Edgar Filing: BHP BILLITON PLC

BHP Billiton Limited and BHP Billiton Plc

Date: 22 October 2014

/s/ Nicole Duncan

Nicole Duncan

Company Secretary

Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

October 22, 2014


BHP BILLITON LIMITED		BHP BILLITON PLC
(ABN 49 004 028 077)		(REG. NO. 3196209)
(Exact name of Registrant as specified in its charter)		(Exact name of Registrant as specified in its charter)


VICTORIA, AUSTRALIA		ENGLAND AND WALES
(Jurisdiction of incorporation or organisation)		(Jurisdiction of incorporation or organisation)

171 COLLINS STREET, MELBOURNE, VICTORIA 3000 AUSTRALIA		NEATHOUSE PLACE, VICTORIA, LONDON, UNITED KINGDOM
(Address of principal executive offices)		(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: x Form 20-F ¨ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: ¨ Yes x No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a


NEWS RELEASE


Release Time		IMMEDIATE

Date		22 October 2014

Number		19/14

BHP BILLITON OPERATIONAL REVIEW

FOR THE QUARTER ENDED 30 SEPTEMBER 2014

•

Group production increased by 9% during the period with records achieved for eight operations and four commodities.

•

Production guidance remains unchanged and we are on track to deliver Group production growth of 16% over the two years to the end of the 2015 financial year.

•

Metallurgical coal production increased by 25% to 13 Mt as Queensland Coal achieved record quarterly production and sales volumes.

•

Western Australia Iron Ore production increased by 15% to a quarterly record of 62 Mt (100% basis) as the ramp-up of Jimblebar continued ahead of schedule and we improved the availability, utilisation and rate of our integrated supply chain.

•

Petroleum production increased by 7% to 67.4 MMboe as Onshore US liquids volumes rose by 49% to a record 11.5 MMboe.

•

Total copper production¹ decreased by 1% to 389 kt as lower ore grades, a power outage throughout Northern Chile and industrial action offset strong underlying operating performance at Escondida.

BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “Robust operating performance across our diversified portfolio in the September 2014 quarter delivered a nine per cent increase in production² with records achieved for eight operations and four commodities. With production guidance maintained across all operations and businesses, we remain on track to generate Group production² growth of 16 per cent over the two years to the end of the 2015 financial year.

“Our relentless focus on productivity continues to yield strong results. At Western Australia Iron Ore, we have completed our major supply chain investments and, for the first time in a decade, we have no major projects in execution. With our focus now on maximising the value of existing infrastructure, we plan to reduce costs and invest judiciously in very low capital cost debottlenecking initiatives. These plans are expected to increase total supply chain capacity to 290 Mtpa³ by the end of the 2017 financial year and reduce unit costs⁴ by at least 25 per cent to less than US$20 per tonne⁵. When combined with other initiatives across our portfolio we are very well positioned to reduce cash costs⁶ by more than US$2.3 billion and deliver volume-related productivity gains⁶ of at least US$1.2 billion by the end of the 2017 financial year.”

Note: Unless specified otherwise: variance analysis relates to the relative performance of BHP Billiton and/or its operations during the September 2014 quarter compared with the September 2013 quarter; production volumes, sales volumes and capital and exploration expenditure from subsidiaries (which include Escondida, Jimblebar, BHP Billiton Mitsui Coal and our manganese operations) are reported on a 100 per cent basis; production volumes, sales volumes and capital and exploration expenditure from equity accounted investments (which include Antamina, Samarco and Cerrejón) and other operations are reported on a proportionate consolidation basis. Abbreviations referenced in this report are explained on page 11.


BHP Billiton operational review for the quarter ended 30 September 2014		1

Summary

Operational performance


Production summary	SEP 2014 QTR		SEP Q14 vs SEP Q13			SEP Q14 vs JUN Q14
Total petroleum production (MMboe)		67.4		7	%		4	%
Copper (kt)		389.4		(3	%)		(17	%)
Iron ore (kt)		57,091		17	%		1	%
Metallurgical coal (kt)		12,769		25	%		7	%
Energy coal (kt)		17,837		(9	%)		(3	%)
Alumina (kt)		1,235		(1	%)		(7	%)
Aluminium (kt)		261		(16	%)		(5	%)
Manganese ores (kt)		2,259		10	%		0	%
Manganese alloys (kt)		171		25	%		(6	%)
Nickel (kt)		35.7		(12	%)		16	%

Robust operating performance across our diversified portfolio in the September 2014 quarter delivered a nine per cent increase in production² with records achieved across eight operations and four commodities. Group production² growth of 16 per cent is expected over the two years to the end of the 2015 financial year.

Metallurgical coal production increased by 25 per cent in the September 2014 quarter to 13 Mt as Queensland Coal achieved record production and sales volumes. The new Caval Ridge mine operated at capacity during the period while the Daunia and South Walker Creek mines also produced at a record rate. Total metallurgical coal production is forecast to increase by four per cent in the 2015 financial year to 47 Mt, consistent with prior guidance.

Western Australia Iron Ore (WAIO) achieved record production of 62 Mt (100 per cent basis) as the ramp-up of Jimblebar continued ahead of schedule and we improved the availability, utilisation and rate of our integrated supply chain. WAIO production guidance for the 2015 financial year remains unchanged at 245 Mt (100 per cent basis) while Samarco production is expected to grow by 29 per cent to 28 Mt (100 per cent basis).

Petroleum production increased by seven per cent in the September 2014 quarter to 67.4 MMboe as Onshore US liquids volumes rose by 49 per cent to a record 11.5 MMboe. Guidance for the 2015 financial year remains unchanged at 255 MMboe with strong performance at Onshore US expected to underpin a 16 MMboe increase in total liquids production.

Escondida copper production decreased by three per cent in the September 2014 quarter to 269 kt as strong operating performance was offset by a 12 per cent decline in ore grades, industrial activity and a power outage throughout Northern Chile. The temporary reduction in ore grades was anticipated, ensuring production guidance for Escondida remains unchanged at 1.27 Mt of copper for the 2015 financial year. Total copper production¹ is forecast to increase by five per cent to 1.8 Mt, consistent with prior guidance. A US$361 million increase in the budget of Escondida Organic Growth Project 1 to US$4.2 billion was approved during the period. The project remains on schedule for completion in the first half of the 2015 calendar year.

Energy coal production decreased by nine per cent in the September 2014 quarter to 18 Mt as adverse weather constrained production at both Cerrejón and New South Wales Energy Coal. Total energy coal production of 73 Mt is expected for the 2015 financial year, consistent with prior guidance.


BHP Billiton operational review for the quarter ended 30 September 2014		2

Production guidance for the 2015 financial year is summarised in the table below.


Production guidance	FY14¹		FY15e		% change
Petroleum (MMboe)		243		255		5	%
Copper (Mt)		1.7		1.8		5	%
Iron ore (Mt)		204		225		11	%
Metallurgical coal (Mt)		45		47		4	%
Energy coal (Mt)		73		73		—

Corporate update

On 16 October 2014, BHP Billiton confirmed that it will pursue a Standard listing on the UK Listing Authority’s Official List and admission to trading on the London Stock Exchange for the new company it plans to create via demerger. This is in addition to the proposed primary listing on the Australian Securities Exchange and secondary inward listing on the Johannesburg Stock Exchange. The Group continues to work towards completion of the demerger in the first half of the 2015 calendar year, subject to receipt of the necessary third party, Board and shareholder approvals.

