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 22, 2015

 

 

 

BHP BILLITON LIMITED    BHP BILLITON PLC
(ABN 49 004 028 077)    (REG. NO. 3196209)
(Exact name of Registrant as specified in its charter)    (Exact name of Registrant as specified in its charter)

 

VICTORIA, AUSTRALIA    ENGLAND AND WALES
(Jurisdiction of incorporation or organisation)    (Jurisdiction of incorporation or organisation)

171 COLLINS 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

 

 

 


NEWS RELEASE LOGO

 

Release Time         IMMEDIATE
Date 22 April 2015
Number 07/15

BHP BILLITON OPERATIONAL REVIEW

FOR THE NINE MONTHS ENDED 31 MARCH 2015

 

  Group production increased by 9% for the nine months ended March 2015 with records achieved for 10 operations and five commodities. We remain on track to deliver Group production growth(1) of 16% over the two years to the end of the 2015 financial year.

 

  Petroleum production increased by 6% to a record 193 MMboe supported by a 76% increase in Onshore US liquids volumes to 40.2 MMboe. Guidance for the 2015 financial year remains unchanged at 255 MMboe.

 

  Copper production(2) increased by 2% to 1.3 Mt as strong underlying operating performance at Escondida more than offset the impacts of severe weather in Northern Chile, lower grades at Antamina and a mill outage at Olympic Dam. Production for the 2015 financial year is now expected to be 1.7 Mt.

 

  Western Australia Iron Ore (WAIO) production increased by 16% to a record 188 Mt (100% basis) underpinned by continued improvements in our integrated supply chain. WAIO production for the 2015 financial year is now expected to be 250 Mt (100% basis). The potential of our installed infrastructure continues to exceed expectations and as a result we are deferring the Inner Harbour Debottlenecking project. While this will lead to a slower path to system capacity of 290 Mtpa, it will come at a lower capital cost.

 

  Metallurgical coal production increased by 14% to 38 Mt and reflected record volumes at both Queensland Coal and Illawarra Coal. Production for the 2015 financial year is now expected to be 49 Mt.

BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “Our teams continue to exceed expectations and deliver strong operating performance. Our commitment to sustainably improve productivity and lower costs is helping mitigate the impact of subdued commodity prices and supporting returns for our shareholders.

“In Iron Ore, our focus remains on producing at the lowest possible cost with Western Australia Iron Ore unit costs now below US$20 per tonne(3) as we continue to improve productivity. Over the last decade, China’s unprecedented demand growth provided Australia and BHP Billiton with a unique opportunity. We acted swiftly to bring on new iron ore capacity at some of the lowest costs globally, generating long-term value for shareholders, the government and communities which would otherwise have been lost to overseas competitors. Despite the subsequent increase in supply-side competition, these low-cost expansions continue to deliver attractive margins and returns through the cycle.

“In Petroleum, we have responded quickly to current market conditions by reducing the number of rigs operated in our Onshore US business by 35 per cent over the March 2015 quarter. We continue to review our drilling and development program as we seek to maximise the value of our resource base. With higher oil prices expected over the medium term, we believe deferring development will create more value than producing today. Our high-quality acreage and excellent operating performance, with industry-leading drilling costs, gives us a strong platform from which to build.

“The proposed demerger of South32 is also on track, with the BHP Billiton Board unanimously recommending shareholders vote in favour of the demerger. With a more focused portfolio, BHP Billiton will have the potential to unlock further shareholder value, while creating a new global diversified metals and mining company with a significant industry presence in each of its major commodities.”

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 1


Operational performance summary

Production for the nine months and quarter ended March 2015 is summarised in the table below.

 

Production

   MAR
2015
YTD
     MAR
2015
QTR
     MAR YTD15
vs

MAR YTD14
    MAR Q15
vs

MAR Q14
    MAR Q15
vs

DEC Q14
 

Total petroleum production (MMboe)

     192.5         61.5         6     1     (3 %) 
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Copper (kt)

  1,273.1      460.0      1   11   9

Iron ore (kt)

  172,422      58,979      17   20   5

Metallurgical coal (kt)

  37,765      11,458      14   0   (15 %) 

Energy coal (kt)

  56,173      19,714      2   11   6

Alumina (kt)

  3,881      1,248      1   0   (11 %) 

Aluminium (kt)

  762      245      (15 %)    (14 %)    (4 %) 

Manganese ores (kt)

  6,604      2,049      9   14   (11 %) 

Manganese alloys (kt)

  554      182      19   12   (10 %) 

Nickel (kt)

  102.4      32.5      (9 %)    (5 %)    (5 %) 

Production guidance for the 2015 financial year is summarised in the table below.

 

Production guidance

   FY14      Previous
FY15e
     New
FY15e
     FY14 vs
FY15e
 

Petroleum (MMboe)(4)

     243         255         255         5

Copper (Mt)(2)

     1.7         1.8         1.7         —     

Iron ore (Mt)

     204         225         230         13

Metallurgical coal (Mt)

     45         47         49         9

Energy coal (Mt)

     73         73         73         —     

Major development projects

The BMA Hay Point Stage Three Expansion project loaded first coal during the March 2015 quarter, on revised schedule and budget, and will not be reported in future Operational Reviews. At 31 March 2015, BHP Billiton had six major projects under development with a combined budget of US$12.0 billion.

Corporate update

On 17 March 2015, the BHP Billiton Board recommended shareholders approve the proposed demerger of South32 at the shareholder meetings to be held on 6 May 2015. The Board believes that with a more focused portfolio, BHP Billiton will be better placed to achieve further productivity benefits in its core portfolio, while creating a substantial new company, South32. The proposed demerger would be effected via a distribution of South32 shares by way of an in-specie dividend to shareholders in both BHP Billiton Limited and BHP Billiton Plc. Eligible BHP Billiton shareholders will receive one South32 share for every BHP Billiton share held on the applicable record date.

On 19 March 2015, the Group priced a five year A$1.0 billion note issue under its Australian Medium Term Note Program which will pay interest at three per cent and mature in March 2020. The proceeds will be used for general corporate purposes.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    2


Petroleum and Potash

Production

 

     MAR
2015
YTD
     MAR
2015
QTR
     MAR YTD15
vs
MAR YTD14
    MAR Q15
vs

MAR Q14
    MAR Q15
vs

DEC Q14
 

Crude oil, condensate and natural gas liquids (MMboe)

     93.4         31.3         21     15     0

Natural gas (bcf)

     594.8         181.5         (5 %)      (10 %)      (7 %) 
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Total petroleum products (MMboe)

  192.5      61.5      6   1   (3 %) 
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Total petroleum production – Total petroleum production for the nine months ended March 2015 increased by six per cent to a record 192.5 MMboe. Guidance for the 2015 financial year remains unchanged at 255 MMboe.

Crude oil, condensate and natural gas liquids – Crude oil, condensate and natural gas liquids production for the nine months ended March 2015 increased by 21 per cent to 93.4 MMboe.

Onshore US liquids volumes for the nine months ended March 2015 rose by 76 per cent to 40.2 MMboe. This strong performance was underpinned by a doubling of liquids production from both the Black Hawk and Permian as we continue to realise significant improvements in shale drilling and completions efficiency.

