BHP Billiton Limited, Strikers In Chile Agree To Resume Talks-Reuters
November 20, 2009 |
| Reuters reported that Strikers at the Spence copper mine agreed to resume wage talks with owner BHP Billiton in an effort to end a 39-day work stoppage that threatened to spread to the Company's other operations in Chile. A Chilean mine union earlier threatened to halt output at mines owned by BHP Billiton in solidarity with strikers at its Spence deposit, fanning fears of supply disruptions in the Company. Spence union workers walked off the job on October 13 over a wage disagreement, marking one of the longest stoppages at a private mine in the South American country. The threats of wide protests by the mining federation, which comprises around 5,000 workers at main deposits, including workers at BHP copper mines like Escondida, could help sustain copper prices that have more than doubled so far this year. Other mines in Chile are seeking to avert industrial action by reaching collective wage agreements with workers. Federation board member had said workers at other BHP mines could halt or slow output, or cut supplies. He added that the federation's board was planning to meet to decide its next step. A federation official told Reuters they were keeping a close eye on negotiations before deciding on any protest action. BHP shut down the Spence mine this week after workers invaded installations, accusing the miners of sabotage and of seizing pumps that circulate sulfuric acid used for the leaching of the ore. |
Europe Steel Lobby Urges European Commission To Oppose Rio Tinto plc and BHP Billiton Limited-Reuters
November 18, 2009 |
| Reuters reported that Europe's steel industry has voiced strong opposition to a planned $116 billion iron ore joint venture by Rio Tinto plc and BHP Billiton Limited, and has called on European regulators to oppose the deal. Eurofer, the main lobby group for European steel makers, said in a statement on its web site this week that it wanted the European Commission to study the venture, which would combine the Australian iron ore operations of the two companies. Eurofer said the joint venture would pose as much of a competitive threat as BHP Billiton's original proposal, aborted a year ago, for a full takeover of Rio Tinto. |
Striking Chile Spence Union Seeks To Restart Talks With BHP Billiton Limited-DJ
November 18, 2009 |
| Dow Jones reported that despite the striking union at Chilean copper mine Spence lowering demands for wage and benefits improvements, BHP Billiton Limited has declined to restart negotiations, according to union leader Andres Ramirez. The labor strike, now in its 37th day, is by far the longest in Chile's private mining sector. Strikes in the Andean nation, especially in the mining sector, rarely go for more than a week. The union recently lowered its demands to $19,000 in bonuses, a $2,600 one-time bonus to resume working, a 4.5% increase in base salary, plus improved production bonuses and social benefits - however mine owner BHP Billiton said demands were still too high, according to Ramirez. They decided not to sit down at the negotiation table with us, Ramirez said, adding that 560 unionized workers decided Tuesday night to move the strike closer to the processing plant, where workers are not blocking access to the plant site or roads. Previously, the union sought a 5.5% salary increase and bonuses totaling around $27,000. |
BHP Billiton Limited Unlikely To Make Fresh Rio Tinto plc Bid When Ban Lifted-Reuters
November 17, 2009 |
| Reuters reported that BHP Billiton Limited making another attempt to take over Rio Tinto plc soon after a bid ban expires later this month is low. BHP scrapped its hostile all-share bid for Rio in November last year, blaming sliding metals prices and the threat of global recession. It has to wait a year before it can rebid at a lower price under UK takeover regulations. |
European Steel Companies Complain About Planned BHP Billiton Limited And Rio Tinto plc Joint Venture-DJ
November 16, 2009 |