On 2 September 2014, legislation to repeal the Minerals Resource Rent Tax (MRRT) in Australia received the support of both Houses of Parliament. The MRRT was applicable until 30 September 2014. At 30 June 2014, the Group carried a MRRT deferred tax asset (net of income tax consequences) of US$698 million. An income tax charge approximating this amount is expected to be recognised as an exceptional item in the 2015 financial year and the adjusted effective tax rate guidance⁷ of 30 per cent to 34 per cent for the period remains unchanged.

On 15 August 2014, the Group redeemed all outstanding Petrohawk Energy Corporation 7.25 per cent Senior Notes due August 2018 and 6.25 per cent Senior Notes due June 2019 at the applicable call prices. The aggregate principal value of the notes redeemed was approximately US$1.8 billion.


BHP Billiton operational review for the quarter ended 30 September 2014		3

Petroleum and Potash

Production


	SEP 2014 QTR		SEP Q14 vs SEP Q13			SEP Q14 vs JUN Q14
Crude oil, condensate and natural gas liquids (MMboe)		30.9		19	%		7	%
Natural gas (bcf)		218.9		0	%		2	%
Total petroleum production (MMboe)		67.4		7	%		4	%

Total petroleum production – Total petroleum production increased by seven per cent in the September 2014 quarter to 67.4 MMboe. Guidance for the 2015 financial year remains unchanged at 255 MMboe as strong performance at Onshore US is expected to underpin a 16 MMboe increase in total liquids production. Total conventional volumes for the 2015 financial year are forecast to remain broadly unchanged, consistent with prior guidance.

Crude oil, condensate and natural gas liquids – Crude oil, condensate and natural gas liquids production increased by 19 per cent in the September 2014 quarter to a record 30.9 MMboe.

Onshore US liquids volumes rose by 49 per cent in the September 2014 quarter to a record 11.5 MMboe. This strong performance was underpinned by continued momentum in the Black Hawk and Permian where liquids production increased by 53 per cent and 141 per cent, respectively. We remain confident that shale liquids volumes will rise by approximately 50 per cent in the 2015 financial year.

In our Conventional business, liquids production at Atlantis increased by 38 per cent in the September 2014 quarter as the operation benefited from the completion of two production wells in the June 2014 quarter. At Pyrenees, production increased by 24 per cent in the September 2014 quarter following the completion of five new production wells in the second half of the 2014 financial year.

Natural gas – Natural gas production of 219 bcf was unchanged in the September 2014 quarter.

A two per cent increase in natural gas production from the June 2014 quarter reflected higher seasonal demand at Bass Strait and stronger uptime performance at North West Shelf following a period of planned maintenance. This was partially offset by natural field decline at our Onshore US dry gas assets.

Projects and Onshore US capital expenditure

Project and ownership

Capital
expenditure
(US$m)

Initial
production
target date

Capacity

Progress

North West Shelf Greater Western Flank-A (Australia)

16.67% (non-operator)

400

CY16

To maintain LNG plant throughput from the North West Shelf operations.

On schedule and budget. The overall project is 81% complete.

Bass Strait Longford Gas Conditioning Plant (Australia)

50% (non-operator)

520

CY16

Designed to process approximately 400 MMcf/d of high-CO₂ gas.

On schedule and budget. The overall project is 40% complete.

Onshore US drilling and development expenditure totalled US$895 million in the September 2014 quarter. The Company’s operated rig count increased to 25 during the period, with an additional rig now operating in the Permian. At the end of the period, 17 operated rigs were in action in the Eagle Ford, five were in the Permian and three were in the Haynesville. We expect Onshore US drilling and development expenditure of approximately US$4.0 billion for the 2015 financial year, consistent with prior guidance.


BHP Billiton operational review for the quarter ended 30 September 2014		4


Onshore US September 2014 quarter (September 2013 quarter)		Liquids focused areas (Eagle Ford and Permian)			Gas focused areas (Haynesville and Fayetteville)			Total
Capital expenditure	US$ billion		0.8 (1.3	)		0.1 (0.2	)		0.9 (1.5	)
Production	MMboe		16.7 (12.4	)		13.7 (14.4	)		30.4 (26.8	)
Production mix	Natural gas		31% (38	%)		100% (100	%)		62% (71	%)
	Natural gas liquids		23% (21	%)		- (-	)		13% (10	%)
	Crude and condensate		46% (41	%)		- (-	)		25% (19	%)

Petroleum exploration

Exploration and appraisal wells drilled during the September 2014 quarter are summarised below.

Well

Location

Target

BHP Billiton
equity

Spud date

Water depth

Total well depth

Status

Perseus-1

Gulf of Mexico DC231

Oil

15%

(Statoil operator)

21 September 2014

1,401 m

2,437 m⁸

Drilling ahead

Petroleum exploration expenditure for the September 2014 quarter was US$154 million, of which US$146 million was expensed. A US$750 million exploration program, largely focused on the Gulf of Mexico, Western Australia and Trinidad and Tobago is planned for the 2015 financial year. The seismic acquisition program in Trinidad and Tobago is progressing on schedule.⁹

Following recent economic reforms in Mexico, BHP Billiton and Petroleos Mexicanos (Pemex) signed a memorandum of understanding and cooperation (MOU) on 25 September 2014 to exchange technical knowledge, information, experiences and practices in activities related to the oil and gas industry.

Potash

Project and ownership

Investment
(US$m)

Scope

Progress

Jansen Potash (Canada)

100%

2,600

Investment to finish the excavation and lining of the production and service shafts, and to continue the installation of essential surface infrastructure and utilities.

The overall project is 36% complete and on budget.


BHP Billiton operational review for the quarter ended 30 September 2014		5

Copper

Production


	SEP 2014 QTR		SEP Q14 vs SEP Q13			SEP Q14 vs JUN Q14
Copper (kt)		389.4		(3	%)		(17	%)
Lead (t)		49,574		7	%		7	%
Zinc (t)		40,663		42	%		40	%
Silver (koz)		9,068		4	%		7	%
Uranium oxide concentrate (t)		866		(11	%)		(17	%)

Copper – Total copper production¹ decreased by one per cent in the September 2014 quarter to 389 kt. Guidance for the 2015 financial year remains unchanged at 1.8 Mt.

Escondida copper production decreased by three per cent in the September 2014 quarter to 269 kt as strong operating performance was offset by a 12 per cent decline in ore grades, two days of industrial action and a power outage throughout Northern Chile. As a result of increased throughput, water restrictions are anticipated during the December 2014 quarter which may result in the partial deferral of production to the March 2015 quarter. The Escondida Water Supply project, which involves the construction of a new 2,500 litre per second sea-water desalination facility, will ensure continued water supply over the long term. Production guidance for Escondida remains unchanged at 1.27 Mt of copper for the 2015 financial year.

At Pampa Norte, copper production increased by 28 per cent in the September 2014 quarter to 56 kt, as Spence benefited from higher grades and recoveries. An increase in pad height at Cerro Colorado to optimise longer-term leaching stability and tertiary crusher maintenance at Spence contributed to the weaker performance relative to the June 2014 quarter. Production at Pampa Norte for the 2015 financial year is expected to be broadly unchanged from the prior year, as higher grades and recoveries at Spence offset declining grades and recoveries at Cerro Colorado.

While Olympic Dam copper production increased by 41 per cent in the September 2014 quarter to 39 kt, the completion of planned smelter maintenance led to a 28 per cent decline in production from the June 2014 quarter. Production at Olympic Dam in the 2015 financial year is expected to remain broadly unchanged from the prior year.

