Prelim Rslts Y/E 30/06/01-PT3

BHP Billiton Limited
20 August 2001


PART 3

                                 BHP BILLITON

             PRELIMINARY RESULTS FOR THE YEAR ENDED 30 JUNE 2001


                                    PART C

                          BHP BILLITON GROUP RESULTS



                        Part C2: Financial Information

Status of financial information

On 29 June 2001, BHP Billiton Plc (previously known as Billiton Plc) and BHP
Billiton Limited (previously known as BHP Limited) entered into a dual listed
companies ('DLC') merger. This was effected by contractual arrangements
between the companies and amendments to their constitutional documents.


The effect of the DLC merger is that BHP Billiton Plc and its subsidiaries and
BHP Billiton Limited and its subsidiaries operate together as a single
economic entity ('the BHP Billiton Group'), with neither assuming a dominant
role. Under the arrangements:

  * The shareholders of BHP Billiton Plc and BHP Billiton Limited have a
    common economic interest in both groups
  * The shareholders of BHP Billiton Plc and BHP Billiton Limited take key
    decisions, including the election of directors, through a joint electoral
    procedure under which the shareholders of the two companies effectively
    vote on a joint basis
  * BHP Billiton Plc and BHP Billiton Limited have a common board of
    directors, a unified management structure and joint objectives
  * Dividends and capital distributions made by the two companies will be
    equalised.


The DLC merger did not involve the change of legal ownership of any assets of
BHP Billiton Plc or BHP Billiton Limited, any change of ownership of any
existing shares or securities of BHP Billiton Plc or BHP Billiton Limited, the
issue of any shares or securities or any payment by way of consideration, save
for the issue by each company of one special voting share to a trustee company
which is the means by which the joint electoral procedure is operated. In
addition, to achieve a position where the economic and voting interests of one
share in BHP Billiton Plc and one share in BHP Billiton Limited were
identical, BHP Billiton Limited made a bonus issue of ordinary shares to the
holders of its ordinary shares.

Under UK GAAP, the DLC merger is treated as a business combination because a
single economic entity has been formed, even though BHP Billiton Plc and BHP
Billiton Limited remain separate legal entities. The consolidated financial
statements of BHP Billiton Plc therefore include BHP Billiton Limited and its
subsidiary companies in accordance with the requirements of s227(5) of the
Companies Act 1985. The DLC merger is accounted for using the merger method of
accounting in accordance with UK accounting standards.

The financial information in this Part of the preliminary announcement has
been prepared on this basis. The financial information prepared on the basis
that the DLC merger had not been consummated prior to 30 June 2001 (except
that merger related costs have been recognised) and which therefore does not
include BHP Billiton Limited and its subsidiaries is set out in Part E of this
preliminary announcement 'BHP Billiton Plc Group Pro forma Results: year ended
30 June 2001'.

The figures for the two years ended 30 June 2001 and 30 June 2000 are
unaudited and do not constitute the BHP Billiton Plc's statutory accounts. The
statutory accounts for the year ended 30 June 2001 will be provided on the
basis of the financial information presented by the directors in this Part of
this preliminary announcement and will be delivered to the Registrar of
Companies following the Annual General Meeting. The statutory accounts for the
year ended 30 June 2000 received an unqualified audit report without
statements under section 237 of the Companies Act 1985 and have been filed
with the Registrar of Companies.

Basis of presentation of financial information

The financial information is presented in accordance with UK generally
accepted accounting principles. The reporting currency is US dollars, the
dominant currency in which BHP Billiton Plc and the companies in which it has
holdings operate.

The financial information in this Part of the preliminary announcement has
been prepared on the same basis and using the same accounting policies as were
used in preparing the financial statements for the year ended 30 June 2000,
except that the BHP Billiton Group has adopted two changes to its accounting
policies for deferred tax and exploration costs principally to align policies
between BHP Billiton Plc and BHP Billiton Limited.

