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%

Citigroup comment on the sector:
"A Bullish Stance — We move our 12-month sector stance to Bullish, from Neutral, our first bullish call in three years; key picks are BHP Billiton, Rio Tinto and Glencore-Xstrata. While we remain concerned about the potential long-term structural demand story for commodities in China, and we are cognisant of a potential seasonal slowdown in the first quarter of this year, our move to bullish reflects better bottom-up fundamentals, particularly from the major miners. We would rather be too early than too late in making this call.
We have Sell ratings on Antofagasta, First Quantum, Nyrstar, New World Resources, African Barrick, Assore, Fresnillo, Hochschild, Petropavlovsk and Randgold Resources. We remain underweight the gold and base metals stocks, and our least favoured large-cap miner is Anglo American."

OPERATIONAL REVIEW-HALF YEAR ENDED 31 DEC 2013

BHP BILLITON OPERATIONAL REVIEW FOR THE HALF YEAR ENDED 31 DECEMBER 2013

· Strong operating performance in the December 2013 half year with production records achieved across 10 operations and three commodities. Full year production guidance maintained for our Petroleum, Copper, Iron Ore and Coal businesses.

· Western Australia Iron Ore achieved record production of 108 million tonnes (100% basis) for the December 2013 half year as the operation benefited from the early delivery of first production from the Jimblebar mine.

· Queensland Coal achieved record production for the December 2013 half year as several productivity initiatives increased annualised production to 68 million tonnes (100% basis) in the December 2013 quarter.

· Petroleum liquids production increased by 9% to 50 million barrels of oil equivalent in the December 2013 half year, underpinned by a 72% increase at Onshore US.

· Another two major projects delivered first production in the December 2013 quarter and all remaining projects are on schedule and budget.

· BHP Billiton's share of capital and exploration expenditure for the 2014 financial year is expected to be US$16.1 billion(i), as planned.

BHP BILLITON RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2013

§ A substantial improvement in productivity and additional volume from our low risk, largely brownfield investment program contributed to a significant increase in profitability in the December 2013 half year.

§ Underlying EBIT(1) increased by 15% to US$12.4 billion and Underlying attributable profit(1)(2) increased by 31% to US$7.8 billion.

§ The commitment we made 18 months ago to deliver more from existing infrastructure at a lower unit cost is delivering tangible results with annualised productivity led volume and cost efficiencies totalling US$4.9 billion(3) now embedded.

§ This sustainable increase in productivity supported a 9% increase in the Group's Underlying EBIT margin(2) to 38% and a strong improvement in the Group's Underlying return on capital(2) to 22%(4).

§ A 65% increase in net operating cash flow and a 25% reduction in cash outflows from investing activities led to a US$7.8 billion(5) increase in free cash flow(2).

§ Our progressive base dividend, which increased by 3.5% to 59 US cents per share, is comfortably covered by internal cash flow.

§ Proceeds of US$2.2 billion(6) from portfolio simplification further strengthened the Group's solid A balance sheet.

§ With strong free cash flow projected, net debt(2) of US$27.1 billion is expected to approach US$25 billion by the end of the 2014 financial year.

§ We are well placed to extend our strong track record of capital management.

BLT
a strong looking signal, and not without reason

Summary from the UBS note today:
"Diversified miners: we prefer BHP Billiton and Rio Tinto over Anglo American and Glencore. In our opinion, BHP and Rio Tinto are well positioned to improve free cash flow by cutting capex/ costs and delivering high quality volume growth. We expect BHP to be the first diversified miner to increase returns though a buy-back (expected in Aug-14), while, in our opinion, Rio Tinto offers a more attractive free cash flow profile medium-term. We also see potential for BHP to crystallize some hidden value by spinning out its non-core assets over the next 12 months. We are attracted by the restructuring potential at Anglo American, in particular in the Platinum division, and believe that Minas Rio is finally on track to start up at the end of 2014. In our opinion, Glencore has the most dynamic management team, though we maintain a Neutral rating on the stock due to valuation and our cautious outlook on its key commodities (copper, coal). We see the sale of Las Bambas as a potential positive catalyst near-term, as well as the improving outlook for nickel/ zinc.
Mid-caps: we remain cautious on all the UK mid-cap bulk/ base metal producers mining companies under coverage due to valuation (Antofagasta), free cash flow and restructuring uncertainty (Kazakhmys), and the political risk in the Ukraine (Ferrexpo). We prefer the low-cost precious metal producers (Fresnillo, Randgold) and those which will improve free cash flow by cutting capex and improving operational performance (Polymetal)."

