Email Facebook Twitter

RNS EXCLUSIVE: Cabot praise 3D seismic mapping after successful winter programme

BHP Billiton Share News (BLT)

Stock Market news at - RSS News Feeds

Share News for BHP Billiton (BLT)

Share Price: 1,443.20Bid: 1,443.40Ask: 1,443.80Change: 0.00 (0.00%)No Movement on Bhp Billiton
Spread: 0.40Spread as %: 0.03%Open: 1,431.60High: 1,459.60Low: 1,429.20Yesterday’s Close: 1,443.20

UPDATE 1-BHP to suspend Australia manganese operation

Thu, 23rd Feb 2012 01:58

SYDNEY, Feb 23 (Reuters) - BHP Billiton will suspend production at its TE
MCO manganese alloy smelter in Tasmania, Australia by early to mid-March and conduct a review of the business, citing stiff international competition and rising operating costs, the company said on Thursday.

'Recently, there has been further erosion of its international competitiveness due to the strong Australian dollar and steady increases in input costs, including in reductants and electricity,' the company said in a statement.

At the same time, manganese alloy markets in Europe and North America have been weak and global prices remain low, it said.

BHP is the world's largest producer of manganese, used to strengthen steel, mining 3.25 million tonnes of ore from operations in Australia and South Africa in the December 2011 half-year period.

The weak market situation for manganese was being exacerbated by a large stockpile of ore at Chinese ports and poor demand for steel long products, according to metals traders.

'While measures have been taken to make the operation as cost effective as possible, these have not been sufficient to counter shifts in the market, increased costs of production, or operating losses,' BHP said.

Over the next three months, BHP said it will review the long-term future of the operation.

Permanent employees of TEMCO will not be immediately affected by the suspension, though the number of outside contractors working at the facility will be cut, BHP said.

The operation began production in 1962 and remains the only manganese ferroalloy plant in Australia. It incorporates four furnaces and a sinter plant and produces high-carbon ferromanganese, silicomanganese and sinter. Production has run as high as a quarter-million tonnes per year.

BHP also mines manganese on the Australian mainland and in South Africa.

Roughly 80 percent of manganese ore production is sold directly to external customers. The remainder is fed to the TEMCO smelter and another facility in Meyerton, South Africa, according to BHP.

BHP earlier this month cited a 22 percent decline in ore prices and a 10 percent decline in alloy prices as a 'major drag on profitability' of its manganese division in the half-year period to December 31, 2011.

Recovery, particularly of the construction industries in Europe and North America, could lead to a firming of manganese ferroalloy prices starting in 2013, according to a report this month by London-based Roskill Information Services.

(Reporting by James Regan; Editing by Michael Urquhart) Keywords: AUSTRALIA BHP/

( 9373-1814)(Reuters Messaging:

Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Chile's Escondida invites union to early labor talks

By Fabian CamberoLIMA, March 14 (Reuters) - BHP's Escondida copper mine in Chile, the world's largest, said on Wednesday that it has invited its power
[14 Mar '18 22:08]

UPDATE 1-Britain's FTSE gives up gains as trade war worries irk Wall Street

* FTSE 100 down 0.1 pct* Prudential jumps after insurer announces demerger* Morrison's shares reverse course after results (Adds comments, context)By
[14 Mar '18 17:12]

BUZZ-Goldman says European mining companies are "attractive"

** Goldman Sachs raises its view on European miners to "attractive" from "neutral", says the sector is on its strongest footing in many years** The co
[14 Mar '18 13:53]

Britain's FTSE gains thanks to miners, Prudential

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.3 pct, mid caps gain 0.1 pct* Prudential jumps after insurer a
[14 Mar '18 10:23]

CERAWEEK-U.S. states slow Trump offshore oil drilling expansion plan

By Jessica Resnick-AultHOUSTON, March 12 (Reuters) - The Trump administration's plan to broadly expand drilling in U.S. offshore waters is moving slow
[12 Mar '18 16:23]

LIVE MARKETS-European shares cautiously in the red

LONDON, March 9 (Reuters) - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and ancho
[9 Mar '18 08:52]

LIVE MARKETS-Hedge fund shorting of European equities at five-year high

LONDON, March 9 (Reuters) - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and ancho
[9 Mar '18 08:26]

LIVE MARKETS-No panic in Europe as Trump follows through on steel tariffs

LONDON, March 9 (Reuters) - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and ancho
[9 Mar '18 07:50]

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.