| Dow Jones reported that European steel makers are complaining to regulators about an iron ore joint venture BHP Billiton Limited and Rio Tinto plc are planning in Western Australia. The two companies, which were in talks to merge last year, are planning to jointly produce iron ore at adjacent mines in the region. Eurofer, which represents steel makers including ArcelorMittal and ThyssenKrupp AG, told the European Commission the joint venture would restrict competition in the sea-borne iron ore market. This joint venture will have the same impact on the iron ore market as would have had the original full merger proposal comprehensively objected to by the commission last year, Eurofer said in a statement. |
BHP Billiton Limited's Chile Spence Union Lowers Demands As Strike Drags Into Day 35-DJ
November 16, 2009 |
| Dow Jones reported that as the labor strike at Chilean copper mine Spence entered its 35th day, the 560-member union said it has lowered its wage and benefits demands in the hopes of restarting negotiations. The union is now seeking $19,000 in bonuses, a $2,600 one time bonus to resume working, a 4.5% increase in base salary, plus improved production bonuses and social benefits. The union hopes the Company accepts the invitation to resume negotiations as soon as possible and rebuild mutual trust to strengthen the long-term relationship between the Company and its workers, the union said in a statement. Previously, the union sought a 5.5% salary increase and bonuses totaling around $27,000. The 560 unionized workers walked off the job in mid-October after voting against a contract renewal offer that included a 4% wage increase, improved social benefits and about $15,000 in bonuses. The now 35-day-long labor strike is the longest at a privately owned mine in Chile. Strikes in Chile, especially in the mining sector, usually don't last more than a week or so. The open-pit Spence mine, owned by BHP Billiton Limited. |
First Quantum Minerals Limited Eyes BHP Billiton Limited's Ravensthorpe Mine-DJ
November 15, 2009 |
| Dow Jones reported that First Quantum Minerals Limited is among the companies taking part in the process to buy BHP Billiton Limited's Ravensthorpe nickel operations in Western Australia, the Australian Financial Review reported on its Web site, citing an unnamed, well-placed source. |
Bids For BHP Billiton Limited's Ravensthorpe Mine Due November 25-DJ
November 13, 2009 |
| Dow Jones reported that three potential bidders remain in the running for BHP Billiton Limited's Ravensthorpe nickel operation in Western Australia, with final bids due November 25, people familiar with the situation said. Australia's Minara Resources Ltd. as well as Poseidon Nickel Ltd. and China Metallurgical Group Corp., or MCC, are all still taking part in the sales process for the idled nickel laterite operation. Confirmation that there are three potential bidders in the process and that a date is set for final offers will raise market hopes that BHP Billiton may yet be able to extract some value from the failed USD2.1 billion operation, which it wrote off in January just eight months after it was commissioned. |
Australia State Threatens Rio Tinto Limited And BHP Billiton Limited Iron Merger-Reuters
November 12, 2009 |
| Reuters reported that Western Australia state has raised the stakes in its demand for higher royalties from iron ore miners Rio Tinto Limited and BHP Billiton Limited, telling them that it would not rubber-stamp their planned iron ore merger. Western Australia Premier Colin Barnett told the Chiefs of both firms in a meeting this week he wanted to double their royalties to put them on par with other miners in the state, according to Australian newspapers. The major point I stressed is I want to see full royalties applied to both BHP and Rio Tinto projects, The Australian quoted Barnett as telling reporters on Wednesday, a day after meeting the Rio Tinto and BHP Billiton Chief Executives. The Australian newspaper quoted Barnett as saying both Chief Executive Officer's drew breath when he made this remark but they made no concession. Rio Tinto and BHP Billiton announced in June a plan to merge their Australian iron ore operations, all based in the west, in a joint venture valued at the time at $116 billion. The plan is already under fire from steel companies that rely on ore from both companies who fear it will create an Australian oligopoly capable of unfairly influencing pricing and supply. The plan needs a series of government approvals, including new legislation in Western Australia state. |
