This report covers the Group’s exploration and development activities for the June 2012 quarter. Unless otherwise stated, BHP Billiton’s interest in the projects referred to in this report is 100 per cent and references to project schedules are based on calendar years.
Development
BHP Billiton’s proven strategy to invest in large, long life, low cost, expandable, upstream assets, diversified by commodity, geography and market ensures we are well positioned to maintain strong momentum and returns in our major businesses, despite significant volatility in the external environment.
In the 2012 financial year, six major projects delivered first production while a total investment commitment of US$7.5 billion (BHP Billiton share) enabled another eight major projects to move into execution. In addition, US$2.7 billion (BHP Billiton share) of pre-commitment funding was approved to further progress a series of
development options.
The six projects to deliver first production included: Western Australia Iron Ore (WAIO) Rapid Growth Project 5 (iron ore); Antamina Expansion and Escondida Ore Access (both copper); Worsley Efficiency & Growth (alumina);
North West Shelf CWLH Life Extension (oil); and the RX1 Project (energy coal). The Antamina Expansion, Escondida Ore Access and RX1 projects will not be reported in future Exploration and Development Reports.
The eight projects that moved into execution span the ferrous, non-ferrous and energy product groups and included: WAIO Orebody 24 (iron ore); Caval Ridge and Appin Area 9 (both metallurgical coal); Escondida Organic
Growth Project 1 and Escondida Oxide Leach Area Project (both copper); North West Shelf Greater Western Flank-A (LNG); Cerrejon P40 Project and the Newcastle Third Port Project Stage 3 (both energy coal).
During the June 2012 quarter, BHP Billiton announced approval of the Illawarra Coal Appin Area 9 project and precommitment
funding of US$708 million (BHP Billiton share) for the Mad Dog Phase 2 project in the deepwater Gulf of Mexico (oil and gas).
BHP Billiton’s Onshore US drilling and development expenditure totalled US$3.3 billion in the 2012 financial year.

 Robust operating performance in a challenging environment with annual production records achieved across ten operations.
 Twelfth consecutive annual production record in iron ore as Western Australia Iron Ore shipments rose to an annualised rate of 179 million tonnes in the June 2012 quarter (100% basis).
 Record annual metallurgical coal production achieved at Illawarra Coal. Queensland Coal production remained constrained as a result of industrial action and heavy rainfall.
 The successful integration and further development of our Onshore US shale liquids and gas assets contributed to a 40% increase in petroleum production in the 2012 financial year.
 An 11% increase in copper production in the June 2012 quarter established strong momentum in our Base Metals business.

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