Antamina copper production declined by 39 per cent in the September 2014 quarter to 26 kt as the mine plan progressed through a zone of lower grade ore. Average copper grades at Antamina in the 2015 financial year are expected to remain at a similar level to the September 2014 quarter, consistent with the mine plan.

Lead/silver – Lead and silver production¹ increased by seven per cent and five per cent, respectively, in the September 2014 quarter as higher mill throughput more than offset lower average ore grades at Cannington.

Zinc – Total zinc production increased by 42 per cent in the September 2014 quarter and primarily reflected higher grades at Antamina, consistent with the mine plan. Strong performance at Cannington was underpinned by higher grades and increased mill throughput.

Uranium – Uranium production decreased by 11 per cent in the September 2014 quarter as lower mill throughput was only partially offset by higher grades.


BHP Billiton operational review for the quarter ended 30 September 2014		6

Projects

Project and ownership

Capital
expenditure
(US$m)

Initial
production
target date

Capacity

Progress

Escondida Oxide Leach Area Project (Chile)

57.5%

933

H2 CY14

New dynamic leaching pad and mineral handling system. Maintains oxide leaching capacity.

On revised schedule and budget. The overall project is 97% complete.

Escondida Organic Growth Project 1 (Chile)

57.5%

4,199

H1 CY15

New concentrator with 152 ktpd capacity.

Budget revised. The overall project is 86% complete and remains on schedule.

Escondida Water Supply (Chile)

57.5%

3,430

CY17

New desalination facility to ensure continued water supply to Escondida.

On schedule and budget. The overall project is 17% complete.

A US$361 million increase in the budget of the Escondida Organic Growth Project 1 to US$4.2 billion was approved during the period and reflected challenges associated with contractor progress which have now been addressed. The project remains on schedule for completion in the first half of the 2015 calendar year.


BHP Billiton operational review for the quarter ended 30 September 2014		7

Iron Ore

Production


	SEP 2014 QTR		SEP Q14 vs SEP Q13			SEP Q14 vs JUN Q14
Iron ore (kt)		57,091		17	%		1	%

Iron ore – Iron ore production increased by 17 per cent in the September 2014 quarter to a record 57 Mt. Total iron ore production is forecast to increase by 11 per cent in the 2015 financial year to 225 Mt, consistent with prior guidance.

Western Australia Iron Ore (WAIO) production increased by 15 per cent in the September 2014 quarter to a record 62 Mt (100 per cent basis) as the ramp-up of Jimblebar continued ahead of schedule and we improved the availability, utilisation and rate of our integrated supply chain. In addition to the strong operational performance achieved at our mines, a higher proportion of direct to ship ore increased outflow capacity at the port and facilitated record sales volumes of 63 Mt (100 per cent basis).

WAIO production guidance for the 2015 financial year remains unchanged at 245 Mt (100 per cent basis) with the tie-in of shiploader 2 expected to be completed during the December 2014 quarter. Further growth in supply chain capacity to 270 Mtpa (100 per cent basis) is expected to be achieved without the need for additional fixed plant investment. Beyond that, the Inner Harbour Debottlenecking and Jimblebar Phase 2 projects³ have the potential to increase total capacity to 290 Mtpa (100 per cent basis) by the end of the 2017 financial year at very low capital cost.

As production grows we will maintain a relentless focus on costs. We expect unit cash costs⁴ of less than US$20 per tonne⁵ in the medium term, a reduction of more than 25 per cent on the average achieved in the 2014 financial year. Sustaining capital expenditure guidance of approximately US$5 per tonne over the next five years reflects the size and quality of our major operating hubs and highly concentrated resource.

Samarco production increased by 12 per cent from the June 2014 quarter to 7 Mt (100 per cent basis). The ramp-up of the fourth pellet plant to 30.5 Mtpa (100 per cent basis) is expected before the end of the 2015 financial year.


BHP Billiton operational review for the quarter ended 30 September 2014		8

Coal

Production


	SEP 2014 QTR		SEP Q14 vs SEP Q13			SEP Q14 vs JUN Q14
Metallurgical coal (kt)		12,769		25	%		7	%
Energy coal (kt)		17,837		(9	%)		(3	%)

Metallurgical coal – Metallurgical coal production increased by 25 per cent in the September 2014 quarter to a record 13 Mt. Total metallurgical coal production is forecast to increase by four per cent in the 2015 financial year to 47 Mt, consistent with prior guidance.

Record production at Queensland Coal was underpinned by strong operational performance across the business and continued improvement in truck and wash-plant utilisation. The new Caval Ridge mine operated at capacity during the period while the Daunia and South Walker Creek mines also produced at a record rate.

Illawarra Coal production increased by 64 per cent in the September 2014 quarter to 2.3 Mt as a series of productivity initiatives enabled the mine to achieve record run-of-mine production. Volumes in the September 2013 quarter were affected by an extended outage at Dendrobium.

Energy coal – Energy coal production decreased by nine per cent in the September 2014 quarter to 18 Mt. As anticipated, a drought in the La Guajira region of Colombia constrained production volumes at Cerrejón given the need to manage dust emissions. At New South Wales Energy Coal, adverse weather and unplanned wash plant outages resulted in a 12 per cent decline in production during the period. Navajo Coal production also declined following the permanent closure of three of the five power units at the Four Corners Power Plant.

Total energy coal production of 73 Mt is expected for the 2015 financial year, consistent with prior guidance.

Projects

Project and ownership

Capital
expenditure
(US$m)

Initial
production
target date

Capacity

Progress

Hay Point Stage Three Expansion (Australia)

50%

1,505

¹⁰

CY15

Increases port capacity from 44 Mtpa to 55 Mtpa and reduces storm vulnerability.

On revised schedule and budget. The overall project is 91% complete.

Appin Area 9 (Australia)

100%

845

CY16

Maintains Illawarra Coal’s production capacity with a replacement mining domain and capacity to produce 3.5 Mtpa of metallurgical coal.

On schedule and budget. The overall project is 72% complete.


BHP Billiton operational review for the quarter ended 30 September 2014		9

Aluminium, Manganese and Nickel

Production


	SEP 2014 QTR		SEP Q14 vs SEP Q13			SEP Q14 vs JUN Q14
Alumina (kt)		1,235		(1	%)		(7	%)
Aluminium (kt)		261		(16	%)		(5	%)
Manganese ores (kt)		2,259		10	%		0	%
Manganese alloys (kt)		171		25	%		(6	%)
Nickel (kt)		35.7		(12	%)		16	%

Alumina – Alumina production was broadly unchanged in the September 2014 quarter at 1.2 Mt, supported by record production at the Alumar refinery. While a series of calciner outages constrained Worsley production during the September 2014 quarter, volumes are expected to recover as the refinery processes stockpiled hydrate in future periods.

Aluminium – Aluminium production decreased by 16 per cent in the September 2014 quarter to 261 kt. Lower volumes primarily reflected the cessation of smelting activities at Bayside in June 2014 and the suspension of capacity at the Alumar smelter during the 2014 financial year. This was partially offset by record production at Mozal during the period.

Manganese ores – Manganese ore production increased by 10 per cent in the September 2014 quarter to a record 2.3 Mt as an improvement in ore recovery at Mamatwan and an increase in plant availability at Wessels resulted in record quarterly production at Hotazel.

Manganese alloys – Manganese alloy production increased by 25 per cent in the September 2014 quarter to 171 kt as smelter reliability improved at both Metalloys and TEMCO.

