7.3 8.1 9.4
Sustaining and Other 0.8 0.7 0.9 1.3 2.1 1.6 1.8 2.0 1.7 2.2
Exploration 0.4 0.3 0.5 0.5 0.8 0.8 1.4 1.3 1.3 1.2
Total 3.1 3.0 3.1 4.4 6.9 7.9 9.3 10.6 11.1 12.8 20.0
0
| 5 |
10 15
20
FY02 FY03 FY04 FY05 FY06
FY07
FY08
FY09
FY10 FY11
FY12F
Exploration
Sustaining capex
Growth expenditure (US$ billion)
Note: Calculated on the basis of UKGAAP for periods prior to FY05. Excludes acquisitions.
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Browse
Olympic Dam
Project 2
Escondida OGP 1
Potash
Burr
Olympic Dam
Project 3
Appin Area 9
Queensland Rail and Port Expansion
WAIO Mainline Rail
Caroona
An unparalleled portfolio of growth options Interim results, 8 February 2012 Slide 33 Ferrous
Non-ferrous Energy
As at 8 February 2012
Proposed capital expenditure (BHP Billiton share)
?US$500m
US$501m-US$5bn
US$5bn+
Worsley E&G
WAIO
Outer
Harbour
Olympic Dam Project 1
Caval Ridge
Kipper
Potash
Jansen Stage 1
NWS Nth Rankin B
WAIO Jimblebar
Samarco 4
HPX3
Daunia
Gabon
WAIO Inner
Harbour
Cerro Matoso
Heap Leach 1
Macedon
Turrum
WAIO
Port and Rail
Laguna Seca
Escondida Ore Access
Antamina
Exp
EKATI
Misery
Broad- meadow
Boodarie Stockyards
Potash
Jansen
Stage 3
Potash
Young
Scarborough
Nimba
Wards Well
Potash
Boulder
Potash
Melville
West Africa Exploration
Caval Ridge
Expansion
Yeelirrie
MAC 32
Mad Dog
Phase 2
MAC Underground
Blackwater Expansion
Peak Downs
Expansion
Illawarra Coal
Expansion
Oxide
Leach
Cerrejon P500
IndoMet Coal Expansion
Central Pilbara Mines
NTP Exp 3
Bioleach
Pad Ext IV
Thebe
IndoMet Coal
Knotty
Head
Saraji
East
P otash Jansen Stage 2
Cerrejon P40
Atlantis
N2B
NWS GWF-A
NTP Exp 2
MAC RX1
Resolution
Saraji
Expansion
Placement of projects not indicative of project schedule.
Potash
Other
Escondida OGP 2
Spence
Hypogene
Red Hill
Potash Port
GEMCO
Exp 2
Van Dyks Drift Central
Guinea
Alumina
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Maturity profile analysis
Interim results, 8 February 2012
Slide 34
Debt repayments1
(US$ million)
0
2,000
4,000
6,000
FY12
FY13
FY14
FY15
FY16
FY17
FY18
FY19
Post FY20 1. Based on debt balances as at 31 December 2011.
2.The US$4.0 billion revolving credit facility maturing in December 2015 acts as a backstop for the commercial paper program.
3.Jointly Controlled Entity debt represents BHP Billiton share subject to governing contractual arrangements.
4.Subsidiary debt represents BHP Billiton share of subsidiary debt based on BHP Billiton effective interest.
% of portfolio
0%
12%
61%
17%
Bank Debt
CP Issuance2
US$ Bonds
Euro Bonds
Bank Supported 12%
Capital Markets 78%
8%
2%
Jointly Controlled Entities3
Subsidiaries4 Asset Financing 10%
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Key net profit sensitivities
Interim results, 8 February 2012
Slide 35
Approximate impact1 on FY12 net profit after tax of changes of US$ million
US$1/t on iron ore price 95
US$1/bbl on oil price 40
US$1/t on energy coal price 25
US$1/t on metallurgical coal price 20
US¢1/lb on aluminium price 20
US¢1/lb on copper price 20
US¢1/lb on nickel price 2
AUD (US¢1/A$) operations2 100
RAND (0.2 Rand/US$) operations2 35
1. Assumes total volumes exposed to price.
2. Impact based on average exchange rate for the period.
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| phpbillition |
| resourcing |
the future |
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: February 8, 2012 | By: | /s/ Jane McAloon | ||||
| Name: | Jane McAloon | |||||
| Title: | Group Company Secretary | |||||