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Market:	LSE ASX JSE NYSE
Sector:	General Mining
EPIC:	BLT
Latest Price:	2,139.50 (-1.86% )
52-week High:	2,631.50
52-week Low:	1,667.00
Market Cap:	45,187.80M

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BHP Billiton

BHP Billiton (ASX: BHP) is a global leader in the resources industry, with a diversified portfolio of natural resources. The company's operations include: iron ore, coking and thermal coal, copper, zinc, oil & gas and diamonds.

BHP Billiton agrees on 58% cut in coal price

Wednesday, June 10, 2009

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.

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