Breakaway Resources Limited Enters Into Farmin And Joint Venture With BHP Billiton Limited's BHP Billiton Minerals Pty Ltd
November 11, 2009 |
| Breakaway Resources Limited (Breakaway) announced that it has entered into a Farmin and Joint Venture, termed the Altia Joint Venture Project (Altia), with BHP Billiton Minerals Pty Ltd (BHP Billiton), on Breakaway's 100%-owned Eloise Regional Exploration Project, located 4km south west of the Eloise Copper Mine in the Cloncurry district of Queensland. The joint venture project covers an area of approximately 8km2 and hosts the Altia Silver-Lead-Zinc Deposit where Breakaway's has previously announced a JORC Code compliant Inferred Resource of 5.78Mt @ 40.3g/t silver, 3.96% lead and 0.49% zinc (7.5Moz of contained silver and 229Kt of contained lead). Under the agreement, BHP Billiton can earn a 70% interest in the silver-lead-zinc rights at Altia by completing expenditure of AUD10 million over five years. BHP Billiton must spend a minimum of AUD1 million within the first year of the Joint Venture. On BHP Billiton reaching its 70% interest, Breakaway's 30% interest may be sold to BHP Billiton. If Breakaway elects not to sell its interest, it must contribute on a pro rata basis to the cost of ongoing exploration and a Bankable Feasibility Study. BHP Billiton retains a right to purchase Breakaway's 30% interest following completion of a Bankable Feasibility Study and before a decision to mine is taken. The value of Breakaway's 30% interest for sale purposes following completion of a Bankable Feasibility Study is to be determined by negotiation with BHP Billiton at the time. |
Jinchuan Out Of Bidding For BHP Billiton Limited's Ravensthorpe Nickel-DJ
November 9, 2009 |
| Dow Jones reported that Jinchuan Group has dropped out of the bidding for miner BHP Billiton Limited's Ravensthorpe nickel operation in Australia, according to an Australia associate firm of Jinchuan. Australia-listed Metals X, owned 14.8% by Jinchuan, said the Chinese firm had not been invited to take part in the next stage of the Ravensthorpe sale process. |
Rio Tinto plc Expects To Meet December 5 Deadline For BHP Billiton Limited Joint Venture-DJ
November 9, 2009 |
| Dow Jones reported that Rio Tinto plc's Iron Ore Chief Executive Sam Walsh said Rio Tinto remains on track to meet a December 5 deadline for signing a binding iron ore joint venture with BHP Billiton Limited. Both sides have got teams that are working to that timeframe, Walsh told reporters on the sidelines of a conference. Walsh said Rio Tinto has not heard of any objections from EU regulators to the joint venture, which Rio and BHP aim to have operating by mid-2010. Rio Tinto and BHP Billiton have said they expect potential synergies of more than $10 billion from bringing together their businesses in the Pilbara region of Western Australia. |
Jinchuan, Palmer Exit Bidding For BHP Billiton Limited 's Ravensthorpe-DJ
November 4, 2009 |
| Dow Jones reported that China's Jinchuan Group and Australian mining magnate Clive Palmer have exited the sales process for BHP Billiton Limited's failed Ravensthorpe nickel operation in Western Australia, people familiar with the situation said. However, one of the people said China Metallurgical Group Corp., or MCC, is among potential buyers that remain in the running for the giant nickel laterite project. The exit of the two bidders will reinforce the market view that BHP Billiton is unlikely to realize a significant price for the operation, with the buyer facing the cost of restarting the operation and the challenge of resolving technical issues. |
Minara Resources Limited Participating In BHP Billiton Limited's Ravensthorpe Sale-DJ
November 2, 2009 |
| Dow Jones reported that Minara Resources Limited said it is participating in the sale process for BHP Billiton Limited's Ravensthorpe nickel mine in Western Australia. Minara Resources Limited said it was exploring various funding options to potentially buy the idled nickel laterite operation, adding there was no certainty about the outcome. The Australian Financial Review reported that China Metallurgical Group as well as Minara Resources Limited remained in the bidding for the USD2.1 billion mine, after China's nickel miner Jinchuan pulled out of a bid consortium with Minara Resources Limited. However, other potential joint bidders have shown interest. |