Nickel – Nickel production declined by 12 per cent in the September 2014 quarter to 36 kt, primarily as a result of the closure of the Perseverance underground mine at Nickel West in November 2013. Consistent with prior guidance, we expect saleable nickel production at Nickel West to decline by four per cent in the 2015 financial year to 95 kt. Ferro-nickel production at Cerro Matoso is expected to decline by three per cent to 43 kt as a result of lower grades and recoveries.


BHP Billiton operational review for the quarter ended 30 September 2014		10

Minerals exploration

Minerals exploration expenditure for the September 2014 quarter was US$79 million, of which US$58 million was expensed. Greenfield minerals exploration is predominantly focused on advancing copper targets within Chile, Peru and the South-West United States.

This report represents the Interim Management Statement for the purposes of the UK Listing Authority’s Disclosure and Transparency Rules. There have been no significant changes in the financial position of the Group in the quarter ended 30 September 2014.

1.	Excludes operations which were sold during the 2014 financial year (Liverpool Bay and Pinto Valley).

2.	Refers to copper equivalent production based on average realised prices for the 2013 financial year.

3.	Subject to Board approval.

4.	Excludes freight and royalties.

5.	Based on real 2014 terms; AUD:USD of 0.91.

6.	Represents planned annualised controllable cash cost and volume-related productivity gains from our core assets only, relative to the 2014 financial year.

7.	The Group’s adjusted effective tax rate excludes the influence of exchange rate movements, remeasurement of deferred tax assets associated with the Minerals Resource Rent Tax (MRRT) and exceptional items.

8.	Well depth as at 30 September 2014; drilling still in progress.

9.	17,719 square kilometres 3D seismic acquisition in progress over Trinidad and Tobago Blocks 5, 6, 14, 23a, 23b, 28 and 29.

10.	Excludes announced pre-commitment funding.

The following abbreviations may have been used throughout this report: barrels (bbl); billion cubic feet (bcf); cost and freight (CFR); cost, insurance and freight (CIF); dry metric tonne unit (dmtu); free on board (FOB); grams per tonne (g/t); kilograms per tonne (kg/t); kilometre (km); metre (m); million barrels of oil equivalent (MMboe); million cubic feet per day (MMcf/d); million tonnes (Mt); million tonnes per annum (Mtpa); ounces (oz); pounds (lb); thousand barrels of oil equivalent (Mboe); thousand ounces (koz); thousand standard cubic feet (Mscf); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).


BHP Billiton operational review for the quarter ended 30 September 2014		11

Further information on BHP Billiton can be found at: www.bhpbilliton.com.


Media Relations		Investor Relations
Australia Emily Perry Tel: +61 3 9609 2800 Mobile: +61 477 325 803 email: Emily.Perry@bhpbilliton.com Paul Hitchins Tel: + 61 3 9609 2592 Mobile: + 61 419 315 001 email: Paul.Hitchins@bhpbilliton.com Eleanor Nichols Tel: +61 3 9609 2360 Mobile: +61 407 064 748 email: Eleanor.Nichols@bhpbilliton.com United Kingdom Ruban Yogarajah Tel: +44 20 7802 4033 Mobile: +44 7827 082 022 email: Ruban.Yogarajah@bhpbilliton.com Jennifer White Tel: +44 20 7802 7462 Mobile: +44 7827 253 764 email: Jennifer.White@bhpbilliton.com Americas Ruban Yogarajah Tel: +44 20 7802 4033 Mobile: +44 7827 082 022 email: Ruban.Yogarajah@bhpbilliton.com BHP Billiton Limited ABN 49 004 028 077 Registered in Australia Registered Office: Level 16, 171 Collins Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015		Australia Tara Dines Tel: +61 3 9609 2222 Mobile: +61 499 249 005 email: Tara.Dines@bhpbilliton.com Jodie Phillips Tel: +61 3 9609 2069 Mobile: +61 418 710 516 email: Jodie.Phillips@bhpbilliton.com United Kingdom and South Africa Jonathan Price Tel: +44 20 7802 4131 Mobile: +44 7990 527 726 email: Jonathan.H.Price@bhpbilliton.com Dean Simon Tel: +44 20 7802 7461 Mobile: +44 7717 511 193 email: Dean.Simon@bhpbilliton.com Americas James Agar Tel: +1 212 310 1421 Mobile: +1 347 882 3011 email: James.Agar@bhpbilliton.com Joseph Suarez Tel: +1 212 310 1422 Mobile: +1 646 400 3803 email: Joseph.Suarez@bhpbilliton.com BHP Billiton Plc Registration number 3196209 Registered in England and Wales Registered Office: Neathouse Place London SW1V 1LH United Kingdom Tel +44 20 7802 4000 Fax +44 20 7802 4111

Members of the BHP Billiton Group which is headquartered in Australia


BHP Billiton operational review for the quarter ended 30 September 2014		12

BHP BILLITON PRODUCTION SUMMARY


		QUARTER ENDED						YEAR TO DATE				% CHANGE
		SEP 2013		JUN 2014		SEP 2014		SEP 2014		SEP 2013		SEP Q14 vs SEP Q13			SEP Q14 vs JUN Q14

Petroleum
Crude oil, condensate and NGL	(Mboe)		26,053		28,877		30,945		30,945		26,053		19	%		7	%
Natural gas	(bcf)		219.7		215.0		218.9		218.9		219.7		(0	%)		2	%
Total petroleum production	(MMboe)		62.7		64.7		67.4		67.4		62.7		7	%		4	%

Copper
Copper	(kt)		403.3		470.0		389.4		389.4		403.3		(3	%)		(17	%)
Lead	(t)		46,445		46,165		49,574		49,574		46,445		7	%		7	%
Zinc	(t)		28,555		29,116		40,663		40,663		28,555		42	%		40	%
Gold	(oz)		40,188		59,705		52,344		52,344		40,188		30	%		(12	%)
Silver	(koz)		8,688		8,509		9,068		9,068		8,688		4	%		7	%
Uranium	(t)		970		1,044		866		866		970		(11	%)		(17	%)
Molybdenum	(t)		458		83		40		40		458		(91	%)		(52	%)

Iron ore
Iron ore	(kt)		48,953		56,643		57,091		57,091		48,953		17	%		1	%

Coal
Metallurgical coal	(kt)		10,185		11,886		12,769		12,769		10,185		25	%		7	%
Energy coal	(kt)		19,639		18,363		17,837		17,837		19,639		(9	%)		(3	%)

Aluminium, Manganese and Nickel
Alumina	(kt)		1,251		1,325		1,235		1,235		1,251		(1	%)		(7	%)
Aluminium	(kt)		310		276		261		261		310		(16	%)		(5	%)
Manganese ores	(kt)		2,046		2,255		2,259		2,259		2,046		10	%		0	%
Manganese alloys	(kt)		137		181		171		171		137		25	%		(6	%)
Nickel	(kt)		40.4		30.9		35.7		35.7		40.4		(12	%)		16	%

Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.


