29th Jul 2009 07:00
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NEWS RELEASE |
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Release Time |
Immediate |
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Date |
29 July 2009 |
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Number |
15/09 |
UPDATE ON iron Ore PRICE NEGOTIATIONS
BHP Billiton today announced the terms it has agreed with a range of iron ore customers for the 2009 contract year. These terms vary and reflect the specific needs and requirements of each customer, consistent with our marketing approach.
BHP Billiton has settled 23 per cent of total iron ore volumes at an agreed annual contract price. The price for iron ore fines will be approximately 33 per cent lower than the contract prices agreed in the 2008 contract year. The price for iron ore lump will be approximately 44 per cent lower than the contract prices agreed in the 2008 contract year.
A further 30 per cent of BHP Billiton's total iron ore volumes will be sold on a mix of quarterly negotiated pricing, market clearing price (spot market) and index-based pricing.
Negotiations for the remaining 47 per cent of iron ore volumes are ongoing.
The Company believes that current settlements are indicative of continued progress towards transparent market pricing.
Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com
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Australia Samantha Evans, Media Relations Tel: +61 3 9609 2898 Mobile: +61 400 693 915 email: [email protected] |
United Kingdom Andre Liebenberg, Investor Relations Tel: +44 20 7802 4131 Mobile: +44 7920 236 974 email: [email protected]
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Peter Ogden, Media Relations Tel: +61 3 9609 2812 Mobile: +61 428 599 190 Email: [email protected] |
Illtud Harri, Media Relations Tel: +44 20 7802 4195 Mobile: +44 7920 237 246 email: [email protected]
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Kelly Quirke, Media Relations Tel: +61 3 9609 2896 Mobile: +61 429 966 312 Email: [email protected] |
United States Scott Espenshade, Investor Relations Tel: +1 713 599 6431 Mobile: +1 713 208 8565 email: [email protected] |
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Leng Lau, Investor Relations Tel: +61 3 9609 4202 Mobile: +61 403 533 706 email: [email protected] South Africa |
Ruban Yogarajah, Media Relations Tel: US +1 713 966 2907 or UK +44 20 7802 4033Mobile: UK +44 7827 082 022 email: [email protected] |
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Bronwyn Wilkinson, Investor & Media Relations Tel: +44 20 7802 4015 Mobile: +44 7500 785 892 email: [email protected]
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BHP Billiton Limited ABN 49 004 028 077 Registered in Australia Registered Office: 180 Lonsdale Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015
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BHP Billiton Plc Registration number 3196209 Registered in England and Wales Registered Office: Neathouse Place London SW1V 1BH United Kingdom Tel +44 20 7802 4000 Fax +44 20 7802 4111
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A member of the BHP Billiton group which is headquartered in Australia |
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