China Rejected Invite To Join Rio Tinto plc And BHP Billiton Limited's Pilbara Joint Venture-DJ
November 2, 2009 |
| Dow Jones reported that Aluminum Corp. of China, or Chinalco, turned down an invitation to join Rio Tinto plc and BHP Billiton Limited's Pilbara joint venture just days before the deal was announced June 5, the Australian reported on its Web site, without citing sources. Chinalco is thought to have been offered an up to 5% stake in the joint venture in May, requiring an investment of at least $5.8 billion based on the valuations implicit in the June 5 deal, the Web site reported. Chinalco turned down the offer because the restructuring of the original deal meant it wouldn't then be offered seats on Rio Tinto plc's board, the Web site said. However, neither Rio Tinto plc nor BHP Billiton Limited seem to have ruled out engagement with Chinalco on joining the joint venture, the Web site said. |
Striking At BHP Billiton Limited's Chile Spence Copper Workers; Management To Resume Talks-DJ
November 2, 2009 |
| Dow Jones reported that as the labor strike at Chilean copper mine Spence enters its 21sth day Monday, union leaders and mine management will meet with government labor officials later in the day to restart talks. Workers walked off their jobs on October 13 after voting against the wage and benefits package the mining company offered to renew their contracts, which expired September 30. The Labor Office invited us back to talk, and hopefully this time we'll begin to really negotiate instead of just talking, Spence union president said. Spence union president added that the union won't accept any offer that falls below the October 10 offer that union members voted against. Last week, both sides briefly met to restart talks but these ended after the Company's wage and benefits offer was lower than the October 10 package. According to Chilean labor laws, striking workers could have broken away from the walk-out and returned to work in the 15th day, but Spence union president said none of the 560 union members have opted to do so. Spence, owned by BHP Billiton Limited. |
Consortium Including BHP Billiton Limited Makes Two Oil Finds In Gulf of Mexico-Reuters
October 30, 2009 |
| Reuters reported that Repsol YPF SA has struck oil at two existing wells in the Gulf of Mexico. The two columns of oil, 170 metres and 30 metres thick, are at two existing wells in the Shenzi field, operated by BHP Billiton Limited with a 44 percent stake. Repsol YPF SA and Hess Corporation each have 28 percent stakes in the field, where the two ultra-deep wells called Shenzi-G104 and Shenzi 8 are located, at depths of over 7,800 metres each. |
BHP Billiton Limited's Maruwai Draws Bid From PT Bumi Resources Tbk-Reuters
October 29, 2009 |
| Reuters reported that PT Bumi Resources Tbk is among the bidders for BHP Billiton Limited's Maruwai coal project in Indonesia in a deal that could be valued at $500 million. Final offers are due on November 2. The Company is simultaneously receiving bids for 100% of the project valued at roughly $500 million and also for 25% minority stakes. The miner has not disclosed how much of the project it ultimately plans to sell. |
BHP Billiton Limited Says May Do More Deals Like Rio Tinto plc Iron Ore Joint Venture-Reuters
October 29, 2009 |
| Reuters reported that BHP Billiton Limited is considering further joint ventures such as its 50-50 iron ore deal with Rio Tinto plc. |
PT Indika Energy May Buy Stakes In BHP Billiton Limited Indonesia, Berau Coal Projects-DJ
October 28, 2009 |
| Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local coal company PT Berau Coal, and has interest in several other potential acquisitions in the coal sector, a company executive said. Indika Vice President-Director told Dow Jones Newswires that it has submitted an expression of interest in BHP Billiton's Maruwai metallurgical coal project and aims to submit a bid for a stake. BHP Billiton plans to sell a 25% stake in Maruwai, which consists of seven coal mine sites in Central and East Kalimantan provinces, as early as the first quarter of next year. |
Strike At Chile Spence Mine Persists After Talks; No Plans To Meet With BHP Billiton Limited To Resolve Dispute-Reuters