BHP Billiton operational review for the quarter ended 30 September 2014		13

BHP BILLITON PRODUCTION


				QUARTER ENDED										YEAR TO DATE
	BHP Billiton interest			SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Petroleum
Production
Crude oil, condensate and NGL (Mboe) ⁽¹⁾					26,053		23,973		27,244		28,877		30,945		30,945		26,053
Natural gas (bcf)					219.7		202.6		202.0		215.0		218.9		218.9		219.7

Total petroleum production (MMboe)					62.7		57.7		60.9		64.7		67.4		67.4		62.7


Copper ⁽²⁾
Copper
Payable metal in concentrate (kt)
Escondida ⁽³⁾		57.5	%		205.1		208.0		190.6		241.0		199.4		199.4		205.1
Antamina		33.8	%		41.9		42.4		33.0		26.2		25.7		25.7		41.9
Pinto Valley		100	%		10.9		1.6		—		—		—		—		10.9

Total					257.9		252.0		223.6		267.2		225.1		225.1		257.9


Cathode (kt)
Escondida ⁽³⁾		57.5	%		73.2		77.5		75.8		81.5		69.3		69.3		73.2
Pampa Norte ⁽⁴⁾		100	%		43.5		59.4		63.4		66.8		55.8		55.8		43.5
Pinto Valley		100	%		0.8		0.1		—		—		—		—		0.8
Olympic Dam		100	%		27.9		50.9		51.1		54.5		39.2		39.2		27.9

Total					145.4		187.9		190.3		202.8		164.3		164.3		145.4

Total Copper					403.3		439.9		413.9		470.0		389.4		389.4		403.3


Lead
Payable metal in concentrate (t)
Cannington		100	%		46,287		47,259		47,214		45,768		48,941		48,941		46,287
Antamina		33.8	%		158		580		363		397		633		633		158

Total					46,445		47,839		47,577		46,165		49,574		49,574		46,445


Zinc
Payable metal in concentrate (t)
Cannington		100	%		16,033		16,123		10,074		15,666		19,927		19,927		16,033
Antamina		33.8	%		12,522		16,732		9,335		13,450		20,736		20,736		12,522

Total					28,555		32,855		19,409		29,116		40,663		40,663		28,555


Gold
Payable metal in concentrate (oz)
Escondida ⁽³⁾		57.5	%		12,490		19,384		20,110		20,920		21,980		21,980		12,490
Olympic Dam (refined gold)		100	%		27,649		26,271		28,630		38,785		30,364		30,364		27,649
Pinto Valley		100	%		49		—		—		—		—		—		49

Total					40,188		45,655		48,740		59,705		52,344		52,344		40,188


Silver
Payable metal in concentrate (koz)
Escondida ⁽³⁾		57.5	%		891		982		1,078		1,320		1,159		1,159		891
Antamina		33.8	%		1,205		1,350		961		843		954		954		1,205
Cannington		100	%		6,361		6,306		6,465		6,029		6,701		6,701		6,361
Olympic Dam (refined silver)		100	%		190		212		253		317		254		254		190
Pinto Valley		100	%		41		—		—		—		—		—		41

Total					8,688		8,850		8,757		8,509		9,068		9,068		8,688


Uranium
Payable metal in concentrate (t)
Olympic Dam		100	%		970		1,008		966		1,044		866		866		970

Total					970		1,008		966		1,044		866		866		970


Molybdenum
Payable metal in concentrate (t)
Antamina		33.8	%		458		379		281		83		40		40		458

Total					458		379		281		83		40		40		458

Refer footnotes on page 16.


BHP Billiton operational review for the quarter ended 30 September 2014		14

BHP BILLITON PRODUCTION


				QUARTER ENDED										YEAR TO DATE
	BHP Billiton interest			SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Iron Ore
Production (kt) ⁽⁵⁾
Newman		85	%		12,196		12,483		15,470		16,766		16,707		16,707		12,196
Yarrie		85	%		202		428		206		—		—		—		202
Area C Joint Venture		85	%		11,814		11,383		11,282		12,481		13,265		13,265		11,814
Yandi Joint Venture		85	%		18,146		17,135		15,622		17,615		16,607		16,607		18,146
Jimblebar ⁽⁶⁾		85	%		700		1,702		2,721		3,740		3,971		3,971		700
Wheelarra ⁽⁷⁾		85	%		3,166		2,716		1,698		2,973		3,115		3,115		3,166
Samarco		50	%		2,729		2,841		2,281		3,068		3,426		3,426		2,729

Total					48,953		48,688		49,280		56,643		57,091		57,091		48,953


Coal
Metallurgical coal
Production (kt) ⁽⁸⁾
BMA		50	%		6,705		7,494		7,461		7,596		8,228		8,228		6,705
BHP Mitsui Coal ⁽⁹⁾		80	%		2,057		2,114		1,995		2,143		2,204		2,204		2,057
Illawarra		100	%		1,423		1,932		2,011		2,147		2,337		2,337		1,423

Total					10,185		11,540		11,467		11,886		12,769		12,769		10,185


Energy coal
Production (kt)
South Africa ⁽¹⁰⁾		90	%		7,937		7,036		7,398		8,013		8,026		8,026		7,937
USA		100	%		3,145		2,896		2,359		2,412		2,690		2,690		3,145
Australia		100	%		5,372		4,544		5,018		5,030		4,752		4,752		5,372
Colombia		33.3	%		3,185		3,291		2,948		2,908		2,369		2,369		3,185

Total					19,639		17,767		17,723		18,363		17,837		17,837		19,639


Aluminium, Manganese and Nickel
Alumina
Saleable production (kt)
Worsley		86	%		946		1,024		936		1,010		893		893		946
Alumar		36	%		305		328		314		315		342		342		305

Total					1,251		1,352		1,250		1,325		1,235		1,235		1,251


Aluminium
Production (kt)
Hillside		100	%		184		183		172		176		180		180		184
Bayside ⁽¹¹⁾		100	%		24		24		23		18		—		—		24
Alumar		40	%		35		28		26		15		13		13		35
Mozal		47.1	%		67		67		65		67		68		68		67

Total					310		302		286		276		261		261		310


Manganese ores
Saleable production (kt)
South Africa ⁽¹²⁾		44.4	%		864		944		782		936		1,049		1,049		864
Australia ⁽¹²⁾		60	%		1,182		1,256		1,019		1,319		1,210		1,210		1,182

Total					2,046		2,200		1,801		2,255		2,259		2,259		2,046


Manganese alloys
Saleable production (kt)
South Africa ^(12) (13)		60	%		86		94		91		106		112		112		86
Australia ⁽¹²⁾		60	%		51		72		71		75		59		59		51

Total					137		166		162		181		171		171		137


Nickel
Saleable production (kt)
Cerro Matoso		99.9	%		12.0		12.3		9.8		10.2		10.7		10.7		12.0
Nickel West		100	%		28.4		25.5		24.3		20.7		25.0		25.0		28.4

Total					40.4		37.8		34.1		30.9		35.7		35.7		40.4

Refer footnotes on page 16.


BHP Billiton operational review for the quarter ended 30 September 2014		15

BHP BILLITON PRODUCTION

(1)	LPG and ethane are reported as natural gas liquids (NGL). Product-specific conversions are made and NGL is reported in barrels of oil equivalent (boe). Total boe conversions are based on 6,000 scf of natural gas equals 1 boe.

(2)	Metal production is reported on the basis of payable metal.

(3)	Shown on 100% basis. BHP Billiton interest in saleable production is 57.5%.

(4)	Includes Cerro Colorado and Spence.

(5)	Iron ore production is reported on a wet tonnes basis.

(6)	Shown on 100% basis. BHP Billiton interest in saleable production is 85%.

(7)	All production from Wheelarra is now processed via the Jimblebar processing hub.

(8)	Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.

(9)	Shown on 100% basis. BHP Billiton interest in saleable production is 80%.