In our Conventional business, strong uptime performance at Atlantis and Pyrenees was offset by natural field decline at North West Shelf and the impact of industrial action at Bass Strait.

Natural gas – Natural gas production for the nine months ended March 2015 declined by five per cent to 595 bcf.

Strong uptime performance at North West Shelf and Macedon partially offset scheduled maintenance at Pakistan, industrial action and weaker seasonal demand at Bass Strait and the divestment of Liverpool Bay in the 2014 financial year.

On 16 February 2015, BHP Billiton signed an agreement with Tri-Resources, a subsidiary of the Hashoo Group, for the sale of our gas business in Pakistan. The transaction is subject to regulatory approval.

Projects

 

Project and ownership

   Capital
expenditure
(US$m)
     Initial
production
target date
    

Capacity

  

Progress

North West Shelf

Greater Western

Flank-A

(Australia)

16.67% (non-operator)

     400         CY16       To maintain LNG plant throughput from the North West Shelf operations.    On schedule and budget. The overall project is 89% complete.

Bass Strait Longford

Gas Conditioning

Plant

(Australia)

50% (non-operator)

     520         CY16       Designed to process approximately 400 MMcf/d of high-CO2 gas.    On schedule and budget. The overall project is 54% complete.

Onshore US development activity

Onshore US drilling and development expenditure totalled US$3.0 billion for the nine months ended March 2015 and we expect expenditure of approximately US$3.4 billion in the 2015 financial year.

Our Onshore US operated rig count decreased from 26 to 17 during the March 2015 quarter. The reduction in drilling activity will not impact 2015 financial year production guidance and we are confident that shale liquids volumes will rise by over 50 per cent in the period. We continue to review our drilling and development program and will exercise the flexibility within our shale portfolio to maximise value.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    3


March 2015 YTD         Liquids focused areas     Gas focused areas        

(March 2014 YTD)

        Eagle Ford     Permian     Haynesville     Fayetteville     Total  

Capital expenditure

   US$ billion      1.9 (2.4     0.6 (0.4     0.3 (0.3     0.2 (0.2     3.0 (3.2

Rig allocation

   At period end      12 (17     4 (4     1 (3     0 (0     17 (24

Net wells drilled and completed

   Period total      153 (218     32 (32     18 (31     36 (60     239 (341

Net productive wells

   At period end      796 (606     63(5) (61     388(5) (892     1,028 (1,012     2,275 (2,571

Capital expenditure includes land acquisition, site preparation, drilling, completions, well site facilities, mid-stream infrastructure and pipelines. The number of wells drilled and completed can vary significantly from period to period based on changes in rig activity and the inventory of wells drilled but not yet completed at period end.

Petroleum exploration

There were no exploration or appraisal wells drilled during the March 2015 quarter. Petroleum exploration expenditure for the nine months ended March 2015 was US$393 million, of which US$363 million was expensed. Total petroleum exploration expenditure for the 2015 financial year is expected to be US$600 million and remains focused on the Gulf of Mexico, Western Australia and Trinidad and Tobago.

The seismic acquisition program in Trinidad and Tobago was successfully completed for the nine deep water blocks accessed between 2012 and 2014(6).

Potash

 

Project and ownership

   Investment
(US$m)
    

Scope

  

Progress

Jansen Potash

(Canada)

100%

     2,600       Investment to finish the excavation and lining of the production and service shafts, and to continue the installation of essential surface infrastructure and utilities.    The project is 42% complete and within the approved budget. Shaft excavation is steadily progressing following the successful redesign of the temporary liner.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    4


Copper

Production

 

     MAR
2015
YTD
     MAR
2015
QTR
     MAR YTD15
vs
MAR YTD14
    MAR Q15
vs

MAR Q14
    MAR Q15
vs

DEC Q14
 

Copper (kt)

     1,273.1         460.0         1     11     9

Lead (t)

     140,289         40,604         (1 %)      (15 %)      (19 %) 

Zinc (t)

     103,933         29,960         29     54     (10 %) 

Silver (troy koz)

     24,217         7,529         (8 %)      (14 %)      (1 %) 

Uranium oxide concentrate (t)

     2,549         607         (13 %)      (37 %)      (44 %) 

Copper – Total copper production(2) for the nine months ended March 2015 increased by two per cent to 1.3 Mt. Production for the 2015 financial year is now expected to be 1.7 Mt, six per cent below prior guidance. The revision to guidance reflects the impact of heavy rainfall in Northern Chile in March 2015 and an electrical failure which caused a mill outage at Olympic Dam in January 2015.

Escondida copper production for the nine months ended March 2015 increased by seven per cent to 891 kt. Strong operating performance, including a 14 per cent increase in truck utilisation, resulted in record material mined for the period. This was partially offset by the impact of severe wet weather in March 2015, along with water restrictions, two days of industrial action and a power outage throughout Northern Chile in the first half of the 2015 financial year. Escondida copper production of approximately 1.22 Mt is now anticipated for the 2015 financial year.

Pampa Norte copper production for the nine months ended March 2015 increased by 15 per cent to 192 kt as Spence benefited from higher recoveries. Production at Pampa Norte for the 2015 financial year is now expected to be marginally higher than the prior year, despite the impact of severe wet weather in March 2015, as improved grades and recoveries at Spence continue to offset declining grades and recoveries at Cerro Colorado.

Olympic Dam copper production for the nine months ended March 2015 decreased by 15 per cent to 111 kt following an electrical failure which caused a mill outage in January 2015. The mill is expected to be offline for approximately six months with an associated reduction in copper production of 60 to 70 kt with the majority of the impact anticipated this financial year.

Antamina copper production for the nine months ended March 2015 decreased by 32 per cent to 80 kt as lower grades more than offset record mill throughput. Average copper grades at Antamina are expected to remain broadly unchanged in the June 2015 quarter, consistent with the mine plan.

Lead – Lead production for the nine months ended March 2015 was in line with the prior period.

Silver – Silver production for the nine months ended March 2015 decreased by eight per cent as higher mill throughput at Antamina and Cannington was more than offset by lower ore grades at both operations, consistent with the mine plans.

Zinc – Zinc production for the nine months ended March 2015 increased by 29 per cent and primarily reflected increased mill throughput and higher grades at Antamina and Cannington.

Uranium – Uranium production for the nine months ended March 2015 decreased by 13 per cent as a result of the mill outage at Olympic Dam.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    5


Projects

 

Project and ownership

   Capital
expenditure
(US$m)
     Initial
production
target date
    

Capacity

  

Progress

Escondida Organic

Growth Project 1

(Chile)

57.5%

     4,199         H1 CY15       New concentrator with 152 ktpd capacity.    On schedule and revised budget. The overall project is 98% complete.

Escondida Water

Supply

(Chile)

57.5%

     3,430         CY17       New desalination facility to ensure continued water supply to Escondida.    On schedule and budget. The overall project is 37% complete.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    6


Iron Ore

Production

 

     MAR
2015
YTD
     MAR
2015
QTR
     MAR YTD15
vs

MAR YTD14
    MAR Q15
vs

MAR Q14
    MAR Q15
vs

DEC Q14
 

Iron ore (kt)

     172,422         58,979         17     20     5

Iron ore – Total iron ore production for the nine months ended March 2015 increased by 17 per cent to a record 172 Mt. Production for the 2015 financial year is now expected to be 230 Mt, two per cent higher than prior guidance.