October 26, 2009 |
| Reuters reported that Copper workers at Chile's Spence mine entered their fourteenth day of a strike and had no plans to meet with owner BHP Billiton Limited to resolve the dispute, which has affected production. A government-appointed mediator did not break the impasse in meetings last week aimed at reviving negotiations, seen as an indicator of upcoming labor talks at other mines in Chile. |
BHP Billiton Limited Says Iron-Ore Joint Venture With Rio Tinto plc on Track-Reuters
October 22, 2009 |
| Reuters reported that a proposed iron-ore joint venture between BHP Billiton Limited and Rio Tinto plc was on track. Argus BHP Billiton's Chairman dismissed speculation that the venture has only a 50-50 chance of being approved. |
BHP Billiton Limited May Sell 25% Maruwai Stake By 1Q 2010-DJ
October 22, 2009 |
| Dow Jones reported that BHP Billiton Limited will sell a 25% stake in its Maruwai metallurgical coal development in Indonesia and hopes to wrap up a sale as early as the first quarter of 2010, a senior executive at the Company's local unit said. BHP Billiton has begun seeking expressions of interest for Maruwai from strategic investors, Edwin Gerungan, president director of BHP Billiton Indonesia, told Dow Jones Newswires. |
BHP Billiton Limited Halts Mining At South Africa Colliery After Fatality-DJ
October 21, 2009 |
| Dow Jones reported that BHP Billiton Limited said that it has suspended opencast mining at its Khutala colliery in South Africa after a worker was killed while driving a light vehicle at the mine. Investigations into the incident are underway and no indication has been given as to how long mining will be halted or the possible affect on production. BHP Billiton said an initial investigation indicates Gregory Goslett, a mining operations supervisor, was fatally injured when a piece of coal from a passing 25-ton truck went through the windscreen of his vehicle early Tuesday. |
Chinese Buyers Eye BHP Billiton Limited 's Ravensthorpe Mine-DJ
October 20, 2009 |
| Dow Jones reported that at least two Chinese groups are among those interested in buying BHP Billiton Limited's Ravensthorpe nickel mine, The Australian reported on its Web site, citing West Australian Premier Colin Barnett. Barnett said he was optimistic the mine would be sold and then reopened, and indicated he would prefer a company other than BHP Billiton take control, the Web site reported. |
JSC MMC Norilsk Nickel And BHP Billiton Limited Plan To Mine Russian Coal From 2015-DJ
October 16, 2009 |
| Dow Jones reported that JSC MMC Norilsk Nickel plans to start mining coal with BHP Billiton Limited in the Russian Arctic from 2015, the first production to result from a three year old alliance between the companies. BHP Billiton will join Norilsk in developing the Syradasai deposit in a project. |
Rio Tinto plc And BHP Billiton Limited Update On Proposed Iron Ore Production Joint Venture
October 15, 2009 |
| Rio Tinto plc and BHP Billiton Limited had signed a non-binding agreement to establish a production joint venture covering the entirety of both companies' Western Australian iron ore assets. Under the terms of the agreement up to 15% of production was proposed to be sold by the joint venture, independent of Rio Tinto and the Company. Following discussions between the two companies, Rio Tinto and the Company have decided not to proceed with the joint venture marketing activity. As a result, all production from the proposed joint venture would be marketed separately by Rio Tinto and the Company. Rio Tinto and the Company are pleased with progress towards definitive JV agreements and expect to finalise these agreements on schedule. |
United Minerals Corporation NL Receives Conditional Cash Offer Of AUD1.30 Per Share From BHP Billiton Limited
October 15, 2009 |
| United Minerals Corporation NL announced that it has received a conditional offer, under which a subsidiary of BHP Billiton Limited proposes to acquire all of the issued shares in UMC via a board recommended Scheme of Arrangement (Scheme). Under the proposed Scheme, the Company will offer UMC shareholders consideration of AUD1.30 cash for each UMC share they own. The transaction values UMC at approximately AUD204 million. The Company has advised UMC that its offer is final in the absence of a competing proposal. The proposal eliminates all project risk for UMC shareholders, offers certain cash in uncertain times and is based on material premiums to historical market prices. |
