Company is the worlds largest diversified resources group. It has seven divisions: Petroleum, Aluminium, Base Metals, Carbon Steel materials, Diamonds and speciality products, Energy coal and Stainless steel materials.

            Red = 25 day moving average.           Green = 200 day moving average.

SALES PER ACTIVITY (Data as of 30/06/2006)

Carbon steel:   28%
Oil:                18%
Aluminum:       15%
Basic metals:   15%
Coal:               9%
Stainless steel: 9%
:                    3%
Diamonds,
minerals, etc:   3%

Nomura today downgrades its investment rating on BHP Billiton PLC (LON:BLT) to neutral (from buy) and cut its price target to 850p (from 950p).

Deutsche Bank today reaffirms its hold investment rating on BHP Billiton PLC (LON:BLT) and cut its price target to 900p (from 950p).

Deutsche Bank today reaffirms its hold investment rating on BHP Billiton PLC (LON:BLT) and cut its price target to 880p (from 900p).

StockMarketWire.com
Brazil's Federal Public Prosecution Service is seeking BRL155bn - $43bn at current exchange rates - compensation from the BHP Billiton Brasil-Samarco joint venture for the failure of the Fundao tailings dam in November.

BHP Billiton says the Federal Public Prosecution Service has announced it has started proceedings for social, environmental and economic compensation.

BHP Billiton says it has not received formal notice of the claim and adds that it remains committed to helping Samarco to rebuild the community and restore the environment affected by the failure of the dam.

Macquarie today reaffirms its underperform investment rating on BHP Billiton PLC (LON:BLT) and set its price target at 700p.

Barclays Capital today reaffirms its equal weight investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 925p (from 875p).

Tailings Dam - surely this was a design agreed with the local government AND National Government - were their Inspectors asleep on the job - OR - was there a geo-fault that went un-noticed?
Still, I guess If BHP-Billiton wants to remain operational there - then they have to bend to ..... whatever is thrown at them.
The Legal Costs/Fines are probably "Bad enough" - but when it comes to repairing the Dam the construction cost is likely to be much greater, allowing for more-detailed investigations + Safety provisions, etc.
+ Strikes me that this will be Damn costly . . . . .

Jefferies International today reaffirms its hold investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 900p (from 800p).

Credit Suisse today reaffirms its outperform investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 1150p (from 1050p).

StockMarketWire.com
BHP Billiton posts losses from operations of $6.2bn for the year to the end of June compared with a profit of $8.7bn in 2015.

The company said it had been a challenging 12 months for the company and the industry.

It said response efforts at Samarco continue with good progress being made on community resettlement, community health and environment restoration.

The company said there were no fatalities at its operated sites in the 2016 financial year.

It reports underlying EBITDA of US$12.3 billion (down from $11.9bn) and an underlying EBITDA margin of 41%, despite weaker commodity prices which had a negative impact of US$10.7 billion.

Productivity gains of US$437 million were achieved for the period and the company says it remains on track for US$2.2 billion of gains over the two years to the end of the 2017 financial year.

Conventional petroleum, grade-adjusted Escondida, Western Australia Iron Ore and Queensland Coal unit cash costs(4) declined by 30%, 22%, 19% and 15% respectively.

Other highlights:
- Capital and exploration expenditure declined by 42% to US$6.4 billion and is expected to decrease further to US$5.0 billion in the 2017 financial year (BHP Billiton share). On a cash basis, capital and exploration expenditure was US$7.7 billion and is forecast to decline to US$5.4 billion in the 2017 financial year.

- Reduction in operating costs, it says the "flexibility in our investment programme and a targeted reduction of working capital supported free cash flow of US$3.4 billion".

- Balance sheet remains strong, with net debt of US$26.1 billion broadly unchanged from December 2015.

- The Board has determined to pay a final dividend of 14 US cents per share, which is covered by free cash flow generated in the current period. In accordance with the Group's dividend policy, this comprises the minimum payout of 8 US cents per share and an additional amount of 6 US cents per share, reflecting continued balance sheet strength and strong free cash flow during the period.

Chief Executive Officer, Andrew Mackenzie, said: "The last 12 months have been challenging for both BHP Billiton and the resources industry. Nevertheless, our results demonstrate the resilience of our portfolio and the diverse ways in which we can create value for shareholders despite low commodity prices. Unit cash costs across the Group declined 16 per cent and with increased capital efficiency, supported free cash flow generation of US$3.4 billion despite weaker commodity prices.

"Next year, we expect another US$1.8 billion of productivity gains as our new Operating Model helps sustain momentum, delivering more than US$7 billion of free cash flow based on current spot prices and a forecast reduction in net debt.