Deferred tax

The Group has adopted FRS 19 ('Deferred tax'). Prior to the adoption of FRS
19, the BHP Billiton Group provided for deferred taxation under the liability
method, only to the extent that it was probable that a liability or asset
would crystallise in the foreseeable future. As a result of FRS19, the new
policy requires that full provision is made for deferred taxation on all
timing differences which have arisen but have not reversed at balance sheet
date, except as follows:

  * Tax payable on the future remittance of the past earnings of
    subsidiaries, associates and joint ventures is provided only to the extent
    that dividends have been accrued as receivable or a binding agreement to
    distribute all past earnings exists;

  * Deferred tax is not recognised on the difference between book values and
    fair values of non-monetary assets arising on acquisitions unless there is
    a binding agreement to sell such an asset and the gain or loss expected to
    arise has been recognised; and

  * Deferred tax assets are recognised only to the extent that it is more
    likely than not that they will be recovered.

The adoption of the new policy, which has been made by way of an adjustment to
previously published results as though the revised policy had always been
applied by the BHP Billiton Group, has had the following effects:


  * The previously published figures at 1 July 1999 and 30 June 2000 have
    been restated as follows:


 a. deferred tax has been increased by US$288 million and US$294 million
    respectively;

 b. goodwill has been increased by US$111 million and US$104 million
    respectively due to increased deferred tax liabilities at the date of
    acquisition of businesses; and

 c. investments in joint ventures have been reduced by US$49 million and US$49
    million respectively

    resulting in decreases in shareholders' funds of US$189 million and US$200
    million after taking account of minority interests of US$37 million and
    US$39 million respectively;


  * Operating profit and the tax charge on profits from ordinary activities
    for the year ended 30 June 2000 have been decreased by US$7 million and
    increased by US$6 million respectively from the figures previously
    published, resulting in profit after tax and attributable profit being
    decreased by US$13 million and US$11 million respectively; and


  * The impact on the current year operating profit and charge for taxation
    is a decrease of US$7 million and of US$58 million respectively, resulting
    in attributable profit being increased by US$37 million, of which US$18
    million is attributable to exceptional items.

Exploration costs

Prior to the DLC merger, BHP Billiton Plc's and BHP Billiton Limited's
policies for the treatment of exploration expenditure had a broadly similar
effect in that expenditure incurred prior to a project being considered to be
commercially viable was effectively recognised as a charge in the profit and
loss account. Expenditure incurred subsequent to the determination of
commercial viability was capitalised. However, BHP Billiton Plc's policy
required the write back of provisions established prior to a project being
considered to be commercially viable to the extent that the relevant costs
were recoverable whereas BHP Billiton Limited was precluded under Australian
GAAP from writing back expenditure previously charged to the profit and loss
account.

In order to conform policies, it has been agreed that BHP Billiton Plc's
policy be changed to preclude the write back of costs previously recognised in
the profit and loss account when a project is considered to have become
commercially viable.

The adoption of the new policy, which has been made by way of an adjustment to
previously published results as though the revised policy had always been
applied by the BHP Billiton Group, has had the following effects:

  * Exploration expenditure at 1 July 1999 and 30 June 2000 and
    shareholders' funds as at those dates have been reduced by US$15 million;

  * The current year exploration cost has been reduced by US$5 million and
    profit after tax has been increased by the same amount.

consolidated profit and loss account
for the year ended 30 June 2001

                            2001                          2000
              before                   after    before                after
              excep-      excep-      excep-    excep-  excep-       excep-
              tional      tional      tional    tional  tional       tional 
               items       items       items     items   items        items
                US$m        US$m        US$m      US$m    US$m         US$m
                          Note 1                        Note 1

Turnover      19,079           -      19,079    18,402       -        18,402
(including 
share
of joint
ventures and
associates) (a)

Less: share 
of           (1,290)           -     (1,290)     (987)       -         (987)
joint 
ventures
and 
associates

