Settles 2004 Fine I/O Prices
January 14 2004 - 2:01AM
UK Regulatory
RNS Number:2089U
BHP Billiton PLC
14 January 2004
14 January 2004
Number: 02/04
BHP BILLITON SETTLES 2004 FINE IRON ORE PRICES
BHP Billiton today announced it had reached agreement with Nippon Steel on the
price of its Fine iron ores for the year commencing 1 April 2004. Negotiations
with other Japanese customers are continuing.
The agreed price is as follows:
* Mt Newman High Grade Fines 35.99 US cents per dry metric tonne unit;
an increase of 18.62 per cent.*
Prices for BHP Billiton's other Fine iron ore products will increase by similar
percentages.
It is expected that the price of Mt Newman High Grade Lump will be finalised in
coming days.
*Notes:
* Following agreement on the annual percentage change, Japanese iron ore
prices are denominated in US cents per dry metric tonne unit, which reflects a
common base per unit of iron content.
* To determine the USD price per tonne, the following conversion formula
must be used:
o US cents per dry metric tonne unit multiplied by iron content
o The iron content for Mt Newman Fine ores is about 64%
* Expressed in dry long ton units, the 2004 price for Mt Newman High
Grade Fines is 36.57 US cents, an increase of 18.62 per cent.
* In FY2003 BHP Billiton's Western Australian iron ore operations sold
80.3 million tonnes (100% basis) of ore.
* Fine ores represented about 75% of BHP Billiton's FY2003 sales.
* The reference price of Fine ores is usually established first as this
represents about 60% of the traded market. Prices for Lump and pellets are then
usually determined as a premium to the Fines price.
Further information on BHP Billiton can be found on our Internet site: http://
www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Investor Relations Mark Lidiard, Investor & Media Relations
Tel: +61 3 9609 3952 Mobile: +61 408 313 259 Tel: +44 20 7802 4156
email: Andrew.W.Nairn@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com
Tania Price, Media Relations South Africa
Michael Campbell, Investor & Media Relations
Tel: +61 3 9609 3815 Mobile: +61 419 152 780
Tel: +27 11 376 3360 Mobile: +27 82 458 2587
email: Tania.Price@bhpbilliton.com
email: Michael.J.Campbell@bhpbilliton.com
United States
Francis McAllister, Investor Relations
Tel: +1 713 961 8625 Mobile: +1 713 480 3699
email: Francis.R.McAllister@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 27, 180 Lonsdale Street Melbourne Registered Office: Neathouse Place London SW1V 1BH United
Victoria 3000 Kingdom
Telephone +61 1300 554 757 Facsimile +61 3 9609 3015 Telephone +44 20 7802 4000 Facsimile +44 20 7802 4111
The BHP Billiton Group is headquartered in Australia
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCIIFSRLRISLIS