BHP Billiton
BHP Billiton (ASX:BHP) is a global leader in the resources industry.
Formed from a merger between BHP and Billiton, the company is a leader in the extraction and sales of most natural resources, and is particularily strong in Iron Ore, Coking and Thermal Coal, Copper, Zinc, Oil & Gas, Diamonds and most materials key to the production of steel.
BHP Billiton agrees on 58% cut in coal price
As partially reported by Dow Jones Newswires, BHP Billiton (ASX: BHP) has agreed to cut contract prices for metallurgical coal by 58 per cent with a large number of its customers. This coal is used in the production of steel.
"Terms for a significant portion of 2009 BHP Billiton metallurgical coal contracts have been concluded following settlements with key global customers," BHP Billiton said today.
"Based on settlements to date, US dollar (freight on board) prices for prime metallurgical coal products are expected to decrease by approximately 58 per cent from 2008 levels."
Demand for metallurgical coal, used in the steelmaking process, has been hit hard by the downturn in global steel markets.
BHP is the world's largest exporter of seaborne metallurgical coal with Mitsubishi.
Other BHP Billiton articles
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11/02/10 BHP Billiton displays grace under pressure
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02/02/10 BHP Billiton boosts Pilbara despite EU threat to Rio joint venture
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10/09/09 BHP Billiton's Olympic Dam expansion won't come cheap
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13/08/09 BHP Billiton's diverse product base is its strength, as profits dip, but future positive
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24/07/09 No decisions yet on BHP Billiton's huge Olympic Dam expansion project - or Yeelirrie uranium
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21/07/09 BHP Billiton's Q4 numbers to come in above analyst expectations
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07/07/09 Spotlight is on nickel - again
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04/02/09 BHP Billiton profit rises 57%, dividend up 41%
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07/01/09 Mining stocks outperform Top 50 Aussie stocks
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28/10/08 Federal Government rail decision opens up Pilbara iron ore
Other BHP Billiton news
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17/03/10 Seeing Machines shares soar on news of DSS order from BHP Billiton
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02/03/10 State funding to support BHP Billiton Olympic Dam expansion
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29/01/10 BHP Billiton approves US$1.93bln investment in its Western Australia Iron Ore business
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28/01/10 BHP Billiton to acquire Athabasca Potash Inc for C$341 mln
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20/01/10 BHP Billiton achieves record iron ore production innfirst half but sees volatile commodity markets in short term
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07/12/09 BHP Billiton and Rio Tinto sign binding agreement to create iron ore joint venture
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21/10/09 BHP Billiton iron ore production rockets on China demand
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02/10/09 BHP Profit Forecast Raised 22% on Copper, RBS Says
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25/09/09 Bloomberg reports BlackRock increases bets on BHP Billiton
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17/09/09 BHP Billiton says China's coal imports "sustainable"
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