"The strength of our cash flow generation and balance sheet is reflected in the final dividend of 14 US cents per share, which comprises the minimum implied by our payout ratio and a top up from excess cash in line with the capital allocation framework. We continue to pursue capital-efficient latent capacity opportunities which will support volume growth of up to four per cent next year, excluding our Onshore US assets where we continue to defer activity to maximise value. In addition, we have progressed high-return growth projects, with investment decisions on the Mad Dog 2 and Spence Growth Option projects expected by the end of next calendar year.

"Over the past five years we have actively reshaped our portfolio, and we are confident we have the right mix of commodities, assets and opportunities to create substantial value over time. While commodity prices are expected to remain low and volatile in the short to medium term, we are confident in the long-term outlook for our commodities, particularly oil and copper."

In relation to Samarco, he added: "All of us at BHP Billiton remain deeply saddened by the Samarco tragedy. The Company is fully committed to the Framework Agreement and its programs to remediate and compensate for the impacts of the Samarco dam failure. Good progress is being made on community resettlement, community health and environment restoration."

Liberum Capital Sell 1,071.00 665.00 665.00 Reiterates

Jefferies International today upgrades its investment rating on BHP Billiton PLC (LON:BLT) to buy (from hold) and raised its price target to 1250p (from 1100p).

StockMarketWire.com
BHP Billiton says all production and unit cost guidance remains unchanged for the 2017 financial year.

But guidance for Olympic Dam is under review following a state-wide power outage in South Australia.

An operation review says good progress continues on the group's capital-efficient latent capacity options with the ramp-up of the Spence Recovery Optimisation project and additional capacity at Jimblebar during the period, and first production from the Los Colorados Extension project anticipated late in the 2017 financial year.

Other key points:

- All four major projects under development are tracking to plan.

- In Petroleum, positive drilling results were reported following the discovery of oil in multiple horizons at the Caicos exploration well in the Gulf of Mexico.

- The group continues to optimise its portfolio of high-quality assets with the announced sale of 50 per cent of its interest in the undeveloped Scarborough area gas fields and completion of the IndoMet Coal and Navajo Coal divestments. It also entered into an agreement with the New South Wales Government to cease progression of the Caroona Coal project.

Chief executive Andrew Mackenzie, said: "Full year production and unit cost guidance remains unchanged. Safety and productivity continue to improve with our new operating model helping us identify and replicate best practice more quickly.

"We have seen early signs of markets rebalancing. Fundamentals suggest both oil and gas markets will improve over the next 12 to 18 months.

"Iron ore and metallurgical coal prices have been stronger than expected, although we continue to expect supply to grow more quickly than demand in the near term. Together, the combination of steadier markets, continued capital discipline, improved productivity and increased volumes in copper, iron ore and metallurgical coal should further support strong free cash flow generation this financial year."

Exane BNP Paribas today reaffirms its neutral investment rating on BHP Billiton PLC (LON:BLT) and set its price target at 1268p

StockMarketWire.com
BHP Billiton submitted the winning bid to acquire a 60% participating interest in and operatorship of blocks AE-0092 and AE-0093 containing the Trion discovery located offshore Mexico.

PEMEX Exploration & Production Mexico will retain a 40% interest in the blocks.

Pemex estimates the gross recoverable resource to be 485 MMboe. Subject to satisfaction of conditions (including the obtaining of government approvals), it is anticipated that the relevant agreements would be finalised and signed within 90 days.

BHP Billiton's bid for Trion includes an upfront cash payment of US$62.4 million and a commitment to a minimum work programme (estimated to be up to a maximum of US$320m).

If BHP Billiton and Pemex agree to progress the project beyond the minimum work programme, BHP Billiton would be required to invest the remainder of the US$570m minimum work contribution (which includes the minimum work programme spend) and a US$624m cash contribution (which comprises the upfront cash payment of US$62.4m already paid and the balance of US$561.6 million as a future carry for Pemex).

BHP Billiton's bid also includes a commitment to an additional royalty of 4%.

BHP Billiton president operations petroleum, Steve Pastor, said "We see attractive potential in Trion and the Perdido trend, and we are pleased to have the opportunity to further appraise and potentially develop this prospective frontier area of the deepwater Gulf of Mexico.

"This opportunity aligns with our strategy of owning and operating Tier-1 assets and provides an opportunity for BHP Billiton to leverage its industry leading deep-water drilling, development and operational expertise to create value in Mexico."

Jefferies International today reaffirms its buy investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 1750p (from 1700p).

Barclays Capital today (09/01/17) reaffirms its equal weight investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 1385p (from 1175p).

StockMarketWire.com
BHP Billiton has maintained full year production guidance for petroleum, iron ore and coal and said record production for the half year was achieved at Western Australia Iron Ore.

But production guidance for copper has been reduced to approximately 1.62 Mt, 2% below prior guidance, reflecting lower volumes now expected at Olympic Dam.