BHP Billiton Limited's Spence Mine Workers Start Strike In Chile-DJ
October 13, 2009 |
| Dow Jones reported that union workers at BHP Billiton Limited 's Spence copper mine in Chile went on strike after rejecting a wage offer, the union president told Reuters. The stoppage at the mine, which produced 164,761 tonnes of copper cathodes in 2008, could stoke fears of supply disruptions of the red metal and lift copper prices that have seen a steep recovery so far this year. The strike marks the start of difficult labor talks in the copper producer, Chile, as other key mines approach the expiration of their collective contracts with workers. The 560-member union on voted to strike after scraping the Company's final offer that a union leader called insufficient. A steep recovery in copper prices has encouraged mine workers across the globe to demand a bigger share of mining companies' profits and has raised the specter of supply disruptions. |
BHP Billiton Limited in $220 Million Bid For United Minerals Corporation NL-The Australian
October 13, 2009 |
| The Australian reported that BHP Billiton is believed to be in talks to buy United Minerals Corporation NL for about $220 million. BHP is thought to have offered about $1.40 a share for United, a 50% premium to the latest share price of $0.92. It is unclear whether the $1.40 offer will be raised or lowered during negotiations if a deal is reached. |
BHP Billiton Limited's Mining Labor Contracts Due In 2009/2010-Reuters
October 12, 2009 |
| Reuters reported that workers at Chile's Spence copper mine will down tools on Tuesday after they rejected a final contract offer from BHP Billiton Limited. |
BHP Billiton Limited To Close Ravensthorpe Bids Monday-DJ
October 11, 2009 |
| Dow Jones reported that BHP Billiton Limited is understood to be closing the first round of bids for its Ravensthorpe nickel laterite operations Monday, with both Chinese nickel group Jinchuan and Minara Resources Ltd. expected to be included among the bidders, The Australian Financial Review reported in its Street Talk column, without citing sources. |
BHP Billiton Limited's Escondida Mine Offers Workers Early Contract-DJ
October 9, 2009 |
| Dow Jones reported that according to La Tercera newspaper report, Chilean copper mine Escondida, controlled and operated by BHP Billiton Limited offered unionized workers an early contract and benefits package to avoid a possible strike later in the year. The newspaper reported that Escondida offered the 2,250-strong union a 5% wage increase as well as bonuses and an interest-free loan totalling almost $30,000 per worker. Current contracts expire December 5. |
PT Aneka Tambang Tbk May Buy Stake In BHP Billiton Limited's Indonesian Coal Assets-DJ
October 8, 2009 |
| Dow Jones reported that PT Aneka Tambang Tbk is considering acquiring a stake in BHP Billiton Limited's Indonesian coal assets as part of its plan to buy a coal project as early as this year, an executive at PT Aneka Tambang Tbk said. BHP Billiton has said it is considering selling all or part of the Maruwai metallurgical coal project in Central and East Kalimantan. |
BHP Billiton Limited's Spence Copper Mine Workers Extend Mediation Three Days In Chile-DJ
October 7, 2009 |
| Dow Jones reported that Unionized workers and management at BHP Billiton Limited's Spence copper mine in Chile agreed to extend the so-called goodwill government assisted mediation period an additional three business days. If both sides can't hammer out a new contract by the end of the mediation period on Monday, the 560 union members could go on strike early Tuesday. |
PT Tambang Batubara Bukit Asam Tbk Submits Bid To Buy BHP Billiton Limited's Coal Mines-DJ
October 6, 2009 |
| Dow Jones reported that PT Tambang Batubara Bukit Asam Tbk has submitted a bid to acquire BHP Billiton Limited's (BHP) coal mines after the Anglo-Australian company said it may pull out of Indonesia. |
BHP Billiton Limited's Escondida Copper Mine Seeks Early Labor Talks-DJ
October 6, 2009 |
