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BIL - BHP Billiton Finance Plc - BHP Billiton approves Caval Ridge Mine project BHP Billiton Finance Plc Share code: BIL ISIN: GB0000566504 NEWS RELEASE Release IMMEDIATE Time Date 1 NOVEMBER 2011 Number 30/11 BHP BILLITON APPROVES CAVAL RIDGE MINE PROJECT BHP Billiton today approved development of the Caval Ridge Mine project and expansion of the Peak Downs Mine in the northern Bowen Basin in Central Queensland, Australia. The initial project will add 8 million tonnes per year capacity (100 per cent basis) in export metallurgical coal, with the expectation of a rapid, low cost expansion to 10 million tonnes per year. This additional 2 million tonnes per year will only require the addition of mining equipment. This expansion has not yet been permitted. The total investment in the initial project is US$4.2 billion, of which BHP Billiton`s share is US$2.1 billion. The resource life of the initial project is expected to be greater than 60 years1. First coal is expected in calendar year 2014. The new Caval Ridge Mine will have the capacity to produce 5.5 million tonnes per year. The Peak Downs Mine will expand production by 2.5 million tonnes per year. The investment will include construction of a new coal handling and preparation plant at Caval Ridge to process production from the Caval Ridge Mine and Peak Downs expansion. Coal from the Peak Downs expansion will be transported by conveyor to the new plant. The Peak Downs Mine lies to the immediate south of the new Caval Ridge Mine. The Caval Ridge Mine will be an open cut dragline and truck and shovel operation, with coal railed to the BHP Billiton Mitsubishi Alliance (BMA) Hay Point Coal Terminal. The project has received all necessary regulatory approvals. BHP Billiton Metallurgical Coal President, Hubie van Dalsen, said: "This investment in the Caval Ridge Mine was foreshadowed in March of this year when BHP Billiton announced investments in the new 4.5 million tonne per year Daunia mine, the life extension of the Broadmeadow mine and the 11 million tonne per year expansion of the Hay Point Coal Terminal. "This is a continuation of BHP Billiton`s strategy of investing in large, low cost, expandable mines with long lives. Additional expansion projects are being advanced to follow this investment in due course," he said. Background notes BMA is a 50/50 joint venture between BHP Billiton and Mitsubishi Development Pty Ltd. BMA owns and operates seven mines in the Bowen Basin - Goonyella Riverside, Broadmeadow, Peak Downs, Saraji, Norwich Park, Gregory Crinum and Blackwater - together with the Hay Point Coal Terminal. Further information on BHP Billiton can be found at: www.bhpbilliton.com Sponsor: Absa Capital (the investment banking division of Absa Bank Limited, affiliated with Barclays Capital) Media Relations Investor Relations Australia Australia Samantha Stevens James Agar Tel: +61 3 9609 2898 Tel: +61 3 9609 2222 Mobile: +61 400 693 915 Mobile: +61 467 807 064 email: email: James.Agar@bhpbilliton.com Samantha.Stevens@bhpbilliton.com Andrew Gunn Kelly Quirke Tel: +61 3 9609 3575 Tel: +61 3 9609 2896 Mobile: +61 439 558 454 Mobile: +61 429 966 312 email: Andrew.Gunn@bhpbilliton.com email: Kelly.Quirke@bhpbilliton.com United Kingdom and South Africa
Fiona Martin Tel: +61 3 9609 2211 Brendan Harris Mobile: +61 427 777 908 Tel: +44 20 7802 4131 email: Fiona.Martin2@bhpbilliton.com Mobile: +44 7990 527 726 United Kingdom and Americas email: Brendan.Harris@bhpbilliton.com Ruban Yogarajah Americas Tel: US +1 713 966 2907 or UK +44 20 7802 4033 Scott Espenshade Mobile: UK +44 7827 082 022 Tel: +1 713 599 6431 email: Mobile: +1 713 208 8565 Ruban.Yogarajah@bhpbilliton.com email: Scott.Espenshade@bhpbilliton.com BHP Billiton Limited BHP Billiton Plc Registration number ABN 49 004 028 077 3196209 Registered in Australia Registered in England and Wales Registered Office: 180 Lonsdale Registered Office: Neathouse Place Street London SW1V 1BH United Kingdom Melbourne Victoria 3000 Australia Tel +44 20 7802 4000 Tel +61 1300 55 4757 Fax +44 20 7802 4111 Fax +61 3 9609 3015 Members of the BHP Billiton Group which is headquartered in Australia 1. The Resource Life is estimated from the Caval Ridge resource base (767Mt) divided by the approved production rate of 5.5Mtpa, factored up by coal preparation plant recovery (60%) and mining recovery (90%). The Caval Ridge Resource is incorporated into the Peak Downs Mineral Resource reported as of 30 June 2011 composed of: Measured Resource 697Mt; Indicated Resource 875Mt , Inferred Resource 572Mt on a 100% basis (BHP Billiton interest is 50%) and should be read together with and subject to, the notes set out in the FY11 Annual Report, which can be found at www.bhpbilliton.com. This information is reported under the `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2004` (the JORC Code) by the Competent Persons S Martinez (MAusIMM) and J Centofanti (MAusIMM) who are employed by BHP Billiton and have the required qualifications and experience to estimate and report Mineral Resources under the JORC Code. The Competent Persons verify that this report is based on and fairly reflects,the Mineral Resource information in the supporting documentation and agree with the form and context of the information presented. Date: 01/11/2011 07:06:26 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