Group 
turnover      17,789           -      17,789    17,415       -        17,415
(excluding 
share
of joint 
ventures
and 
associates)

Net 
operating   (14,551)        (60)    (14,611)  (14,777)   (695)      (15,472)
costs (b)

Group          3,238        (60)       3,178     2,638   (695)         1,943
operating
profit

Share of         281       (634)       (353)       239       -           239
operating profit/
(loss) of joint
ventures and
associates (b)
Operating 
profit         3,519       (694)       2,825     2,877   (695)         2,182
(including 
share
of joint 
ventures
and 
associates) (a)
Income from       32           -          32        20       -            20
other fixed
asset
investments
Profit on sale    72         128         200       124       -           124
of fixed                                                    
assets
Profit/(loss)      4           -           4         6     (4)             2
on sale of
subsidiaries
Loss on            -       (430)       (430)         -       -             -
termination of
operations (c)
Costs of           -           -           -         -    (61)          (61)
fundamental
reorganisations
Merger             -        (92)        (92)         -       -             -
transaction
costs
Net interest   (407)         (6)       (413)     (446)       -         (446)
and similar
items payable -
Group
Net interest 
and             (63)           -        (63)      (43)       -          (43)
similar items
payable - Joint
ventures and
associates
Profit before  3,157     (1,094)       2,063     2,538   (760)         1,778
taxation
Taxation       (943)         132       (811)     (774)     523          (251)
Profit after   2,214       (962)       1,252     1,764   (237)          1,527
taxation
Equity          (25)         302         277      (21)       -           (21)
minority
interests
Attributable   2,189       (660)       1,529     1,743   (237)          1,506
profit
Dividends to   (754)                   (754)     (788)                  (788)
shareholders
Retained 
profit         1,435       (660)         775       955   (237)            718
for the
financial year
Earnings per    36.8      (11.1)        25.7      30.4   (4.1)           26.3
ordinary share
(basic) (US
cents) (d)
Earnings per    36.6      (11.0)        25.6      30.4   (4.1)           26.3
ordinary share
(diluted) (US
cents) (d)
Dividend per
ordinary share
BHP Billiton                            12.0                            11.25
Plc (US cents)
BHP Billiton                            51.0                             51.0
Limited
(Australian
cents) -
excluding bonus
issue
- including bonus                       24.7                             24.7
issue

(a) Included within turnover and operating profit is US$1,146 million and US$88
million respectively attributable to acquisitions.

(b) In the year ended 30 June 2001, the exceptional share of operating losses of
joint ventures and associates includes the impairment of HBI Venezuela. In the
year ended 30 June 2000, the exceptional operating costs relate to
the impairment of HBI Western Australia.

(c) In the year ended 30 June 2001, the exceptional loss on termination of
operations relates to Ok Tedi.

(d) Earnings per ordinary share is stated after taking account of the BHP
Billiton Limited bonus issue.

Attributable profit represents the profit for the financial period.

All amounts are derived from continuing activities.

There is no material difference between the historical cost profits and losses
and the profits and losses as presented in the

consolidated statement of total recognised gains and losses
for the year ended 30 June
2001

                                 Group       Joint ventures        Total
                                                        and
                                                 associates

                                 2001   2000 2001         2000  2001    2000
                                 US$m   US$m US$m         US$m  US$m    US$m

Attributable profit for         1,964  1,367 (435)          139 1,529   1,506
the financial period
Exchange gains and
losses on foreign
currency
net investments                 (712)  (469)  (51)         (33) (763)   (502)
Total recognised gains          1,252    898 (486)          106   766   1,004
for the period
Prior year adjustment
arising from the
implementation
of revised accounting
policies:
- Deferred taxation             (171)         (29)              (200)
- Exploration                    (15)            -               (15)
Total recognised gains          1,066        (515)                551
since last annual report

consolidated
balance sheet
as at 30 June
2001

                                      2001                              2000
                                                                 as restated
                                      US$m                              US$m