Western Australia Iron Ore (WAIO) production for the nine months ended March 2015 increased by 16 per cent to a record 188 Mt (100 per cent basis). This result was underpinned by continued improvement in the performance of our integrated supply chain, the successful ramp-up of the Jimblebar mining hub to a rate in excess of 45 Mtpa, and the relatively limited impact of the wet season. WAIO also achieved record sales volumes of 190 Mt (100 per cent basis) as our strategy of increasing the percentage of direct to ship ore unlocked port capacity.

WAIO production for the 2015 financial year is now expected to be 250 Mt (100 per cent basis), two per cent higher than prior guidance. Further growth in supply chain capacity to 270 Mtpa (100 per cent basis) is expected to be achieved without the need for additional fixed plant investment. The potential of our installed infrastructure continues to exceed expectations and as a result we are deferring the Inner Harbour Debottlenecking project. While this will lead to a slower path to system capacity of 290 Mtpa, it will come at a lower capital cost.

Samarco production for the nine months ended March 2015 increased by 37 per cent to a record 22 Mt (100 per cent basis) as the fourth pellet plant reached full capacity during the period.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    7


Coal

Production

 

     MAR
2015
YTD
     MAR
2015
QTR
     MAR YTD15
vs

MAR YTD14
    MAR Q15
vs

MAR Q14
    MAR Q15
vs

DEC Q14
 

Metallurgical coal (kt)

     37,765         11,458         14     0     (15 %) 

Energy coal (kt)

     56,173         19,714         2     11     6

Metallurgical coal – Metallurgical coal production for the nine months ended March 2015 increased by 14 per cent to a record 38 Mt. Production for the 2015 financial year is now expected to be 49 Mt, four per cent higher than prior guidance.

Record production and sales volumes at Queensland Coal for the nine months ended March 2015, reflected the successful ramp-up of the Caval Ridge mine and sustained improvements in truck and wash-plant utilisation across the operations. Production declined by 13 per cent from the December 2014 quarter as a result of a longwall move at Crinum and wet weather.

Illawarra Coal achieved record production for the nine months ended March 2015 of 6.5 Mt as maintenance efficiencies supported higher equipment utilisation rates. Longwall moves at Dendrobium and West Cliff led to a 25 per cent decline in volumes during the March 2015 quarter.

Energy coal – Energy coal production for the nine months ended March 2015 increased by two per cent to 56 Mt. Guidance for the 2015 financial year remains unchanged at 73 Mt.

South Africa Energy Coal production for the nine months ended March 2015 increased by 15 per cent and reflected improved equipment utilisation and optimised mine planning. This was partially offset by lower production at Cerrejón as a result of drought conditions and the need to manage dust emissions, and lower customer demand for our Navajo Coal product.

Projects

 

Project and ownership

   Capital
expenditure
(US$m)
    Initial
production
target date
    

Capacity

  

Progress

Hay Point Stage

Three Expansion

(Australia)

50%

     1,505 (7)      CY15       Increases port capacity from 44 Mtpa to 55 Mtpa and reduces storm vulnerability.    On revised schedule and budget. The overall project is 96% complete. First coal loaded on 12 January 2015.

Appin Area 9

(Australia)

100%

     845        CY16       Maintains Illawarra Coal’s production capacity with a replacement mining domain and capacity to produce 3.5 Mtpa of metallurgical coal.    On schedule and budget. The overall project is 81% complete.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    8


Aluminium, Manganese and Nickel

Production

 

     MAR
2015
YTD
     MAR
2015
QTR
     MAR YTD15
vs

MAR YTD14
    MAR Q15
vs

MAR Q14
    MAR Q15
vs

DEC Q14
 

Alumina (kt)

     3,881         1,248         1     0     (11 %) 

Aluminium (kt)

     762         245         (15 %)      (14 %)      (4 %) 

Manganese ores (kt)

     6,604         2,049         9     14     (11 %) 

Manganese alloys (kt)

     554         182         19     12     (10 %) 

Nickel (kt)

     102.4         32.5         (9 %)      (5 %)      (5 %) 

Alumina – Alumina production was broadly unchanged for the nine months ended March 2015 at 3.9 Mt and included record production at the Alumar refinery. Worsley volumes decreased by 12 per cent from the December 2014 quarter, which benefitted from the processing of stockpiled hydrate.

Aluminium – Aluminium production for the nine months ended March 2015 decreased by 15 per cent to 762 kt despite record production at Mozal. Lower volumes primarily reflected the cessation of smelting activities at Bayside and the temporary suspension of potlines II and III at Alumar in the 2014 financial year, and the planned replacement of transformers at Hillside. Production at Hillside and Mozal remains robust despite the increased frequency of load shedding.

On 30 March 2015, BHP Billiton announced that South32 had agreed with Alcoa, its joint venture partner and operator of the Alumar aluminium smelter, to suspend potline I from 15 April 2015. All three potlines will continue to be subject to ongoing review, having regard to market conditions.

Manganese ores – Manganese ore production for the nine months ended March 2015 increased by nine per cent to 6.6 Mt as an increase in plant availability at Wessels and an improvement in ore recovery at Mamatwan underpinned record production at Hotazel. Higher mill throughput and grades at GEMCO partially offset adverse weather conditions in the March 2015 quarter.

Manganese alloys – Manganese alloy production for the nine months ended March 2015 increased by 19 per cent to 554 kt as Metalloys and TEMCO benefitted from improved smelter stability and availability.

Nickel – Nickel production for the nine months ended March 2015 decreased by nine per cent to 102 kt. Lower Nickel West production reflected the closure of the Perseverance underground mine in November 2013 and an unplanned outage at the Kwinana refinery, while lower grades affected Cerro Matoso production. Production for the 2015 financial year at Nickel West is now expected to be 90 kt, while guidance at Cerro Matoso remains unchanged at 43kt.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    9


Minerals exploration

Minerals exploration expenditure for the nine months ended March 2015 was US$203 million, of which US$148 million was expensed. Greenfield minerals exploration is predominantly focused on advancing copper targets within Chile, Peru and the South-West United States.

 

 

Variance analysis relates to the relative performance of BHP Billiton and/or its operations during the nine months ended March 2015 compared with the nine months ended 2014, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a 100 per cent basis; production volumes, sales volumes and capital and exploration expenditure from equity accounted investments and other operations are reported on a proportionate consolidation basis. Production and sales volumes for our manganese operations are reported on a 100 per cent basis.

The following footnotes apply to this Operational Review:

 

(1)  Copper equivalent production based on FY13 average realised product prices.
(2) Excludes Pinto Valley which was sold during the 2014 financial year.
(3)  Unit cash cost excluding freight and royalties.
(4)  Excludes Liverpool Bay which was sold during the 2014 financial year.
(5)  Change in productive well count includes the reduction associated with the divestments of North Louisiana conventional assets (Haynesville) and Pecos unconventional gas assets (Permian).
(6)  21,220 square kilometres 3D seismic acquisition completed over Trinidad and Tobago Blocks 3, 5, 6, 7, 14, 23a, 23b, 28 and 29.
(7)  Excludes announced pre-commitment funding.