worth a punt i think as sp pops back up through 200 dma ...

so popped back in at 1881.5

Never traded this one before cynic, MACD needs to turn up sharpish but hopefully that will occur with volume if your right. In @ 1887.9 tight stop (27 pips)

That's me stopped out cynic, back on watch list till back above 200DAM.

rarely do stops so i'm happy to stay put

what do i know about charts?
bugger all, but others who do may have something to say

They are big big in Iron ore - Iron ore price is weak at moment - I think no rush to buy BLT just yet _ FXPO also down massively with Ukraine problem and weak iron ore price demand. Suppose BAO is down also, but have not checked - no world shortages of iron ore. Be wary "Beware the ides of March".

the good thing about BLT is that it has a very wide portfolio, which is why it has appeal to me

Still sitting on my hands cynic, new to me. If or when volume improves may have another dabble.

That's the 200DMA banjaxed, if it doesn't bounce from here 1800ish would be a tempting entry point.

That's the 200DMA banjaxed, if it doesn't bounce from here 1800ish would be a tempting entry point.

i trade this rather than hold long term, and so far it has always treated me well - more than can said for some other little gems

StockMarketWire.com
BHP Billiton reports a strong operating performance with a 9% increase in group production and annual records achieved across 12 operations and four commodities.

Western Australia Iron Ore achieved a 14th consecutive annual production record as volumes increased to 225 Mt (100% basis), significantly exceeding initial full-year guidance. We now expect production of 245 Mt (100% basis) from the Pilbara in the 2015 financial year.

· Metallurgical coal production of 45 Mt exceeded full-year guidance as Queensland Coal achieved record production and sales volumes.

· Copper production increased to 1.7 Mt as an improvement in mill throughput and concentrator utilisation offset grade decline at a number of operations.

· Petroleum production increased by 4% to a record 246 MMboe with an 18% increase in liquids volumes underpinned by significant growth at Onshore US and Atlantis.

· Six major projects were completed and another two projects achieved first production, including the Caval Ridge coal mine which was completed ahead of schedule and under budget in the June 2014 quarter.

Chief executive Andrew Mackenzie said: "Our focus on productivity has resulted in a significant improvement in operating performance at each of our major businesses this year, with a nine per cent(1) increase in Group production and record output at 12 operations. Western Australia Iron Ore and Queensland Coal annual production exceeded guidance, with both rising by more than 20 per cent as we delivered more tonnes from existing infrastructure and growth projects ahead of schedule.

"At Escondida, an increase in mill throughput and concentrator utilisation offset copper grade decline, while our Onshore US business delivered a 73 per cent increase in petroleum liquids production.

"We expect to maintain strong momentum and remain on track to generate Group production growth of 16 per cent(1) over the two years to the end of the 2015 financial year. In Petroleum, we are investing in our highest-return acreage while a broader improvement in productivity is expected to underpin stronger iron ore, copper and metallurgical coal volumes. We will remain focused on value over volume as we prioritise our brownfield development options and consider the next phase of portfolio simplification."

(Reuters) - Diversified mining company BHP Billiton declared its preference for a demerger of its aluminium, manganese and nickel assets on Friday, setting the stage for the formation of a separate business that could be worth at least $12 billion (7 billion pounds).

BHP (BHP.AX) (BLT.L) said its board was considering a spin-off at meetings ahead of its annual results announcement next week. An Australian newspaper said those plans were well advanced and would include the Nickel West business that the world's biggest miner has been trying to sell.

"A demerger of a selection of assets is our preferred option," the company, which has a market capitalisation of $185 billion, said in a statement to the Australian stock exchange.

BHP has long aimed to sell or spin off its manganese, aluminium and nickel assets, which contribute little to its earnings. Simplifying the company would "generate stronger growth in cash flow and a superior return on investment", it said on Friday.

Some of the largest shareholders in BHP welcomed the announcement.

"It’s good to see BHP taking the lead in the sector on this. It reassures you as a shareholder. It makes me more willing to have it as a significant bet within my fund," said Christopher Moore, portfolio manager of Fidelity Global Industrials Fund.