(10)	Shown on 100% basis. BHP Billiton interest in saleable production is 90%.

(11)	Aluminium smelting at Bayside ceased with the closure of the final potline in June 2014.

(12)	Shown on 100% basis. BHP Billiton interest in saleable production is 60%, except Hotazel Manganese Mines which is 44.4%.

(13)	Production includes Medium Carbon Ferro Manganese.


BHP Billiton operational review for the quarter ended 30 September 2014		16

PRODUCTION AND SALES REPORT


	QUARTER ENDED										YEAR TO DATE
	SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Petroleum

Crude oil, condensate and NGL (Mboe)
Crude oil and condensate
Bass Strait		2,247		1,958		2,095		2,355		2,818		2,818		2,247
North West Shelf		1,865		1,497		1,504		1,408		1,501		1,501		1,865
Stybarrow		348		317		282		255		225		225		348
Pyrenees		1,707		1,295		2,386		2,075		2,109		2,109		1,707
Other Australia ⁽¹⁾		14		12		11		14		17		17		14
Atlantis ⁽²⁾		2,953		3,988		3,734		4,114		4,175		4,175		2,953
Mad Dog ⁽²⁾		732		496		704		187		390		390		732
Shenzi ⁽²⁾		3,467		3,201		3,467		3,530		3,530		3,530		3,467
Onshore US ⁽³⁾		5,044		4,238		5,589		7,069		7,677		7,677		5,044
Trinidad/Tobago		320		314		279		248		252		252		320
Other Americas ^(2) (4)		378		373		329		371		349		349		378
UK ⁽⁵⁾		142		305		254		27		34		34		142
Algeria		1,142		1,156		1,069		996		1,011		1,011		1,142
Pakistan		62		52		49		37		38		38		62

Total		20,421		19,202		21,752		22,686		24,126		24,126		20,421


NGL
Bass Strait		2,001		1,603		1,621		2,026		2,161		2,161		2,001
North West Shelf		399		234		276		288		293		293		399
Atlantis ⁽²⁾		255		348		288		111		248		248		255
Mad Dog ⁽²⁾		38		24		36		39		21		21		38
Shenzi ⁽²⁾		266		252		280		252		271		271		266
Onshore US ⁽³⁾		2,656		2,295		2,986		3,471		3,783		3,783		2,656
Other Americas ^(2) (4)		11		10		2		—		38		38		11
UK ⁽⁵⁾		6		5		3		4		4		4		6

Total		5,632		4,771		5,492		6,191		6,819		6,819		5,632



Total crude oil, condensate and NGL		26,053		23,973		27,244		28,877		30,945		30,945		26,053


Natural gas (bcf)
Bass Strait		34.2		22.7		21.2		30.5		33.3		33.3		34.2
North West Shelf		34.2		30.3		31.4		31.8		36.9		36.9		34.2
Other Australia ⁽¹⁾		9.3		15.1		13.2		13.6		16.4		16.4		9.3
Atlantis ⁽²⁾		1.3		1.8		1.8		1.9		1.7		1.7		1.3
Mad Dog ⁽²⁾		0.1		0.1		0.1		0.1		0.1		0.1		0.1
Shenzi ⁽²⁾		0.8		0.8		0.8		0.8		0.8		0.8		0.8
Onshore US ⁽³⁾		114.9		105.3		109.7		118.9		113.6		113.6		114.9
Trinidad/Tobago		9.9		9.7		9.3		9.1		8.8		8.8		9.9
Other Americas ^(2) (4)		0.3		0.3		0.2		0.2		0.2		0.2		0.3
UK ⁽⁵⁾		3.5		6.2		5.4		0.8		0.7		0.7		3.5
Pakistan		11.2		10.3		8.9		7.3		6.4		6.4		11.2

Total		219.7		202.6		202.0		215.0		218.9		218.9		219.7



Total petroleum production (MMboe) ⁽⁶⁾		62.7		57.7		60.9		64.7		67.4		67.4		62.7

(1)	Other Australia includes Minerva and Macedon.

(2)	Gulf of Mexico volumes are net of royalties.

(3)	Onshore US volumes are net of mineral holder royalties.

(4)	Other Americas includes Neptune, Genesis and Overriding Royalty Interest.

(5)	UK includes Bruce/Keith and Liverpool Bay. BHP Billiton completed the sale of its 46.1% operated interest in Liverpool Bay on 31 March 2014.

(6)	Total boe conversions are based on 6,000 scf of natural gas equals 1 boe.


BHP Billiton operational review for the quarter ended 30 September 2014		17

PRODUCTION AND SALES REPORT


		QUARTER ENDED															YEAR TO DATE
		SEP 2013			DEC 2013			MAR 2014			JUN 2014			SEP 2014			SEP 2014			SEP 2013

Copper
Metals production is payable metal unless otherwise stated.

Escondida, Chile ⁽¹⁾
Material mined	(kt)		93,744			93,814			96,420			94,673			101,920			101,920			93,744
Sulphide ore milled	(kt)		18,276			19,584			21,051			21,438			20,651			20,651			18,276
Average copper grade	(%)		1.37	%		1.30	%		1.12	%		1.33	%		1.20	%		1.20	%		1.37	%
Production ex mill	(kt)		210.6			214.4			195.5			235.6			205.5			205.5			210.6

Production
Payable copper ⁽²⁾	(kt)		205.1			208.0			190.6			241.0			199.4			199.4			205.1
Payable gold concentrate	(fine oz)		12,490			19,384			20,110			20,920			21,980			21,980			12,490
Copper cathode (EW)	(kt)		73.2			77.5			75.8			81.5			69.3			69.3			73.2
Payable silver concentrate	(koz)		891			982			1,078			1,320			1,159			1,159			891

Sales
Payable copper	(kt)		192.3			228.1			173.2			239.1			203.3			203.3			192.3
Payable gold concentrate	(fine oz)		12,490			18,602			20,889			20,920			21,980			21,980			12,490
Copper cathode (EW)	(kt)		63.0			86.7			76.4			83.3			64.1			64.1			63.0
Payable silver concentrate	(koz)		836			1,076			1,046			1,320			1,159			1,159			836
(1) Shown on 100% basis. BHP Billiton interest in saleable production is 57.5%. (2) June 2014 quarter includes 4.3 kt of copper contained in ore sold to third parties.
Pampa Norte, Chile
Cerro Colorado
Material mined	(kt)		15,771			17,487			15,939			17,087			15,517			15,517			15,771
Ore milled	(kt)		4,161			4,501			4,508			4,016			4,189			4,189			4,161
Average copper grade	(%)		0.78	%		0.76	%		0.75	%		0.76	%		0.77	%		0.77	%		0.78	%

Production
Copper cathode (EW)	(kt)		17.6			19.4			22.0			21.3			15.7			15.7			17.6

Sales
Copper cathode (EW)	(kt)		17.3			17.6			12.4			28.7			20.0			20.0			17.3

Spence
Material mined	(kt)		24,331			27,911			25,037			25,962			24,238			24,238			24,331
Ore milled	(kt)		4,860			4,788			4,735			3,775			4,409			4,409			4,860
Average copper grade	(%)		1.11	%		1.25	%		1.23	%		1.30	%		1.33	%		1.33	%		1.11	%

Production
Copper cathode (EW)	(kt)		25.9			40.0			41.4			45.5			40.1			40.1			25.9

Sales
Copper cathode (EW)	(kt)		25.9			35.9			40.0			49.6			36.9			36.9			25.9


BHP Billiton operational review for the quarter ended 30 September 2014		18

PRODUCTION AND SALES REPORT


		QUARTER ENDED															YEAR TO DATE
		SEP 2013			DEC 2013			MAR 2014			JUN 2014			SEP 2014			SEP 2014			SEP 2013

Copper
Metals production is payable metal unless otherwise stated.