The following abbreviations may have been used throughout this report: barrels (bbl); billion cubic feet (bcf); cost and freight (CFR); cost, insurance and freight (CIF); dry metric tonne unit (dmtu); free on board (FOB); grams per tonne (g/t); kilograms per tonne (kg/t); kilometre (km); metre (m); million barrels of oil equivalent (MMboe); million cubic feet per day (MMcf/d); million tonnes (Mt); million tonnes per annum (Mtpa); ounces (oz); pounds (lb); thousand barrels of oil equivalent (Mboe); thousand ounces (koz); thousand standard cubic feet (Mscf); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 10


Further information on BHP Billiton can be found at: www.bhpbilliton.com.

 

Media Relations

 

Australia

 

Emily Perry

Tel: +61 3 9609 2800 Mobile: +61 477 325 803

email: Emily.Perry@bhpbilliton.com

 

Paul Hitchins

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email: Paul.Hitchins@bhpbilliton.com

 

Eleanor Nichols

Tel: +61 3 9609 2360 Mobile: +61 407 064 748

email: Eleanor.Nichols@bhpbilliton.com

 

United Kingdom

 

Ruban Yogarajah

Tel: +44 20 7802 4033 Mobile: +44 7827 082 022

email: Ruban.Yogarajah@bhpbilliton.com

 

Jennifer White

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email: Jennifer.White@bhpbilliton.com

 

Americas

 

Ruban Yogarajah

Tel: +44 20 7802 4033 Mobile: +44 7827 082 022

email: Ruban.Yogarajah@bhpbilliton.com

Investor Relations

 

Australia

 

Tara Dines

Tel: +61 3 9609 2222 Mobile: +61 499 249 005

email: Tara.Dines@bhpbilliton.com

 

Andrew Gunn

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email: Andrew.Gunn@bhpbilliton.com

 

United Kingdom and South Africa

 

Jonathan Price

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email: Jonathan.H.Price@bhpbilliton.com

 

Dean Simon

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email: Dean.Simon@bhpbilliton.com

 

Americas

 

James Agar

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email: James.Agar@bhpbilliton.com

 

Joseph Suarez

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email: Joseph.Suarez@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: Level 16, 171 Collins Street Registered Office: Neathouse Place
Melbourne Victoria 3000 Australia London SW1V 1LH 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

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 11


BHP BILLITON PRODUCTION SUMMARY

 

          QUARTER ENDED      YEAR TO DATE      % CHANGE  
          MAR
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
     MAR YTD15
vs
MAR YTD14
    MAR Q15
vs
MAR Q14
    MAR Q15
vs
DEC Q14
 

Petroleum

                        

Crude oil, condensate and NGL

   (Mboe)      27,244         31,163         31,298         93,406         77,270         21     15     0

Natural gas

   (bcf)      202.0         194.4         181.5         594.8         624.3         (5 %)      (10 %)      (7 %) 

Total petroleum production

   (MMboe)      60.9         63.6         61.5         192.5         181.3         6     1     (3 %) 

Copper

                        

Copper

   (kt)      413.9         423.7         460.0         1,273.1         1,257.1         1     11     9

Lead

   (t)      47,577         50,111         40,604         140,289         141,861         (1 %)      (15 %)      (19 %) 

Zinc

   (t)      19,409         33,310         29,960         103,933         80,819         29     54     (10 %) 

Gold

   (troy oz)      48,740         51,247         47,706         151,297         134,583         12     (2 %)      (7 %) 

Silver

   (troy koz)      8,757         7,620         7,529         24,217         26,295         (8 %)      (14 %)      (1 %) 

Uranium

   (t)      966         1,076         607         2,549         2,944         (13 %)      (37 %)      (44 %) 

Molybdenum

   (t)      281         75         151         266         1,118         (76 %)      (46 %)      101

Iron ore

                        

Iron ore

   (kt)      49,280         56,352         58,979         172,422         146,921         17     20     5

Coal

                        

Metallurgical coal

   (kt)      11,467         13,538         11,458         37,765         33,192         14     (0 %)      (15 %) 

Energy coal

   (kt)      17,723         18,622         19,714         56,173         55,129         2     11     6

Aluminium, Manganese and Nickel

                        

Alumina

   (kt)      1,250         1,398         1,248         3,881         3,853         1     (0 %)      (11 %) 

Aluminium

   (kt)      286         256         245         762         898         (15 %)      (14 %)      (4 %) 

Manganese ores

   (kt)      1,801         2,296         2,049         6,604         6,047         9     14     (11 %) 

Manganese alloys

   (kt)      162         201         182         554         465         19     12     (10 %) 

Nickel

   (kt)      34.1         34.2         32.5         102.4         112.3         (9 %)      (5 %)      (5 %) 

Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    12


BHP BILLITON PRODUCTION

 

           QUARTER ENDED      YEAR TO DATE  
     BHP Billiton
interest
    MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Petroleum

                      

Production

                      

Crude oil, condensate and NGL (Mboe) (1)

                      

Onshore US

       8,575         10,540         11,460         12,905         15,848         40,213         22,808   

Coventional

       18,669         18,337         19,485         18,258         15,450         53,193         54,462   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  27,244      28,877      30,945      31,163      31,298      93,406      77,270   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Natural gas (bcf)

Onshore US

  109.7      118.9      113.6      110.3      99.9      323.8      329.9   

Coventional

  92.3      96.1      105.3      84.1      81.6      271.0      294.4   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  202.0      215.0      218.9      194.4      181.5      594.8      624.3   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
    
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total petroleum production (MMboe)

  60.9      64.7      67.4      63.6      61.5      192.5      181.3   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Copper (2)

Copper

Payable metal in concentrate (kt)

Escondida (3)

  57.5   190.6      241.0      199.4      208.8      260.9      669.1      603.7   

Antamina

  33.8   33.0      26.2      25.7      27.3      26.7      79.7      117.3   

Pinto Valley

  100   —        —        —        —        —        —        12.5   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  223.6      267.2      225.1      236.1      287.6      748.8      733.5   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Cathode (kt)

Escondida (3)

  57.5   75.8      81.5      69.3      75.0      77.3      221.6      226.5   

Pampa Norte (4)

  100   63.4      66.8      55.8      69.6      66.5      191.9      166.3   

Pinto Valley

  100   —        —        —        —        —        —        0.9   

Olympic Dam

  100   51.1      54.5      39.2      43.0      28.6      110.8      129.9   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  190.3      202.8      164.3      187.6      172.4      524.3      523.6   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total copper

  413.9      470.0      389.4      423.7      460.0      1,273.1      1,257.1   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Lead

Payable metal in concentrate (t)

Cannington

  100   47,214      45,768      48,941      49,625      40,111      138,677      140,760   

Antamina

  33.8   363      397      633      486      493      1,612      1,101   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  47,577      46,165      49,574      50,111      40,604      140,289      141,861   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Zinc

