OREANDA-NEWS. July 20, 2012. This report covers the Group’s exploration and development activities for the June 2012 quarter, reported the press-centre of BHP Billiton. 

Unless otherwise stated, BHP Billiton’s interest in the projects referred to in this report is 100 per cent and references to project schedules are based on calendar years.

Development
BHP Billiton’s proven strategy to invest in large, long life, low cost, expandable, upstream assets, diversified by commodity, geography and market ensures we are well positioned to maintain strong momentum and returns in our major businesses, despite significant volatility in the external environment.

In the 2012 financial year, six major projects delivered first production while a total investment commitment of USD 7.5 billion (BHP Billiton share) enabled another eight major projects to move into execution. In addition, USD 2.7 billion (BHP Billiton share) of pre-commitment funding was approved to further progress a series of development options.

The six projects to deliver first production included: Western Australia Iron Ore (WAIO) Rapid Growth Project 5 (iron ore); Antamina Expansion and Escondida Ore Access (both copper); Worsley Efficiency & Growth (alumina);

North West Shelf CWLH Life Extension (oil); and the RX1 Project (energy coal). The Antamina Expansion, Escondida Ore Access and RX1 projects will not be reported in future Exploration and Development Reports.

The eight projects that moved into execution span the ferrous, non-ferrous and energy product groups and included: WAIO Orebody 24 (iron ore); Caval Ridge and Appin Area 9 (both metallurgical coal); Escondida Organic Growth Project 1 and Escondida Oxide Leach Area Project (both copper); North West Shelf Greater Western Flank-A (LNG); Cerrejon P40 Project and the Newcastle Third Port Project Stage 3 (both energy coal).

During the June 2012 quarter, BHP Billiton announced approval of the Illawarra Coal Appin Area 9 project and precommitment funding of USD 708 million (BHP Billiton share) for the Mad Dog Phase 2 project in the deepwater Gulf of Mexico (oil and gas).

BHP Billiton’s Onshore US drilling and development expenditure totaled USD 3.3 billion in the 2012 financial year.

Full reports see here:
http://www.bhpbilliton.com/home/investors/reports/Documents/2012/120718_BHP%20Billiton%20Exploration%20and%20Development%20Report%20for%20the%20Year%20Ended%2030%20June%202012.pdf