Antamina, Peru
Material mined (100%)	(kt)		56,428			50,872			45,837			49,797			54,675			54,675			56,428
Sulphide ore milled (100%)	(kt)		11,765			12,521			11,729			12,756			12,370			12,370			11,765
Average head grades
- Copper	(%)		1.21	%		1.15	%		1.00	%		0.77	%		0.81	%		0.81	%		1.21	%
- Zinc	(%)		0.56	%		0.72	%		0.54	%		0.58	%		0.84	%		0.84	%		0.56	%

Production
Payable copper	(kt)		41.9			42.4			33.0			26.2			25.7			25.7			41.9
Payable zinc	(t)		12,522			16,732			9,335			13,450			20,736			20,736			12,522
Payable silver	(koz)		1,205			1,350			961			843			954			954			1,205
Payable lead	(t)		158			580			363			397			633			633			158
Payable molybdenum	(t)		458			379			281			83			40			40			458

Sales
Payable copper	(kt)		41.3			44.5			30.2			26.5			26.3			26.3			41.3
Payable zinc	(t)		16,123			18,397			10,158			14,527			12,912			12,912			16,123
Payable silver	(koz)		1,503			1,367			910			893			896			896			1,503
Payable lead	(t)		297			368			405			521			320			320			297
Payable molybdenum	(t)		411			442			347			142			50			50			411

Cannington, Australia
Material mined	(kt)		893			974			773			806			823			823			893
Ore milled	(kt)		750			852			779			821			819			819			750
Average head grades
- Silver	(g/t)		315			274			311			286			301			301			315
- Lead	(%)		7.4	%		6.7	%		7.3	%		6.9	%		7.1	%		7.1	%		7.4	%
- Zinc	(%)		3.3	%		3.1	%		2.4	%		3.1	%		3.8	%		3.8	%		3.3	%

Production
Payable silver	(koz)		6,361			6,306			6,465			6,029			6,701			6,701			6,361
Payable lead	(t)		46,287			47,259			47,214			45,768			48,941			48,941			46,287
Payable zinc	(t)		16,033			16,123			10,074			15,666			19,927			19,927			16,033

Sales
Payable silver	(koz)		7,844			6,548			6,127			5,641			7,084			7,084			7,844
Payable lead	(t)		56,500			47,185			43,649			41,607			51,197			51,197			56,500
Payable zinc	(t)		17,286			18,241			11,020			15,708			15,450			15,450			17,286


BHP Billiton operational review for the quarter ended 30 September 2014		19

PRODUCTION AND SALES REPORT


		QUARTER ENDED															YEAR TO DATE
		SEP 2013			DEC 2013			MAR 2014			JUN 2014			SEP 2014			SEP 2014			SEP 2013

Copper
Metals production is payable metal unless otherwise stated.

Olympic Dam, Australia
Material mined ⁽¹⁾	(kt)		2,897			2,717			2,495			2,405			2,692			2,692			2,897
Ore milled	(kt)		2,404			2,641			2,421			2,654			2,206			2,206			2,404
Average copper grade	(%)		1.85	%		1.86	%		1.90	%		1.91	%		1.97	%		1.97	%		1.85	%
Average uranium grade	(kg/t)		0.53			0.52			0.54			0.51			0.59			0.59			0.53

Production
Copper cathode (ER)	(kt)		25.9			47.6			48.4			51.3			36.9			36.9			25.9
Copper cathode (EW)	(kt)		2.0			3.3			2.7			3.2			2.3			2.3			2.0
Uranium oxide concentrate	(t)		970			1,008			966			1,044			866			866			970
Refined gold	(fine oz)		27,649			26,271			28,630			38,785			30,364			30,364			27,649
Refined silver	(koz)		190			212			253			317			254			254			190

Sales
Copper cathode (ER)	(kt)		26.8			43.3			47.5			54.2			36.6			36.6			26.8
Copper cathode (EW)	(kt)		2.1			2.8			2.5			3.0			2.5			2.5			2.1
Uranium oxide concentrate	(t)		930			1,037			732			1,426			848			848			930
Refined gold	(fine oz)		21,675			32,226			31,129			38,500			30,707			30,707			21,675
Refined silver	(koz)		176			177			262			367			227			227			176

(1) Material mined refers to run of mine ore mined and hoisted.
Pinto Valley, US ⁽¹⁾
Production
Payable copper	(kt)		10.9			1.6			—			—			—			—			10.9
Copper cathode (EW)	(kt)		0.8			0.1			—			—			—			—			0.8
Payable silver	(koz)		41			—			—			—			—			—			41
Payable gold	(oz)		49			—			—			—			—			—			49

Sales
Payable copper	(kt)		10.0			—			—			—			—			—			10.0
Copper cathode (EW)	(kt)		1.1			0.2			—			—			—			—			1.1
Payable silver	(koz)		41			—			—			—			—			—			41
Payable gold	(oz)		49			—			—			—			—			—			49

(1) On 11 October 2013 BHP Billiton completed the sale of its Pinto Valley operations.


BHP Billiton operational review for the quarter ended 30 September 2014		20

PRODUCTION AND SALES REPORT


	QUARTER ENDED										YEAR TO DATE
	SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Iron Ore
(kt)

Iron ore
Pilbara, Australia
Production ⁽¹⁾
Newman		12,196		12,483		15,470		16,766		16,707		16,707		12,196
Yarrie ⁽²⁾		202		428		206		—		—		—		202
Area C Joint Venture		11,814		11,383		11,282		12,481		13,265		13,265		11,814
Yandi Joint Venture		18,146		17,135		15,622		17,615		16,607		16,607		18,146
Jimblebar ⁽³⁾		700		1,702		2,721		3,740		3,971		3,971		700
Wheelarra ⁽⁴⁾		3,166		2,716		1,698		2,973		3,115		3,115		3,166

Total		46,224		45,847		46,999		53,575		53,665		53,665		46,224

Total production (100%)		54,258		53,638		54,812		62,369		62,436		62,436		54,258


Sales
Lump		10,292		9,996		11,230		11,572		12,766		12,766		10,292
Fines		35,283		35,756		35,880		40,834		41,633		41,633		35,283

Total		45,575		45,752		47,110		52,406		54,399		54,399		45,575

Total sales (100%)		53,561		53,808		55,018		61,015		63,303		63,303		53,561


(1) Iron ore production and sales are reported on a wet tonnes basis.
(2) Yarrie ceased production on 25 February 2014.
(3) Shown on 100% basis. BHP Billiton interest in saleable production is 85%.
(4) All production from Wheelarra is now processed via the Jimblebar processing hub.
Samarco, Brazil
Production ⁽¹⁾		2,729		2,841		2,281		3,068		3,426		3,426		2,729

Sales		2,676		3,025		2,036		3,077		3,303		3,303		2,676

(1) Iron ore production and sales are reported on a wet tonnes basis.