Payable metal in concentrate (t)

Cannington

  100   10,074      15,666      19,927      17,039      16,389      53,355      42,230   

Antamina

  33.8   9,335      13,450      20,736      16,271      13,571      50,578      38,589   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  19,409      29,116      40,663      33,310      29,960      103,933      80,819   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Gold

Payable metal in concentrate (troy oz)

Escondida (3)

  57.5   20,110      20,920      21,980      12,710      21,265      55,955      51,984   

Olympic Dam (refined gold)

  100   28,630      38,785      30,364      38,537      26,441      95,342      82,550   

Pinto Valley

  100   —        —        —        —        —        —        49   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  48,740      59,705      52,344      51,247      47,706      151,297      134,583   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Silver

Payable metal in concentrate (troy koz)

Escondida (3)

  57.5   1,078      1,320      1,159      958      1,355      3,472      2,951   

Antamina

  33.8   961      843      954      885      872      2,711      3,516   

Cannington

  100   6,465      6,029      6,701      5,534      5,130      17,365      19,132   

Olympic Dam (refined silver)

  100   253      317      254      243      172      669      655   

Pinto Valley

  100   —        —        —        —        —        —        41   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  8,757      8,509      9,068      7,620      7,529      24,217      26,295   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Uranium

Payable metal in concentrate (t)

Olympic Dam

  100   966      1,044      866      1,076      607      2,549      2,944   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  966      1,044      866      1,076      607      2,549      2,944   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Refer footnotes on page 15.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 13


BHP BILLITON PRODUCTION

 

           QUARTER ENDED      YEAR TO DATE  
     BHP Billiton
interest
    MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Copper (2) (continued)

                      

Molybdenum

                      

Payable metal in concentrate (t)

                      

Antamina

     33.8     281         83         40         75         151         266         1,118   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  281      83      40      75      151      266      1,118   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Iron Ore

Production (kt) (5)

Newman

  85   15,470      16,766      16,707      16,012      14,916      47,635      40,149   

Yarrie

  85   206      —        —        —        —        —        836   

Area C Joint Venture

  85   11,282      12,481      13,265      11,314      13,201      37,780      34,479   

Yandi Joint Venture

  85   15,622      17,615      16,607      17,694      16,798      51,099      50,903   

Jimblebar (6)

  85   2,721      3,740      3,971      2,813      4,513      11,297      5,123   

Wheelarra

  85   1,698      2,973      3,115      4,755      5,965      13,835      7,580   

Samarco

  50   2,281      3,068      3,426      3,764      3,586      10,776      7,851   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  49,280      56,643      57,091      56,352      58,979      172,422      146,921   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Coal

Metallurgical coal

Production (kt) (7)

BMA

  50   7,461      7,596      8,228      9,009      7,602      24,839      21,660   

BHP Billiton Mitsui Coal (8)

  80   1,995      2,143      2,204      2,128      2,057      6,389      6,166   

Illawarra

  100   2,011      2,147      2,337      2,401      1,799      6,537      5,366   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  11,467      11,886      12,769      13,538      11,458      37,765      33,192   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Energy coal

Production (kt)

South Africa (9)

  90   7,398      8,013      8,026      8,499      9,240      25,765      22,371   

USA

  100   2,359      2,412      2,690      2,512      2,247      7,449      8,400   

Australia

  100   5,018      5,030      4,752      4,608      5,252      14,612      14,934   

Colombia

  33.3   2,948      2,908      2,369      3,003      2,975      8,347      9,424   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  17,723      18,363      17,837      18,622      19,714      56,173      55,129   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Aluminium, Manganese and Nickel

Alumina

Saleable production (kt)

Worsley

  86   936      1,010      893      1,060      937      2,890      2,906   

Alumar

  36   314      315      342      338      311      991      947   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  1,250      1,325      1,235      1,398      1,248      3,881      3,853   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Aluminium

Production (kt)

Hillside

  100   172      176      180      176      168      524      539   

Bayside

  100   23      18      —        —        —        —        71   

Alumar

  40   26      15      13      13      12      38      89   

Mozal

  47.1   65      67      68      67      65      200      199   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  286      276      261      256      245      762      898   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Manganese ores

Saleable production (kt)

South Africa (10)

  44.4   782      936      1,049      1,007      913      2,969      2,590   

Australia (10)

  60   1,019      1,319      1,210      1,289      1,136      3,635      3,457   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  1,801      2,255      2,259      2,296      2,049      6,604      6,047   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Manganese alloys

Saleable production (kt)

South Africa (10) (11)

  60   91      106      112      121      114      347      271   

Australia (10)

  60   71      75      59      80      68      207      194   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  162      181      171      201      182      554      465   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Refer footnotes on page 15.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 14


BHP BILLITON PRODUCTION

 

           QUARTER ENDED      YEAR TO DATE  
     BHP Billiton
interest
    MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Aluminium, Manganese and Nickel (continued)

                      

Nickel

                      

Saleable production (kt)

                      

Cerro Matoso

     99.9     9.8         10.2         10.7         10.5         10.6         31.8         34.1   

Nickel West

     100     24.3         20.7         25.0         23.7         21.9         70.6         78.2   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  34.1      30.9      35.7      34.2      32.5      102.4      112.3   
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) LPG and ethane are reported as natural gas liquids (NGL). Product-specific conversions are made and NGL is reported in barrels of oil equivalent (boe). Total boe conversions are based on 6,000 scf of natural gas equals 1 boe.
(2) Metal production is reported on the basis of payable metal.
(3) Shown on 100% basis. BHP Billiton interest in saleable production is 57.5%.
(4) Includes Cerro Colorado and Spence.
(5) Iron ore production is reported on a wet tonnes basis.
(6) Shown on 100% basis. BHP Billiton interest in saleable production is 85%.
(7) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.
(8) Shown on 100% basis. BHP Billiton interest in saleable production is 80%.
(9) Shown on 100% basis. BHP Billiton interest in saleable production is 90%.
(10) Shown on 100% basis. BHP Billiton interest in saleable production is 60%, except Hotazel Manganese Mines which is 44.4%.
(11) Production includes Medium Carbon Ferro Manganese.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 15


PRODUCTION AND SALES REPORT

 

     QUARTER ENDED      YEAR TO DATE  
     MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Petroleum

                    

Crude oil, condensate and NGL (Mboe)

                    

Crude oil and condensate

                    

Bass Strait

     2,095         2,355         2,818         2,284         1,156         6,258         6,300   

North West Shelf

     1,504         1,408         1,501         1,395         1,355         4,251         4,866   

Stybarrow

     282         255         225         248         194         667         947   

Pyrenees

     2,386         2,075         2,109         1,901         1,709         5,719         5,388   

Other Australia (1)

     11         14         17         11         11         39         37   

Atlantis (2)

     3,734         4,114         4,175         3,740         3,645         11,560         10,675   

Mad Dog (2)

     704         187         390         877         720         1,987         1,932   

Shenzi (2)

     3,467         3,530         3,530         3,502         3,283         10,315         10,135   

Eagle Ford (3)

     5,215         6,593         7,060         8,098         10,837         25,995         13,869   