Fixed assets

Intangible                              95                               127
assets -
goodwill
Intangible assets -                   (36)                              (53)
negative goodwill
                                        59                                74
Tangible assets                     19,231                            18,580
Investments -                        1,011                               531
joint ventures
Investments - - share                2,816                             1,962
of gross assets
Investments - - share              (1,805)                           (1,431)
of gross liabilities
Investment -                            58                                 -
associates
Investment - loans to joint            911                               573
ventures and associates and
other investments
                                    21,270                            19,758

Current assets
Stocks                               1,675                             1,819
Debtors                              3,583                             4,216
Investments                            215                               111
Cash including money                 1,285                             1,431
market deposits
                                     6,758                             7,577

Creditors: amounts                 (5,235)                           (5,577)
falling due within
one year
Net current                          1,523                             2,000
assets
Total assets less                   22,793                            21,758
current liabilities
Creditors: amounts falling         (7,054)                           (5,703)
due after more than one year
Provisions for                     (4,019)                           (4,342)
liabilities and
charges
Net assets                         11,720                            11,713
Equity minority                     (380)                             (677)
interests
Attributable net                   11,340                            11,036
assets
Capital and
reserves
Called up share
capital
- BHP Billiton                      1,160                             1,069
Plc
Share premium                         592                                27
account
Contributed
Equity
- BHP Billiton                      3,039                             4,260
Limited
Profit and loss                     6,549                             5,798
account
Interest in shares of                   -                             (118)
BHP Billiton Plc
Equity                             11,340                            11,036
shareholders'
funds

The interest in shares of BHP Billiton Plc held under the share repurchase
scheme as at 30 June 2000 was deducted from capital and reserves in order to
show a true and fair view.



consolidated statement of cash flows
for the year ended 30 June 2001

                                            2001                        2000
                                            US$m                        US$m

Net cash inflow from                       4,805                       4,444
Group operating
activities
Dividends received from joint                154                         127
ventures and associates
Returns on investments and                 (535)                       (662)
servicing of finance
Taxation                                   (587)                       (532)
Capital expenditure                      (3,427)                     (1,270)
and financial
investment
Acquisitions and                         (1,636)                         349
disposals
OneSteel spin out                            344                           -
Other acquisitions and                   (1,980)                         349
disposals
Equity dividends                           (751)                       (361)
paid
Net cash flow before management of       (1,977)                       2,095
liquid resources and financing
Management of liquid                         242                       (252)
resources
Financing                                  1,763                     (1,517)
Issue of shares/Share                        937                         132
Repurchase Scheme
Debt                                         826                     (1,649)
Increase in cash                              28                         326
in the year

Reconciliation of net cash flow to movement in net debt

Increase in cash                              28                         326
in the year
Cash flow from debt                        (826)                       1,649
and lease financing
Cash flow from management of               (242)                         252
liquid resources
Change in net debt                       (1,040)                       2,227
arising from cash
flows
Loans acquired with                        (665)                           -
subsidiaries
Other non-cash                                 -                           7
movements
Exchange                                     476                         489
adjustments
Movement in net                          (1,229)                       2,723
debt
Net debt at start                        (6,092)                     (8,815)
of year
Net debt at end                          (7,321)                     (6,092)
of year
note 1. exceptional
items

                                                    Gross         Tax    Net
                                                     2001        2001   2001
                                                     US$m        US$m   US$m

Carbon steel                Equalisation of           128           -    128
materials                   Queensland Coal
                            Interests
                                                      128           -    128

Base metals                 Ok                      (430)          14  (416)
                            Tedi
                            (a)