| Dow Jones reported that according to La Tercera newspaper report, management at the BHP Billiton Limited controlled Escondida copper mine in Chile aims to begin contract negotiations with unionized workers ahead of the legally mandated schedule. By starting talks early - the contract expires in December - management is hoping to avert a strike like the month-long walkout seen in the previous negotiations in 2006. People in the mining sector told the newspaper talks hadn't started yet but that Escondida sought to kick off talks with the 2,000 strong union. BHP is currently in the middle of contract negotiations with the union at its Spence copper mine, also located in Chile. The contract expired on September 30. The two sides are currently wrapping up a five-day government-assisted mediation period and if an agreement isn't reached, workers could go on strike Thursday. |
BHP Billiton Limited's Spence Workers To Reject Wage Offer-Reuters
October 6, 2009 |
| Reuters reported that workers at BHP Billiton Limited's Spence copper facility will likely reject a new wage offer and strike, a union leader said, in talks seen as an indicator for upcoming labor negotiations in the Company. Spence workers union spokesman Francisco Aravena told Reuters the Company made a surprise wage offer late on Tuesday amid negotiations mediated by the government. He declined to release the details of the offer until all workers see it. If the majority of Spence's 560 union workers reject the offer they could down tools as soon as on October 8, he said. |
BHP Billiton Limited's Chile Spence Copper Mine Workers Vote In Favor Of Strike-DJ
October 1, 2009 |
| Dow Jones reported that Unionized workers at BHP Billiton Limited's Spence copper mine in Chile unanimoulsy voted in favor of going on strike next week if government mediation fails, according to a union leader. Of the 560 union members at the mine, 523 cast their votes between Monday and Wednesday and all 523 voted for the strike. Following local labor laws, either the union or mine management can now seek a five-day, government-supervised mediation period. BHP Billiton Limited already told they'd be seeking the mediation, union spokesman said, adding the strike could only begin October 8 after mediation has failed. |
BHP Billiton Limited's Spence Mine In Chile To Seek Government Mediation In Contract Talks-DJ
October 1, 2009 |
| Dow Jones reported that management at BHP Billiton Limited's Spence copper mine in Chile will seek a five-day government-supervised mediation period in its contract talks with unionized workers, according to spokesman. Copper workers at several mines are closely following these talks as they could set a precedent for other negotiations scheduled for later in the year, union leaders have said. Earlier the union at the mine unanimously voted in favor of a strike after rejecting the Company's latest contract offer. According to local labor laws, strike could not begin until Oct. 8, following the end of the mediation period. A strike could still be averted as a second five-day mediation period can be sought, but must be agreed to by both sides. Contracts for the 560 unionized workers, which represents about 95% of union-eligible employees and 65% of the total mine workforce, expired Wednesday. Spence workers are seeking a 5.5% wage increase and several other benefits and bonuses. The Company offered a cost-of-living increase and smaller benefits than the workers sought. The open-pit mine, located in northern Chile, produced about 165,000 metric tons of copper cathodes last year. This is Spence's second collective bargaining process as workers negotiated in 2006 before the mine went into production. In addition to Spence, the Company owns the Cerro Colorado mine and controls and operates the Escondida copper mine in Chile. The latter will begin wage negotiations later this year. |
BHP Billiton Limited And Rio Tinto plc Ore Joint Venture May Face Delays On Access, Other Issues-DJ
October 1, 2009 |
| Dow Jones reported that agreement on BHP Billiton Limited and Rio Tinto plc's iron-ore joint venture could face delays due to issues surrounding access, commercial benchmarks and the role of joint venture partners, The Australian Financial Review reported in its Street Talk column, without citing sources. The deadline for a binding agreement is December 5, though this can be extended, the newspaper said on its Web site. |