Permian (3)

     356         463         601         807         856         2,264         958   

Haynesville (3) (4)

     18         13         16         4         —           20         44   

Trinidad/Tobago

     279         248         252         227         196         675         913   

Other Americas (2) (5)

     329         371         349         500         348         1,197         1,080   

UK (6)

     254         27         34         77         64         175         701   

Algeria

     1,069         996         1,011         1,050         975         3,036         3,367   

Pakistan

     49         37         38         33         27         98         163   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  21,752      22,686      24,126      24,754      25,376      74,256      61,375   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

NGL

Bass Strait

  1,621      2,026      2,161      1,512      961      4,634      5,225   

North West Shelf

  276      288      293      273      268      834      909   

Atlantis (2)

  288      111      248      294      245      787      891   

Mad Dog (2)

  36      39      21      42      37      100      98   

Shenzi (2)

  280      252      271      260      235      766      798   

Eagle Ford (3)

  2,775      3,179      3,421      3,638      3,868      10,927      7,299   

Permian (3)

  211      292      362      358      287      1,007      636   

Haynesville (3) (4)

  —        —        —        —        —        —        2   

Other Americas (2) (5)

  2      —        38      25      14      77      23   

UK (6)

  3      4      4      7      7      18      14   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  5,492      6,191      6,819      6,409      5,922      19,150      15,895   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

    

  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total crude oil, condensate and NGL

  27,244      28,877      30,945      31,163      31,298      93,406      77,270   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Natural gas (bcf)

Bass Strait

  21.2      30.5      33.3      18.8      18.3      70.4      78.1   

North West Shelf

  31.4      31.8      36.9      33.4      32.8      103.1      95.9   

Other Australia (1)

  13.2      13.6      16.4      13.0      14.1      43.5      37.6   

Atlantis (2)

  1.8      1.9      1.7      2.3      1.7      5.7      4.9   

Mad Dog (2)

  0.1      0.1      0.1      0.1      0.1      0.3      0.3   

Shenzi (2)

  0.8      0.8      0.8      0.8      0.7      2.3      2.4   

Eagle Ford (3)

  23.9      30.8      28.5      26.3      27.7      82.5      72.1   

Permian (3)

  2.2      2.5      3.0      2.8      2.1      7.9      6.5   

Haynesville (3) (4)

  46.3      45.7      45.7      43.6      37.8      127.1      137.8   

Fayetteville (3)

  37.3      39.9      36.4      37.6      32.3      106.3      113.5   

Trinidad/Tobago

  9.3      9.1      8.8      7.8      7.2      23.8      28.9   

Other Americas (2) (5)

  0.2      0.2      0.2      0.2      0.2      0.6      0.8   

UK (6)

  5.4      0.8      0.7      1.4      1.1      3.2      15.1   

Pakistan

  8.9      7.3      6.4      6.3      5.4      18.1      30.4   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  202.0      215.0      218.9      194.4      181.5      594.8      624.3   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

    

  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total petroleum production (MMboe) (7)

  60.9      64.7      67.4      63.6      61.5      192.5      181.3   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 16


Petroleum (continued)

 

(1) Other Australia includes Minerva and Macedon.
(2) Gulf of Mexico volumes are net of royalties.
(3) Onshore US volumes are net of mineral holder royalties.
(4) Haynesville includes North Louisiana Conventional. BHP Billiton completed the sale of North Louisiana Conventional on 17 November 2014.
(5) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.
(6) UK includes Bruce/Keith and Liverpool Bay. BHP Billiton completed the sale of its 46.1% operated interest in Liverpool Bay on 31 March 2014.
(7) Total boe conversions are based on 6,000 scf of natural gas equals 1 boe.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 17


PRODUCTION AND SALES REPORT

 

         QUARTER ENDED     YEAR TO DATE  
         MAR
2014
    JUN
2014
    SEP
2014
    DEC
2014
    MAR
2015
    MAR
2015
    MAR
2014
 

Copper

                

Metals production is payable metal unless otherwise stated.

  

Escondida, Chile (1)

                

Material mined

   (kt)     96,420        94,673        101,920        113,522        110,607        326,049        283,978   

Sulphide ore milled

   (kt)     21,051        21,438        20,651        18,354        21,382        60,387        58,911   

Average copper grade

   (%)     1.12     1.33     1.20     1.45     1.49     1.38     1.26

Production ex mill

   (kt)     195.5        235.6        205.5        215.5        266.3        687.3        620.5   

Production

                

Payable copper (2)

   (kt)     190.6        241.0        199.4        208.8        260.9        669.1        603.7   

Payable gold concentrate

   (troy oz)     20,110        20,920        21,980        12,710        21,265        55,955        51,984   

Copper cathode (EW)

   (kt)     75.8        81.5        69.3        75.0        77.3        221.6        226.5   

Payable silver concentrate

   (troy koz)     1,078        1,320        1,159        958        1,355        3,472        2,951   

Sales

                

Payable copper

   (kt)     173.2        239.1        203.3        203.2        269.6        676.1        593.6   

Payable gold concentrate

   (troy oz)     20,889        20,920        21,980        12,710        21,265        55,955        51,981   

Copper cathode (EW)

   (kt)     76.4        83.3        64.1        79.8        64.9        208.8        226.1   

Payable silver concentrate

   (troy koz)     1,046        1,320        1,159        958        1,355        3,472        2,958   

(1)    Shown on 100% basis. BHP Billiton interest in saleable production is 57.5%.

(2)    June 2014 quarter includes 4.3 kt of copper contained in ore sold to third parties.

       

       

Pampa Norte, Chile

                

Cerro Colorado

                

Material mined

   (kt)     15,939        17,087        15,517        16,124        15,030        46,671        49,197   

Ore milled

   (kt)     4,508        4,016        4,189        4,446        4,501        13,136        13,170   

Average copper grade

   (%)     0.75     0.76     0.77     0.70     0.68     0.72     0.76

Production

                

Copper cathode (EW)

   (kt)     22.0        21.3        15.7        20.6        21.5        57.8        59.0   

Sales

                

Copper cathode (EW)

   (kt)     12.4        28.7        20.0        21.0        22.0        63.0        47.3   

Spence

                

Material mined

   (kt)     25,037        25,962        24,238        23,422        21,429        69,089        77,279   

Ore milled

   (kt)     4,735        3,775        4,409        4,560        3,783        12,752        14,383   

Average copper grade

   (%)     1.23     1.30     1.33     1.20     1.06     1.20     1.20

Production

                

Copper cathode (EW)

   (kt)     41.4        45.5        40.1        49.0        45.0        134.1        107.3   

Sales

                

Copper cathode (EW)

   (kt)     40.0        49.6        36.9        51.8        45.0        133.7        101.8   

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    18


PRODUCTION AND SALES REPORT

 

          QUARTER ENDED     YEAR TO DATE  
          MAR
2014
    JUN
2014
    SEP
2014
    DEC
2014
    MAR
2015
    MAR
2015
    MAR
2014
 

Copper (continued)

                 

Metals production is payable metal unless otherwise stated.

  

Antamina, Peru

                 

Material mined (100%)

   (kt)      45,837        49,797        54,675        43,793        49,787        148,255        153,137   

Sulphide ore milled (100%)

   (kt)      11,729        12,756        12,370        13,594        12,880        38,844        36,015   

Average head grades

                 

- Copper

   (%)      1.00     0.77     0.81     0.74     0.79     0.78     1.12

- Zinc

   (%)      0.54     0.58     0.84     0.66     0.69     0.73     0.61

Production

                 

Payable copper

   (kt)      33.0        26.2        25.7        27.3        26.7        79.7        117.3   

Payable zinc

   (t)      9,335        13,450        20,736        16,271        13,571        50,578        38,589   

Payable silver

   (troy koz)      961        843        954        885        872        2,711        3,516   

Payable lead

   (t)      363        397        633        486        493        1,612        1,101   

Payable molybdenum

   (t)      281        83        40        75        151        266        1,118   

Sales

                 

Payable copper

   (kt)      30.2        26.5        26.3        29.8        26.5        82.6        116.0   

Payable zinc

   (t)      10,158        14,527        12,912        21,459        15,545        49,916        44,678   

Payable silver

   (troy koz)      910        893        896        1,026        915        2,837        3,780   

Payable lead

   (t)      405        521        320        711        461        1,492        1,070   

Payable molybdenum

   (t)      347        142        50        90        163        303        1,200   

Cannington, Australia

                 

Material mined

   (kt)      773        806        823        925        813        2,561        2,640   

Ore milled

   (kt)      779        821        819        850        791        2,460        2,381   

Average head grades

                 

- Silver

   (g/t)      311        286        301        246        247        265        299   

- Lead

   (%)      7.3     6.9     7.1     7.0     6.3     6.8     7.1

- Zinc

   (%)      2.4     3.1     3.8     3.2     3.2     3.4     2.9

Production

                 

Payable silver

   (troy koz)      6,465        6,029        6,701        5,534        5,130        17,365        19,132   

Payable lead

   (t)      47,214        45,768        48,941        49,625        40,111        138,677        140,760   

Payable zinc

   (t)      10,074        15,666        19,927        17,039        16,389        53,355        42,230   

Sales

                 

Payable silver

   (troy koz)      6,127        5,641        7,084        5,631        4,972        17,687        20,519   

Payable lead

   (t)      43,649        41,607        51,197        48,482        40,341        140,020        147,334   

Payable zinc

   (t)      11,020        15,708        15,450        18,028        17,057        50,535        46,547   

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    19


PRODUCTION AND SALES REPORT

 

          QUARTER ENDED     YEAR TO DATE  
          MAR
2014
    JUN
2014
    SEP
2014
    DEC
2014
    MAR
2015
    MAR
2015
    MAR
2014
 

Copper (continued)

                 

Metals production is payable metal unless otherwise stated.

  

Olympic Dam, Australia

                 

Material mined (1)

   (kt)      2,495        2,405        2,692        2,667        2,186        7,545        8,109   

Ore milled

   (kt)      2,421        2,654        2,206        2,776        1,477        6,459        7,466   

Average copper grade

   (%)      1.90     1.91     1.97     1.70     1.88     1.83     1.87

Average uranium grade

   (kg/t)      0.54        0.51        0.61        0.52        0.56        0.56        0.53   

Production

                 

Copper cathode (ER)

   (kt)      48.4        51.3        36.9        39.9        26.3        103.1        121.9   

Copper cathode (EW)

   (kt)      2.7        3.2        2.3        3.1        2.3        7.7        8.0   

Uranium oxide concentrate

   (t)      966        1,044        866        1,076        607        2,549        2,944   

Refined gold

   (troy oz)      28,630        38,785        30,364        38,537        26,441        95,342        82,550   

Refined silver

   (troy koz)      253        317        254        243        172        669        655   

Sales

                 

Copper cathode (ER)

   (kt)      47.5        54.2        36.6        39.9        28.0        104.5        117.6   

Copper cathode (EW)

   (kt)      2.5        3.0        2.5        3.1        2.7        8.3        7.4   

Uranium oxide concentrate

   (t)      732        1,426        848        1,125        877        2,850        2,699   

Refined gold

   (troy oz)      31,129        38,500        30,707        34,938        31,938        97,583        85,030   

Refined silver

   (troy koz)      262        367        227        238        206        671        615   

(1)    Material mined refers to run of mine ore mined and hoisted.

       

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015    20


PRODUCTION AND SALES REPORT

 

     QUARTER ENDED      YEAR TO DATE  
     MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Iron Ore

                    

(kt)

                    

Iron ore

                    

Pilbara, Australia

                    

Production (1)

                    

Newman

     15,470         16,766         16,707         16,012         14,916         47,635         40,149   

Yarrie (2)

     206         —           —           —           —           —           836   

Area C Joint Venture

     11,282         12,481         13,265         11,314         13,201         37,780         34,479   

Yandi Joint Venture

     15,622         17,615         16,607         17,694         16,798         51,099         50,903   

Jimblebar (3)

     2,721         3,740         3,971         2,813         4,513         11,297         5,123   

Wheelarra (4)

     1,698         2,973         3,115         4,755         5,965         13,835         7,580   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  46,999      53,575      53,665      52,588      55,393      161,646      139,070   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total production (100%)

  54,812      62,369      62,436      61,371      64,372      188,179      162,708   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales

Lump

  11,230      11,572      12,766      12,661      12,617      38,044      31,518   

Fines

  35,880      40,834      41,633      41,185      42,635      125,453      106,919   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  47,110      52,406      54,399      53,846      55,252      163,497      138,437   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total sales (100%)

  55,018      61,015      63,303      62,848      64,201      190,352      162,387   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

(1)    Iron ore production and sales are reported on a wet tonnes basis.

(2)    Yarrie ceased production on 25 February 2014.

(3)    Shown on 100% basis. BHP Billiton interest in saleable production is 85%.

(4)    Production from Wheelarra is processed via the Jimblebar processing hub.

       

       

       

       

Samarco, Brazil

Production (1)

  2,281      3,068      3,426      3,764      3,586      10,776      7,851   

Sales

  2,036      3,077      3,303      4,151      2,876      10,330      7,737   

 

(1) Iron ore production and sales are reported on a wet tonnes basis.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 21


PRODUCTION AND SALES REPORT

 

     QUARTER ENDED      YEAR TO DATE  
     MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Coal

                    

(kt)

                    

Metallurgical coal

                    

Queensland Coal

                    

Production (1)

                    

BMA

                    

Blackwater

     1,759         1,625         1,777         1,775         1,569         5,121         5,105   

Goonyella

     2,041         1,553         2,144         2,350         1,951         6,445         5,777   

Peak Downs

     1,314         1,282         1,144         1,235         1,263         3,642         3,627   

Saraji

     1,108         1,058         1,022         1,257         1,033         3,312         3,500   

Gregory Joint Venture

     654         997         808         994         607         2,409         1,968   

Daunia

     585         518         628         617         489         1,734         1,683   

Caval Ridge

     —           563         705         781         690         2,176         —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total BMA

  7,461      7,596      8,228      9,009      7,602      24,839      21,660   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

BHP Billiton Mitsui Coal (2)

South Walker Creek

  1,312      1,323      1,391      1,236      1,282      3,909      3,923   

Poitrel

  683      820      813      892      775      2,480      2,243   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total BHP Billiton Mitsui Coal

  1,995      2,143      2,204      2,128      2,057      6,389      6,166   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Queensland Coal

  9,456      9,739      10,432      11,137      9,659      31,228      27,826   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales

Coking coal

  7,030      7,250      7,306      8,379      7,118      22,803      19,670   

Weak coking coal

  2,594      2,358      2,859      2,670      2,720      8,249      7,496   

Thermal coal

  122      134      43      171      182      396      553   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  9,746      9,742      10,208      11,220      10,020      31,448      27,719   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

(1)    Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.