                                                    (430)          14  (416)
Group and                                            (92)           -   (92)
unallocated items
                                                     (92)           -   (92)
Group and                   Income tax                           (33)   (33)
unallocated items           audit
                                                                 (33)   (33)
Restructuring costs and
provisions:
Steel                                                (22)           7   (15)
Merger related
costs:
Base metals                                           (7)           2    (5)
Exploration, technology and                           (7)           1    (6)
new business
Group and                                            (22)           6   (16)
unallocated items
Net interest                                          (6)           -    (6)
                                                     (64)          16   (48)
Write down in carrying value of
assets and provisions

Carbon steel                HBI                     (180)           -  (180)
materials                   Venezuela
                            (c)
Energy coal                 Lake                     (26)           6   (20)
                            Mines
Other activities            Columbus JV             (114)          30   (84)
                            (b)
Group and                   HBI                     (340)         110  (230)
unallocated items           Venezuela
                            (c)
                                                    (660)         146  (514)
Sale of expansion
rights
Aluminium                   Mozal                      61        (21)     40
                            II
                                                       61        (21)     40
Executive share awards
accelerated by merger
Aluminium                                             (8)           2    (6)
Base metals                                           (1)           -    (1)
Carbon steel                                          (6)           2    (4)
materials
Stainless steel                                       (5)           1    (4)
materials
Energy coal                                           (8)           2    (6)
Exploration, technology and                           (6)           2    (4)
new business
Group and                                             (3)           1    (2)
unallocated items
                                                     (37)          10   (27)
Total by category                                 (1,094)         132  (962)

                                                    Gross         Tax    Net
Exceptional items by                                 2001        2001   2001
customer sector group
                                                     US$m        US$m   US$m
Aluminium                                              53        (19)     34
Base metals (a)                                     (438)          16  (422)
Carbon steel                                         (58)           2   (56)
materials
Stainless steel                                       (5)           1    (4)
materials
Energy coal                                          (34)           8   (26)
Steel                                                (22)           7   (15)
Exploration, technology and                          (13)           3   (10)
new business
Other activities                                    (114)          30   (84)
(b)
Group and                                           (457)          84  (373)
unallocated
Net interest                                          (6)           -    (6)
Total by customer                                 (1,094)         132  (962)
sector group

(a) Includes US$268 million attributable to equity minority interests.

(b) Includes US$34million attributable to equity minority interests.

(c) The provisions to cover financial obligations to banks in excess of the     
    Group's carrying value of investment in HBI Venezuela has been included
    in Group and unallocated items.

note 1. exceptional items
(continued)

                                                    Gross         Tax    Net
                                                     2000        2000   2000
                                                     US$m        US$m   US$m

Steel                                               (135)           2  (133)
Petroleum                                              93         (1)     92
Other activities                                       38           -     38
                                                      (4)           1    (3)
Petroleum                                            (12)           4    (8)
Steel                                                (18)           7   (11)
Group and                                            (31)          10   (21)
unallocated items
                                                     (61)          21   (40)

Group and                   Restatement of              -         107    107
unallocated items           deferred tax balances
Group and                   Tax benefit on              -         184    184
unallocated items           finalisation of
                            funding arrangements
                                                        -         291    291
Asset write-offs
and provisions:
Carbon Steel                Western                 (695)         210  (485)
Materials                   Australian
                            HBI
                                                    (695)         210  (485)
Total by category                                   (760)         523  (237)

                                                    Gross         Tax    Net
Exceptional items by                                 2000        2000   2000
customer sector group
                                                     US$m        US$m   US$m

Carbon steel                                        (695)         210  (485)
materials
Petroleum                                              81           3     84
Steel                                               (153)           9  (144)
Other activities                                       38           -     38
Group and                                            (31)         301    270
unallocated
Total by customer                                   (760)         523  (237)
sector group
note 2. customer
sector group data

BHP Billiton Group
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                     &                          ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                    (a)    (b)            (c)       (d)  (e)(f)   (g)        (h)
                                              
Aluminium        2 971     774     198    576    4 730    1 635      1        1
                                           
Base metals      2 231     332     285     47    3 834    2 127     56       19
                                           
Carbon steel     3 369   1 022     186    836    2 289      429      5        5
materials               
Stainless steel    838     156      82     74    1 598      212      7        4
materials
Energy coal      1 982     532     184    348    1 986      545      6        2
                      
Petroleum        3 361   1 907     500  1 407    2 504      459    206      144
                        
Steel            3 760     422     174    248    1 965       69      -        -
                      
Exploration,       251      24      31   ( 7)      869      408     63       75
technology and new
business
Other activities 1 251      16      10      6      817       59      -        -
                      
Group and        (351)   (974)      22  (996)      876      492      -        -
unallocated (i)(j)         
BHP Billiton 
Group           19 079   4 211   1 672  2 539   21 468    6 435    344     250
                                   
Year ended 30 June 2000
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                    &                           ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                    (a)    (b)            (c)       (d)   (f)   (g)        (h)

Aluminium         2 357    586     148    438     3 216   362       -          -
                      
Base metals       2 374    720     242    478     2 244    91      11          8
                      
Carbon steel      2 842     98     255  (157)     2 950   190       4          3
materials                       
Stainless steel     977    272      67    205     1 487   337      13         13
materials
Energy coal       1 597    300     163    137     1 665   160       8          4
                      
Petroleum         2 971  1 670     528  1 142     2 796   273     153        118
                        
Steel             5 393    537     288    249     3 749   170       -          -
                      
Exploration,        224     41      29     12       416    18      72         70
technology and new
business
Other activities    489    167       4    163       582    35       -          -
Group and         (162)  (376)      24  (400)       606   125       -          -
unallocated (i)(k)         
BHP Billiton 
Group            18 402  4 015    1 748 2 267    19 711 1 761     261        216
                                   
(a) Turnover does not add to the BHP Billiton Group figure due to
inter-segment transactions.

(b) EBITDA is earnings before interest, tax, and depreciation and
amortisation.

(c) EBIT is earnings before interest and tax.

(d) Net operating assets comprises all assets and liabilities with the
exception of balances related to net debt, taxation and dividends.

(e) Capex in aggregate comprises $5,676 million growth and $759 million
sustaining.

(f) Capex includes capital and investment expenditure (before deduction of
assumed debt), including amounts contributed to joint ventures,
and excludes capitalised interest and capitalised exploration.

(g) Includes $112 million (2000: $51 million) capitalised exploration.

(h) Includes $18 million (2000: $6 million) exploration expenditure
previously capitalised, now written off.

(i) Includes consolidation adjustments and unallocated items.

(j) Includes $340 million loss representing provisions for related financial
obligations to banks and other provisions related
to the decision to cease further investment in HBI Venezuela, and merger
transaction and restructuring costs of $114 million.

(k) Includes $37 milion profit from sale of subsidiaries.

note 2. customer sector group data (continued)

Aluminium
Year ended 30 June 2001
                                US$ million
                                      Depn       Net operating  Explor- Explor- 
                                        &                        ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c) (d) (e)  

Alumina(f)          520    258      72     186    2 190  1 525
                                        
Aluminium(g)(h)   1 566    502     126     376    2 540    110
                                          
Intra-divisional ( 129)      -       -       -       -       -
adjustment      
Third party       1 014     14       -      14       -       -
products        
Total Aluminium  2  971    774     198     576   4 730   1 635      1        1
                                      
Year ended 30 June 2000
                                US$ million
                                      Depn       Net operating  Explor- Explor- 
                                        &                        ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)   (e)  

Alumina(f)          339     128      35     93      766    95
Aluminium(g)      1 444     437     113    324    2 450   267
                
Intra-divisional ( 114)       -       -      -        -     -
adjustment      
Third party         688      21       -     21        -     -
products
Total Aluminium   2 357     586     148    438    3 216   362       -         -
                
(a) EBITDA is earnings before interest, tax, and depreciation and
amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net operating assets comprises all assets and liabilities with the
exception of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $1,585 million growth and $50 million
sustaining.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest and capitalised
exploration.

