Tuesday, March 30, 2010

BHP Billiton Iron Ore Negotiations

30 March 2010

BHP Billiton today announced that it had reached agreement with a significant number of customers throughout Asia to move existing iron ore contracts that were previously priced annually onto a shorter term landed price equivalent basis. The agreements reached represent the majority of BHP Billiton's iron ore sales volume.

The structural change that these settlements represent is consistent with BHP Billiton achieving market clearing prices.

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