(2)    Shown on 100% basis. BHP Billiton interest in saleable production is 80%.

       

       

Illawarra, Australia

Production (1)

  2,011      2,147      2,337      2,401      1,799      6,537      5,366   

Sales

Coking coal

  1,581      1,761      1,617      1,830      1,810      5,257      4,160   

Thermal coal

  460      486      373      426      272      1,071      1,137   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  2,041      2,247      1,990      2,256      2,082      6,328      5,297   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 22


PRODUCTION AND SALES REPORT

 

     QUARTER ENDED      YEAR TO DATE  
     MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Coal (continued)

                    

(kt)

                    

Energy coal

                    

South Africa (1)

                    

Production

     7,398         8,013         8,026         8,499         9,240         25,765         22,371   

Sales

                    

Export

     3,179         3,528         3,739         4,174         4,354         12,267         9,770   

Local utility

     3,478         4,498         4,367         4,650         4,753         13,770         11,832   

Inland

     —           —           36         84         168         288         —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  6,657      8,026      8,142      8,908      9,275      26,325      21,602   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

(1)    Shown on 100% basis. BHP Billiton interest in saleable production is 90%.

       

New Mexico, USA

Production

Navajo Coal (1)

  975      1,082      1,243      1,064      1,156      3,463      4,045   

San Juan Coal

  1,384      1,330      1,447      1,448      1,091      3,986      4,355   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  2,359      2,412      2,690      2,512      2,247      7,449      8,400   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales - local utility

  2,360      2,382      2,723      2,592      2,177      7,492      8,439   

(1)    BHP Billiton completed the sale of Navajo Mine on 30 December 2013. As BHP Billiton will retain control of the mine until full consideration is received, production will continue to be reported by the Group.

        

NSW Energy Coal, Australia

Production

  5,018      5,030      4,752      4,608      5,252      14,612      14,934   

Sales

Export

  4,346      4,548      4,787      4,625      4,897      14,309      13,270   

Inland

  270      333      371      228      337      936      1,048   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  4,616      4,881      5,158      4,853      5,234      15,245      14,318   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Cerrejón, Colombia

Production

  2,948      2,908      2,369      3,003      2,975      8,347      9,424   

Sales - export

  2,647      2,858      3,077      2,732      3,005      8,814      8,869   

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 23


PRODUCTION AND SALES REPORT

 

     QUARTER ENDED      YEAR TO DATE  
     MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Aluminium, Manganese and Nickel

                    

(kt)

                    

Alumina

                    

Saleable production

                    

Worsley, Australia

     936         1,010         893         1,060         937         2,890         2,906   

Alumar, Brazil

     314         315         342         338         311         991         947   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  1,250      1,325      1,235      1,398      1,248      3,881      3,853   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales

Worsley, Australia

  986      1,020      875      1,068      866      2,809      2,844   

Alumar, Brazil

  262      388      323      371      285      979      860   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  1,248      1,408      1,198      1,439      1,151      3,788      3,704   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Aluminium

Production

Hillside, South Africa

  172      176      180      176      168      524      539   

Bayside, South Africa (1)

  23      18      —        —        —        —        71   

Alumar, Brazil

  26      15      13      13      12      38      89   

Mozal, Mozambique

  65      67      68      67      65      200      199   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  286      276      261      256      245      762      898   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales

Hillside, South Africa

  187      168      174      178      166      518      540   

Bayside, South Africa (1)

  24      24      —        —        —        —        72   

Alumar, Brazil

  25      17      12      13      13      38      87   

Mozal, Mozambique

  72      62      64      73      66      203      214   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  308      271      250      264      245      759      913   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

(1)    Aluminium smelting at Bayside ceased with the closure of the final potline in June 2014.

       

Manganese ores

Saleable production

South Africa (1)

  782      936      1,049      1,007      913      2,969      2,590   

Australia (1)

  1,019      1,319      1,210      1,289      1,136      3,635      3,457   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  1,801      2,255      2,259      2,296      2,049      6,604      6,047   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales

South Africa (1)

  915      931      999      983      1,024      3,006      2,549   

Australia (1)

  1,252      1,288      1,224      1,208      1,143      3,575      3,775   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  2,167      2,219      2,223      2,191      2,167      6,581      6,324   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Manganese alloys

Saleable production

South Africa (1) (2)

  91      106      112      121      114      347      271   

Australia (1)

  71      75      59      80      68      207      194   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  162      181      171      201      182      554      465   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales

South Africa (1) (2)

  113      112      115      109      116      340      288   

Australia (1)

  85      74      56      73      43      172      202   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

  198      186      171      182      159      512      490   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Shown on 100% basis. BHP Billiton interest in saleable production is 60%, except Hotazel Manganese Mines which is 44.4%.
(2) Production includes Medium Carbon Ferro Manganese.

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 24


PRODUCTION AND SALES REPORT

 

     QUARTER ENDED      YEAR TO DATE  
     MAR
2014
     JUN
2014
     SEP
2014
     DEC
2014
     MAR
2015
     MAR
2015
     MAR
2014
 

Aluminium, Manganese and Nickel (continued)

                    

(kt)

                    

Nickel

                    

Cerro Matoso, Colombia

                    

Production

     9.8         10.2         10.7         10.5         10.6         31.8         34.1   

Sales

     10.0         10.2         10.5         10.1         11.0         31.6         34.9   

Nickel West, Australia

                    

Saleable production

                    

Nickel contained in concentrate

     2.5         1.6         2.2         1.7         1.9         5.8         8.3   

Nickel contained in finished matte

     6.1         4.4         9.1         5.5         6.1         20.7         21.0   

Nickel metal

     15.7         14.7         13.7         16.5         13.9         44.1         48.9   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Nickel production

  24.3      20.7      25.0      23.7      21.9      70.6      78.2   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Sales

Nickel contained in concentrate

  2.3      1.6      2.1      1.6      2.0      5.7      7.8   

Nickel contained in finished matte

  5.3      6.2      6.6      7.4      6.4      20.4      20.5   

Nickel metal

  16.7      14.4      11.9      17.5      13.5      42.9      49.2   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Nickel sales

  24.3      22.2      20.6      26.5      21.9      69.0      77.5   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

 

BHP Billiton Operational Review for the nine months ended 31 March 2015 25


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 22, 2015 By:

/s/ Rachel Agnew

Name: Rachel Agnew
Title: Company Secretary