"Really we should see more of this in the mining sector. I would expect others to take BHP’s lead. Rio Tinto, Anglo American could also follow suit in doing this."

BHP's rivals Anglo American (AAL.L) and Rio Tinto (RIO.L) (RIO.AX) have both said they would focus on the parts of their portfolio that can deliver higher return.

BHP is likely to offload between $1.0-2.7 billion of its debt to the new vehicle, according to analysts. Any more than that could be challenging to handle for a company that relies on assets whose profitability can be volatile.

Its net debt as of Dec. 30 was $27.1 billion.

BHP BILLITON RESULTS FOR THE YEAR ENDED 30 JUNE 2014

· BHP Billiton reported a record low Total Recordable Injury Frequency of 4.2 per million hours worked and we suffered no fatalities during the period. While this is an encouraging result, our efforts to protect the health and safety of our people will be unrelenting.
· A significant improvement in productivity underpinned strong financial performance as Underlying attributable profit(1)(2) increased by 10% to US$13.4 billion. We embedded productivity-led volume and cost efficiencies(3) of US$2.9 billion, exceeding our target by 61% or US$1.1 billion. This means we have now delivered more than US$6.6 billion of sustainable productivity-led gains over the last two years.
· By further improving productivity and reducing our capital and exploration expenditure(4) by 32% to US$15.2 billion we delivered a substantial US$8.1 billion increase in free cash flow(2), despite weaker commodity prices. As a result, our balance sheet continued to strengthen and we finished the period with net debt(2) of US$25.8 billion.
· We have also announced plans to create an independent global metals and mining company via a demerger. With a simpler portfolio(5), we are targeting at least another US$3.5 billion of productivity‑related gains(6) by the end of the 2017 financial year.
· Capital and exploration expenditure(4) is expected to decline to approximately US$14.8 billion in the 2015 financial year and be no more than US$14 billion should the proposed demerger be implemented. By maintaining an internal focus and concentrating investment in our major basins we believe an average rate of return of greater than 20% is achievable for our favoured development options.
· With robust volume growth and further productivity gains expected, we remain confident in the outlook for the Group. On this basis, we increased our full-year progressive base dividend by 4% to 121 US cents per share for an Underlying payout ratio(7) of 48%. We will seek to steadily increase or at least maintain the dividend per share in US dollar terms at each half-yearly payment following the demerger, implying a higher payout ratio.
· We will return excess cash to shareholders in the most efficient way. By ensuring that we start from a position of strength, we will be well placed to implement an enduring program that can be managed in a more consistent and predictable manner.

StockMarketWire.com
BHP Billiton's group production increased by 9% during the three months to the end of September with records achieved for eight operations and four commodities.

The group says it is on track to deliver production growth of 16% over the two years to the end of the 2015 financial year and its guidance remains unchanged.

Metallurgical coal production increased by 25% to 13 Mt as Queensland Coal achieved record quarterly production and sales volumes.

Western Australia Iron Ore production increased by 15% to a quarterly record of 62 Mt (100% basis) as the ramp-up of Jimblebar continued ahead of schedule and the group improved the availability, utilisation and rate of its integrated supply chain.

Petroleum production increased by 7% to 67.4 MMboe as Onshore US liquids volumes rose by 49% to a record 11.5 MMboe.

Total copper production decreased by 1% to 389 kt as lower ore grades, a power outage throughout northern Chile and industrial action offset strong underlying operating performance at Escondida.

BHP Billiton chief executive Andrew Mackenzie said: "Robust operating performance across our diversified portfolio in the September 2014 quarter delivered a nine per cent increase in production with records achieved for eight operations and four commodities. With production guidance maintained across all operations and businesses, we remain on track to generate Group production growth of 16% over the two years to the end of the 2015 financial year.

"Our relentless focus on productivity continues to yield strong results. At Western Australia Iron Ore, we have completed our major supply chain investments and, for the first time in a decade, we have no major projects in execution.

With our focus now on maximising the value of existing infrastructure, we plan to reduce costs and invest judiciously in very low capital cost debottlenecking initiatives. These plans are expected to increase total supply chain capacity to 290 Mtpa by the end of the 2017 financial year and reduce unit costs by at least 25% to less than US$20 per tonne. When combined with other initiatives across our portfolio we are very well positioned to reduce cash costs by more than US$2.3bn and deliver volume-related productivity gains of at least US$1.2bn by the end of the 2017 financial year."