3rd Qrtr Rslts, etc-Pt.2

Broken Hill Proprietary Co Ld
9 May 2000

Part 2
                                     -11-

Consolidated Financial Results - Quarter

                                                       Quarter ended
                                                  March     February
                                                  2000         1999    Change
Operating revenue                               $ Million   $ Million      %

  Sales                                             5 123      4 479    +14.4
  Interest revenue                                     12         56    -78.6
  Other revenue                                       290      1 267    -77.1
                                                    5 425      5 802     -6.5

Operating profit including abnormal items, before
depreciation, amortisation and borrowing costs        465      1 247    -62.7

Deduct : Depreciation and amortisation                582        566     +2.8
               Borrowing costs (1)                    156        170     -8.2
* Operating (loss)/profit before income tax (a)      (273)       511 

Add/(Deduct): **Income tax benefit/(expense)
               attributable to operating proft (a)    224       (108)

Operating (loss)/profit after income tas              (49)       403

Add:  outside equity interests in operating (loss)/
      profit after income tax                           3         15

Operating (loss)/profit after income tax,
attributable to members of the BHP entity             (46)       418

(a)  The operating profit after income tax, attributable 
     to members of the BHP Entity comprises:

*    Operating profit before abnormal items
     and income tas                                    865       181    +377.9
**   Income tax expense attributable to
     operating profit before abnormal items           (310)     (150)

Operating profit after income tax before
abnormal items                                         555        31    +1690.3

Outside equity interests in operating profit after
income tax before abnormal items                         3        15

Operating profit after income tax, before 
abnormal items, attributable to members of
the BHP Entity                                         558        46   +1113.0

*  Abnormal items included in operating
   profit before income tax                         (1 138)      330
** Abnormal income tax benefit                         534        43
Abnormal items after income tax                       (604)      372

Operating (loss)/profit after income tax/
attributable to members of the BHP Entity              (46)      418

Average A$/US$ hedge settlement rate                    63 c     63 c
(1) 
      Excludes capitalised interest of                    -     $52m


                                       
                                        -12-

Revenue

Sales revenue of $5 123 million increased by $644 million or 14.4% compared with
the corresponding period.  Other revenue, including interest income, decreased
by $1 021 million, reflecting lower proceeds from asset sales.  Total operating
revenue decreased by $377 million to $5 425 million.


Depreciation and Amortisation

Depreciation and amortisation charges increased by $16 million to $582 million.
The charge for the quarter reflects higher depreciation following commissioning
of the Laminaria and Buffalo oil fields, and higher Petroleum production.  The
corresponding period included depreciation on businesses now closed, ceased or
sold.


Borrowing costs

Borrowing costs decreased by $14 million to $156 million, mainly due to lower
funding levels partly offset by lower capitalised interest and higher interest
rates in the US and Australia.


Income Tax Expense

Excluding abnormal items, income tax expense of $310 million was $160 million
higher than for the corresponding period.  The charge for the quarter
represented an effective tax rate of 35.8% (February 1999 quarter - 82.9%) which
approximates the nominal Australian tax rate of 36%.



                                     -13-

Consolidated Financial Results - Year to date

                                                Ten months ended 31 March

                                               2000        1999      Change
                                           $ Million    $ Million         %

Operating revenue 
     Sales                                  16 042       16 037
     Interest revenue                           64          167       -61.7
     Other revenue                           1 217        1 807       -32.7
                                            17 323       18 011        -3.8

Operating profit including abnormal items,
before depreciation, amortisation and 
borrowing costs                              3 451        3 856       -10.5

Deduct : Depreciation and amortisation       1 721        1 820        -5.4
         Borrowing costs (1)                   566          596        -5.0
*Operating profit before income tax (a)      1 164        1 440        -19.2

Add/(Deduct): ** Income tax benefit/(expense)
                 attributable to operating 
                 profit (a)                     21         (563)

Operating profit after income tax            1 185          877       +35.1

Add: Outside equity interests in operating
     profit after income tax                    25            -

Operating profit after income tax,
attributable to members of the BHP entity    1 210          877       +38.0

(a)  The operating profit after income tax, 
     attributable to members of the BHP Entity
     comprises:
*    Operating profit before abnormal items
     and income tax                          2 222        1 110       +100.2

**  Income tax expense attributable to
    operating before abnormal items           (785)        (605)

Operating profit after income tax before
abnormal items                               1 437          505       +184.6

Outside ewquity interests in operating 
profit after income tax before abnormal items   25            -

Operating profit after income tax, before
abonormal items, attributable to members of
the BHP Entity                               1 462          505       +189.5

*  Abnormal items included in operating
   profit before income tax                 (1 058)         330
** Abnormal income tax benefit                 806           42
Abnormal items after income tax               (252)         372 

Operating proft after income tax,
attributable to members of the BHP entity    1 210          877       +38.0

Average A$/US$ hedge settlement rate           64 c         62 c  
(1) 
    Excludes capitalised interest of          $18m         $189m
   


                                       -14-

Statutory Information 
                                            Quarter ended        Year to date
                                            March    February    March   March
                                            2000       1999      2000    1999

Basic earnings per share (cents)(1)
- Excluding abnormal items                   31.4      2.6        82.8    29.2
- Including abnormal items                   (2.6)    24.0        68.5    50.7

Basic earnings per American Depositary
Share (US cents) (2)
- Excluding abnormal items                   38.1      3.2       100.4    37.0
- Including abnormal items                   (3.2)    29.8        83.0    64.3

(1)  Based on operating profit after income tax attributable to members of the
BHP Entity divided by the weighted average number of fully paid ordinary shares.
 The weighted average number of shares was 1,776,451,780 (1999 - 1,739,022,648)
for the quarter and 1,765,268,662 (1999 - 1-729,865,892) for the ten months. 
The weighted average number of shares for the comparative quarter and year to
date excludes 338,066,630 shares held by the Beswick Group which were brought
back and cancelled in March 1999.