BHP Billiton Limited Eyes Acquisition Spending Spree-Reuters
September 19, 2009 |
| Reuters reported that BHP Billiton Limited plans to use part of a cash surplus of around $18 billion to fund a round of acquisitions, possibly involving some large rivals, The Wall Street Journal reported. The newspaper quoted BHP Billiton 's Chief Commercial Officer as saying four or five opportunities had been identified, all involving assets in the mining and energy sectors. Around $10 billion had been set aside for development of existing projects and initiating new ones in the current fiscal year, which ends in June 2010. A separate undisclosed amount had been set aside for acquisitions. |
BHP Billiton Limited Agrees To Newcastle Coal Port Restructuring Plan-Reuters
September 18, 2009 |
| Reuters reported that a group of coal miners led by BHP Billiton Limited have agreed on a restructuring plan for Australia Newcastle port, a coal terminal, paving the way for a significant boost in exports over the next decade. The deal means new producers, such as China's Shenhua Energy, are now assured of port access to export their coal, and coal exports from the terminal could double to 180 million tonnes by 2015. BHP and the New South Wales state government said they have agreed on a long-term port sharing agreement, which will see miners sign 10 year rolling agreements based on forecast export volumes shipped out of the port, replacing the current one year contracts. Under the agreement, the BHP-led producer group, known as the Newcastle Coal Industry Group (NCIG), will build a new coal terminal in the port which will boost Newcastle's annual export capacity by 30 million tonnes by the first quarter of 2010 and a further expansion to 66 million tonnes at a later date. The state government said the agreement will support AUD5 billion ($4.35 billion) worth of investment in new port and rail infrastructure over the next four years, with coal exports expected to double to 180 million tonnes over the next six years. The port restructuring plan will be signed off by the government and export terminal operators next week. |
BHP Billiton Limited Eyes Joint Venture For Indonesia Coal-Reuters
September 16, 2009 |
| Reuters reported that BHP Billiton Limited may opt to sell part of its stake in its Indonesian coal project on Borneo island and form a joint-venture with other investors to run the project. In June, BHP Billiton said it would not go ahead with the Haju trial coal mine in Central Kalimantan because it did not fit with its long-term investment strategy. |
BHP Billiton Limited Signs Long Term Iron Ore Pact With Hyundai Steel Co.-DJ
September 10, 2009 |
| Dow Jones reported that BHP Billiton Limited has signed a long-term iron ore supply agreement with South Korean steelmaker Hyundai Steel Co. for an eight year period covering 22 million metric tons. The contract is to take effect this year. |
BHP Billiton Limited Declares Final Dividend
August 31, 2009 |
| BHP Billiton Limited announced that the Directors have declared a final dividend of ZAR3.18328100 per ordinary share payable on September 25, 2009 to ordinary shareholders, recorded in the books of the company at the close of business on September 4, 2009. |
Workers At BHP Billiton Limited's Hotazel Manganese Mines Launches Strike-DJ
August 28, 2009 |
| Dow Jones reported that workers at Hotazel Manganese Mines in South Africa, a subsidiary of BHP Billiton Limited's Samancor Manganese, launched a strike after wage negotiations became deadlocked. Hotazel employs some 899 permanent employees, 38 temporary workers and 970 contractors. |
BHP Billiton Limited Cuts 70 Jobs At Australia Nickel Mine-Reuters
August 25, 2009 |
| Reuters reported that BHP Billiton Limited will cut up to 70 jobs at its Mt Keith nickel mine in Australia to ensure the operation's viability. |
BHP Billiton Limited Faces Strike Over Wages In South Africa-DJ
August 25, 2009 |
| Dow Jones reported that BHP Billiton Limited's Meyerton alloys operation will put down their tools, to put pressure on the Company to raise wages. Numsa is demanding an 8.8% increase in pay for its members, but said BHP Billiton has only offered 2%. |
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