(f) Includes Worsley, Alumar and Paranam refining operations and bauxite
mines.

(g) Includes Hillside, Bayside, Alumar, Valesul and Mozal smelting
operations.

(h) Includes $61million profit from the sale of Mozal expansion rights.


note 2. customer sector group data (continued)
Base Metals
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)  (d)(e)  (f)

Escondida            853    415    104     311    1 609    231
Ok Tedi(g)           503 ( 339)     69   (408)       11     24
                                        
Tintaya              157     26     29    ( 3)      284     47
Cerro                167     86     49      37      694      2
Colorado
Antamina               -      -      -       -      707     46
Alumbrera             44     22      -      22      273      -
Cannington           302    110     25      85      260     11
Highland              46      3      -       3      131      -
Valley
Other                146      9      9       -   ( 135)     16
businesses
(h)
Third                 13      -      -       -        -      -
party
products
Total Base         2 231    332    285      47    3 834  2 127     56        19
Metals

Year ended 30 June 2000
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)     (e)  (f)

Escondida           931    446     100    346     1 502     52
Ok Tedi             441     79      66     13       482    15
Tintaya             156     29      35   ( 6)       265    10
Cerro                 -      -       -      -         -     -
Colorado
Antamina              -      -       -      -         -     -
Alumbrera             -      -       -      -         -     -
Cannington          298     97      28     69       345     7
Highland              -      -       -      -         -     -
Valley
Other               451     72      13     59    ( 350)     7
businesses
(h)
Third                97   ( 3)       -   ( 3)         -     -
party
products
Total Base        2 374    720     242    478    2 244     91        11      8
Metals

(a) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net operating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $2,022 million growth and $105 million
sustaining. This reflects the acquisition of Rio Algom Limited for $1,750
million (before deduction of assumed debt) which has not been allocated between
the various operations and therefore apex does not add to the Base Metals total.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest and capitalised
exploration.

(f) Includes $37 million (2000: $3 million) capitalised exploration.

(g) Includes a $430 million loss from the write-off of BHP Billiton's interest
in the Ok Tedi copper mine. The net impact on the BHP Billiton Group is $148
million (including Equity Minority Interests of $268 million).

(h) Includes North America Copper mining and smelting operations which ceased
during the September 1999 quarter.



note 2. customer sector group data (continued)

Carbon Steel Materials
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)  (d)(e)  (f)

WA Iron Ore       1 059    524      80     444      877    27
Samarco             224     71       -      71      253     -
Total Iron        1 283    595      80     515    1 130    27
Ore
Queensland        1 161    573      63     510      643   286
Coal(g)
Illawarra           257     73      17      56      105    12
Total             1 418    646      80     566      748   298
Metallurgical
Coal
Manganese(h)        548    126       26    100      413    27
WA HBI               91 ( 136)        -  (136)       16    31
                                           
Venezuela HBI        20 ( 208)        -  (208)    ( 17)    46
(i)                                        
Total HBI           111 ( 344)        -  (344)     ( 1)    77
                                           
Intra-divisional  ( 31)   ( 2)        -   ( 2)     ( 1)     -
adjustment
Third party          40      1        -      1        -     -
products
Total Carbon      3 369  1 022      186    836    2 289   429        5        5
Steel

Year ended 30 June 2000
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)   (e)     (f)

WA Iron Ore        892      413     85     328   1 156    14
Samarco            194       62      -      62     236     8
Total Iron       1 086      475     85     390   1 392    22
Ore
Queensland         919      289    100     189     813    38
Coal
Illawarra          249       50     19      31     121    11
Total            1 168      339    119     220     934    49
Metallurgical
Coal
Manganese(h)       547      127     28      99     464    32
WA HBI(j)           45   ( 833)     24   (857)   ( 10)    26
                                           
Venezuela HBI       16    ( 10)      -    (10)     172    61
                                            
Total HBI           61   ( 843)     24   (867)     162    87
                                           
Intra-divisional ( 20)        -   ( 1)       1    ( 2)     -
adjustment                 
Third party          -        -      -       -       -     -
products
Total Carbon     2 842       98    255   (157)   2 950   190        4       3
Steel                                      

(a) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net operating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $300 million growth and $129 million
sustaining.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest
and capitalised exploration.