BHP Billiton operational review for the quarter ended 30 September 2014		21

PRODUCTION AND SALES REPORT


	QUARTER ENDED										YEAR TO DATE
	SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Coal
(kt)

Metallurgical coal
Queensland Coal
Production ⁽¹⁾
BMA
Blackwater		1,691		1,655		1,759		1,625		1,777		1,777		1,691
Goonyella		1,737		1,999		2,041		1,553		2,144		2,144		1,737
Peak Downs		1,112		1,201		1,314		1,282		1,144		1,144		1,112
Saraji		1,197		1,195		1,108		1,058		1,022		1,022		1,197
Gregory Joint Venture		464		850		654		997		808		808		464
Daunia		504		594		585		518		628		628		504
Caval Ridge		—		—		—		563		705		705		—

Total BMA		6,705		7,494		7,461		7,596		8,228		8,228		6,705


BHP Mitsui Coal ⁽²⁾
South Walker Creek		1,298		1,313		1,312		1,323		1,391		1,391		1,298
Poitrel		759		801		683		820		813		813		759

Total BHP Mitsui Coal		2,057		2,114		1,995		2,143		2,204		2,204		2,057

Total Queensland Coal		8,762		9,608		9,456		9,739		10,432		10,432		8,762


Sales
Coking coal		6,123		6,517		7,030		7,250		7,306		7,306		6,123
Weak coking coal		2,397		2,505		2,594		2,358		2,859		2,859		2,397
Thermal coal		160		271		122		134		43		43		160

Total		8,680		9,293		9,746		9,742		10,208		10,208		8,680


(1) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.
(2) Shown on 100% basis. BHP Billiton interest in saleable production is 80%.
Illawarra, Australia
Production ⁽¹⁾		1,423		1,932		2,011		2,147		2,337		2,337		1,423

Sales
Coking coal		1,084		1,495		1,581		1,761		1,617		1,617		1,084
Thermal coal		359		318		460		486		373		373		359

Total		1,443		1,813		2,041		2,247		1,990		1,990		1,443


(1) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.


BHP Billiton operational review for the quarter ended 30 September 2014		22

PRODUCTION AND SALES REPORT


		QUARTER ENDED										YEAR TO DATE
		SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Coal
(kt)

Energy coal
South Africa ⁽¹⁾
	Production		7,937		7,036		7,398		8,013		8,026		8,026		7,937

	Sales
	Export		2,504		4,087		3,179		3,528		3,739		3,739		2,504
	Local utility		4,543		3,811		3,478		4,498		4,367		4,367		4,543
	Inland		—		—		—		—		36		36		—

	Total		7,047		7,898		6,657		8,026		8,142		8,142		7,047


(1)	Shown on 100% basis. BHP Billiton interest in saleable production is 90%.
New Mexico, USA
	Production
	Navajo Coal ⁽¹⁾		1,670		1,400		975		1,082		1,243		1,243		1,670
	San Juan Coal		1,475		1,496		1,384		1,330		1,447		1,447		1,475

	Total		3,145		2,896		2,359		2,412		2,690		2,690		3,145


	Sales - local utility		3,129		2,950		2,360		2,382		2,723		2,723		3,129

(1)	BHP Billiton completed the sale of Navajo Mine on 30 December 2013. As BHP Billiton will retain control of the mine until full consideration is received, production will continue to be reported by the Group.
NSW Energy Coal, Australia
	Production		5,372		4,544		5,018		5,030		4,752		4,752		5,372

	Sales
	Export		4,037		4,887		4,346		4,548		4,787		4,787		4,037
	Inland		446		332		270		333		371		371		446

	Total		4,483		5,219		4,616		4,881		5,158		5,158		4,483


Cerrejón, Colombia
	Production		3,185		3,291		2,948		2,908		2,369		2,369		3,185

	Sales - export		3,155		3,067		2,647		2,858		3,077		3,077		3,155


BHP Billiton operational review for the quarter ended 30 September 2014		23

PRODUCTION AND SALES REPORT


	QUARTER ENDED										YEAR TO DATE
	SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Aluminium, Manganese and Nickel
(kt)

Alumina
Saleable production
Worsley, Australia		946		1,024		936		1,010		893		893		946
Alumar, Brazil		305		328		314		315		342		342		305

Total		1,251		1,352		1,250		1,325		1,235		1,235		1,251


Sales
Worsley, Australia		897		961		986		1,020		875		875		897
Alumar, Brazil		278		320		262		388		323		323		278

Total		1,175		1,281		1,248		1,408		1,198		1,198		1,175


Aluminium
Production
Hillside, South Africa		184		183		172		176		180		180		184
Bayside, South Africa ⁽¹⁾		24		24		23		18		—		—		24
Alumar, Brazil		35		28		26		15		13		13		35
Mozal, Mozambique		67		67		65		67		68		68		67

Total		310		302		286		276		261		261		310


Sales
Hillside, South Africa		180		173		187		168		174		174		180
Bayside, South Africa ⁽¹⁾		24		24		24		24		—		—		24
Alumar, Brazil		34		28		25		17		15		15		34
Mozal, Mozambique		68		74		72		62		64		64		68

Total		306		299		308		271		253		253		306


(1) Aluminium smelting at Bayside ceased with the closure of the final potline in June 2014.
Manganese ores
Saleable production
South Africa ⁽¹⁾		864		944		782		936		1,049		1,049		864
Australia ⁽¹⁾		1,182		1,256		1,019		1,319		1,210		1,210		1,182

Total		2,046		2,200		1,801		2,255		2,259		2,259		2,046


Sales
South Africa ⁽¹⁾		920		714		915		931		999		999		920
Australia ⁽¹⁾		1,078		1,445		1,252		1,288		1,224		1,224		1,078

Total		1,998		2,159		2,167		2,219		2,223		2,223		1,998


Manganese alloys
Saleable production
South Africa ^(1) (2)		86		94		91		106		112		112		86
Australia ⁽¹⁾		51		72		71		75		59		59		51

Total		137		166		162		181		171		171		137


Sales
South Africa ^(1) (2)		88		87		113		112		115		115		88
Australia ⁽¹⁾		54		63		85		74		56		56		54

Total		142		150		198		186		171		171		142

(1)	Shown on 100% basis. BHP Billiton interest in saleable production is 60%, except Hotazel Manganese Mines which is 44.4%.

(2)	Production includes Medium Carbon Ferro Manganese.


BHP Billiton operational review for the quarter ended 30 September 2014		24

PRODUCTION AND SALES REPORT


	QUARTER ENDED										YEAR TO DATE
	SEP 2013		DEC 2013		MAR 2014		JUN 2014		SEP 2014		SEP 2014		SEP 2013

Aluminium, Manganese and Nickel
(kt)

Nickel
Cerro Matoso, Colombia
Production		12.0		12.3		9.8		10.2		10.7		10.7		12.0

Sales		12.6		12.3		10.0		10.2		10.5		10.5		12.6

Nickel West, Australia
Saleable production
Nickel contained in concentrate		3.4		2.4		2.5		1.6		2.2		2.2		3.4
Nickel contained in finished matte		8.8		6.1		6.1		4.4		9.1		9.1		8.8
Nickel metal		16.2		17.0		15.7		14.7		13.7		13.7		16.2

Nickel production		28.4		25.5		24.3		20.7		25.0		25.0		28.4


Sales
Nickel contained in concentrate		2.7		2.8		2.3		1.6		2.1		2.1		2.7
Nickel contained in finished matte		7.8		7.4		5.3		6.2		6.6		6.6		7.8
Nickel metal		15.3		17.2		16.7		14.4		11.9		11.9		15.3

Nickel sales		25.8		27.4		24.3		22.2		20.6		20.6		25.8


BHP Billiton operational review for the quarter ended 30 September 2014		25

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.