The group said all major projects under development were tracking to plan.

The Bass Strait Longford Gas Conditioning Plant project achieved initial gas sales in the December 2016 quarter and mechanical completion was achieved at the Escondida Water Supply project with first water expected in the March 2017 quarter.

Chief executive Andrew Mackenzie said: "We have performed well during a period of higher prices, with record iron ore volumes achieved at WAIO.

"Our simpler organisational structure has freed our assets to focus on what matters most and to deliver safer and more productive operations.

"Our consistent delivery of operating and capital productivity, and strict adherence to our capital allocation framework have positioned us to maximise shareholder value.

"In Petroleum, we will accelerate our counter-cyclical oil exploration efforts this year.

"Our successful Trion bid leaves us in a leading position to develop the newly opened Mexican acreage in the Gulf of Mexico, where we can leverage our core expertise.

"We are encouraged by recent positive drilling results at the LeClerc well in Trinidad and Tobago and the Caicos well in the Gulf of Mexico.

"After the first successful rig, our Onshore US gas hedging programme will also be expanded to secure attractive returns."

StockMarketWire.com
BHP Billiton's board has approved expenditure of US$2.2bn for its share of the development of the Mad Dog phase 2 project in the Gulf of Mexico.

BHP Billiton holds a 23.9% participating interest in the Mad Dog field. BP, the operator, holds a 60.5% participating interest, and Union Oil Company of California, an affiliate of Chevron USA Inc., holds the remaining 15.6% participating interest.

During the fourth quarter of 2016, BP sanctioned the Mad Dog Phase 2 project.

Mad Dog Phase 2, located in the Green Canyon area in the Deepwater Gulf of Mexico, is a southern and southwestern extension of the existing Mad Dog field.

The project includes a new floating production facility with the capacity to produce up to 140,000 gross barrels of crude oil per day from up to 14 production wells.

Production is expected to begin in the 2022 financial year.

Haitong Securities today reaffirms its sell investment rating on BHP Billiton PLC (LON:BLT) and raised its price target to 1110p (from 1050p).

StockMarketWire.com
BHP Billiton's underlying earnings before interest, tax, depreciation and amortisation rose by 65% to US$9.9bn in the six months to the end of December.

The group posts a profit from operations of $6,057m against a loss of $7,030m last time and an attributable profit of $3,204m against a loss of $5,669m in 2015.

The interim dividend of 40 US cents per share is is up from 16.0 cents in 2015.

Chief executive Andrew Mackenzie said: "This is a strong result that follows several years of a considered and deliberate approach to improve productivity and redesign our portfolio and operating model.

"Our steadfast commitment to this plan has positioned us to take full advantage in a period of higher prices with Underlying EBITDA up 65 per cent to US$9.9 billion.

"The demerger of South32 and over US$7 billion of asset sales have shaped a portfolio that is now true to its strategy.

"Our assets are large, long-life and low-cost and provide exposure to a diverse mix of commodities with an attractive outlook.

"Our new operating model has sharpened the focus of our operations on the things that matter most: safety, volume and cost.

"A decline in unit costs at our major assets supported US$1.2 billion of productivity gains in the half, which follows the US$11 billion of annualised gains embedded over the last four years.

"Greater productivity and increased capital efficiency supported strong free cash flow generation of US$5.8 billion. Strict adherence to our capital allocation framework has maximised the use of this cash.

"We have strengthened our balance sheet, with net debt falling sharply to close the period at US$20.1 billion.

"As we further strengthen the balance sheet our ability to invest counter-cyclically will only be enhanced. Our minimum 50 per cent dividend payout policy equates to 30 US cents per share.

"In recognition of the importance of shareholder returns and confidence in the Company's performance, the Board has determined to pay an additional amount of 10 US cents per share, taking the overall interim dividend to 40 US cents per share.

"We are confident in the long-term outlook for our commodities, particularly oil, with markets expected to rebalance in the near-term, and copper where we expect a deficit to emerge in the early 2020s.

"We have the right settings in place to substantially grow shareholder value.

"The health and safety of our people and the communities in which we operate always come first.

"Health and safety are core to our values and we are committed to providing a safe workplace. BHP Billiton reported a record low Total Recordable Injury Frequency of 3.9 per million hours worked in the December 2016 half year.

"Despite the improvement in safety performance indicators, tragically one of our colleagues died at Escondida in October 2016."

BHP Billiton also announced today that the board has approved a bond repurchase plan of up to US$2.5 billion.

The plan will target 2018, 2019, 2021, 2022 and 2023 US dollar denominated notes and be funded by BHP Billiton's strong US$14 billion cash position.

Early repayment of these bonds will extend the Group's average debt maturity profile and enhance BHP Billiton's capital structure.