 
(2)  Each American Depositary Share (ADS) represents two fully paid ordinary
shares.  Translated at the noon buying rate on Friday 31 March 2000 as certified
by the Federal Reserve Bank of New York A$1=US$0.6062 (1999 A$1=US$0.6340).  For
the February 1999 quarter, the noon buying rate on Friday 26 February 1999 was
A$1=US$0.6205.

Financial Data

The financial data upon which this report has been based complies with the
requirements of the Corporations Law, with all applicable Australian Accounting
Standards and Urgent Issues Group Consensus Views, and gives a true and fair
view of the matters disclosed.  The results are unaudited.  The Company has a
formally constituted Audit Committee of the Board of Directors.

This report is made in accordance with a resolution of the Board of Directors.

                                                          R A St John
                                                       Company Secretary
                                                  The Broken Hill Proprietary
                                                        Company Limited

                                  ******

For information contact:

Media Relations:                      Mandy Frostick:
                                      (BH)     (61 3)     9609 4157
                                      (AH):    (61 3)     9687 6651
                                      Mobile:  (61)       0419 546 245
                                      Email:     [e-mail]

Investor Relations:                   Robert Porter:
                                      (BH)     (61 3)     9609 3540
                                      Email:     [e-mail]

                                      Pierre Hirsch:
                                      (BH)     (1 415)     774 2030
                                      Email:     [e-mail]



                                      -15-

Supplementary Information - Segment Results (Quarter)

Quarterly comparison - March 2000 with February 1999 (1)(2)


Quarter ended 31 March 2000

     Operating Revenue (3)
           $Million


           Other
Sales     revenue     Total
1 957        220      2 177 Minerals
1 815         39      1 854 Steel
1 385         16      1 401 Petroleum
  385         14        399 Services
    -          9          9 Net unallocated interest
  (67)         4        (63)Group and unallocated items(7)
5 123        302      5 425 BHP Group

 
                                                  Operating Profit
                                                      $Million
 
                                       EBITDA(4)  Dep'n & Borrowing
                                                  amort'n      costs   EBIT(5)

Minerals                                  639        (200)        -       439
Steel                                     306        (132)        -       174
Petroleum                                 766        (239)        -       527
Services                                    6          (9)        -        (3)
Net unallocated interest                    9           -      (156)     (147)
Group and unallocated items(7)           (123)         (2)        -      (125)
BHP Group                               1 603        (582)     (156)      865


                                        Income     Abnormal     Operating
                                           tax        items        profit
                                     excluding        after     including
                                      abnormal       income     abnormals
                                         items       tax(9)     after tax

Minerals                                 (141)        (794)         (496)
Steel                                     (47)           -           127
Petroleum                                (192)           -           335
Services                                    1            -            (2)
Net unallocated interest                   35            -          (112)
Group and unallocated items(7)             34          190            99
BHP Group                                (310)        (604)          (49)



Quarter ended 28 February 1999

Operating Revenue(3)
    $Million

           Other
Sales     revenue     Total
2 185      674        2 859 Minerals
1 720       53        1 773 Steel
  662       62          724 Petroleum
  497      506        1 003 Services
    -       27           27 Net unallocated interest
 (115)       1         (114)Group and unallocated items(7)
4 479    1 323        5 802 BHP Group


                                                  Operating Profit
                                                      $Million
 
                                         EBITDA(4) Dep'n & Borrowing
                                                  amot'n     costs(8) EBIT(5)

Minerals                                  473       (226)        -       247
Steel                                     175       (119)        -        56
Petroleum                                 333       (201)        -       132
Services                                   36        (17)        -        19
Net unallocated interest                   27          -      (170)     (143)
Group and unallocated items(7)           (127)        (3)        -      (130)
BHP Group                                 917       (566)     (170)      181


                                        Income     Abnormal     Operating
                                           tax        items        profit
                                     excluding        after     including
                                      abnormal       income     abnormals
                                         items       tax(9)     after tax

Minerals                                 (146)         193           294
Steel                                      (9)           -            47
Petroleum                                 (47)           -            85
Services                                    6          173           186
Net unallocated interest                   16            -          (127)
Group and unallocated items(7)             42            6           (82)
BHP Group                                (150)         372          403


(1) Before outside equity interest.
(2) Comparative figures have been restated to reflect the transfer of internal
currency hedging results from Minerals, Steel, and Petroleum to Group and
unallocated items. The results of internal currency hedging activities eliminate
within Group and unallocated items.
(3) Operating revenues do not add to the BHP Group figure due to intersegment
transactions.
(4) EBITDA is earnings before borrowing costs, income tax, and depreciation and
amortisation.
(5) Result for all Businesses except Net unallocated interest is EBIT (earnings
before borrowing costs and income tax).
(6) Tax benefit on March 2000 abnormal items: Minerals $344 million and Group
and unallocated items $190 million.
(7) Includes consolidation adjustments and unallocated items.
(8) Following adoption of AASB 1036: Borrowing costs, February  1999 figures
have been restated to include ancillary borrowing costs within Net unallocated
interest. These costs were previously included in Business results. 
(9) Tax benefit (expense) on February 1999 abnormal items: Minerals $44 million,
Services $1 million and Group $(3) million.

MORE TO FOLLOW


QRTIIFSREVIAIII