(f) Includes $nil (2000: $1 million) capitalised exploration.

(g) Includes a profit of $128 million from the sale of interests in the CQCA and
Gregory joint ventures to Mitsubishi.

(h) Includes Groote Eylandt Mining Co and Tasmanian Electro Metallurgical
Company and the South African Manganese operations
of Samancor Limited.

(i) Includes $180 million loss for the write-off of the equity investment in HBI
Venezuela and the establishment of provisions for other associated costs.

(j) Includes $695 million loss for the write-off of HBI Western Australia.


note 2. customer sector group data (continued)

Stainless Steel Materials
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)  (d)(e)   (f)

Nickel(g)          457     128      52      76    1 300    169
Chrome             375      28      30    ( 2)      298     43
Third                6       -       -       -        -      -
party
products
Total              838     156      82      74    1 598    212      7        4
Stainless
Steel

Year ended 30 June 2000
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)    (e)   (f)

Nickel(g)           497    179      39     140     1 184   305
Chrome              480     93      28      65       303    32
Third                 -      -       -       -         -     -
party
products
Total               977    272      67     205     1 487   337    13        13
Stainless
Steel

(a) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net operating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $157 million growth and $55 million sustaining.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest
and capitalised exploration.

(f) Includes $3 million (2000: $nil) capitalised exploration.

(g) Includes the Cerro Matoso mine and ferronickel smelter and the Yabulu nickel
refinery.


note 2. customer sector group data (continued)

Energy Coal
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c) (d)(e)   (f)

Ingwe            1 039      321     105    216    1 131    105
New                409      127      37     90      169     51
Mexico
COAL(g)            129     ( 1)      14   (15)      176     17
                                        
Indonesia          222       63      28     35      117      1
Colombia            83       16       -     16      393    371
Third              100        6       -      6        -      -
party
products
Total            1 982      532     184    348    1 986    545      6         2
Energy
Coal

Year ended 30 June 2000
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                            (a)            (b)      (c)   (e)   (f)

Ingwe               890    143      85      58    1 149   124
New                 368    115      29      86      163    12
Mexico
COAL                122     11      17    ( 6)      194    23
Indonesia           217     31      32    ( 1)      159     1
(g)
Colombia              -      -       -       -        -     -
Third                 -      -       -       -        -     -
party
products
Total             1 597    300     163     137    1 665  160        8        4
Energy
Coal

(a) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net operating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $416 million growth and $129 million
sustaining.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest
and capitalised exploration.

(f) Includes $4 million (2000: $4 million) capitalised exploration.

(g) Includes $26 million loss from the write-down of Lake Mines.


Note 2. customer sector group data (continued)

Petroleum
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                    (a)     (b)           (c)      (d)   (e)(f)    (g)     (h)

Bass Strait       1 149    633      91     542     422      55
North West          731    535      54     481     850      43
Shelf
Liverpool           346    277     105     172     340      48
Bay
Other             1 077    562     250     312     889     313
businesses
Marketing           164     16       -      16       6       -
activities
Intra-divisional      -      -       -       -    ( 5)       -
adjust
Divisional       ( 106) ( 116)       -   (116)       2       -    206      144
activities                                
Total             3 361  1 907     500   1 407   2 504     459    206      144
Petroleum

Year ended 30 June 2000
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                    (a)     (b)           (c)      (d)     (f)    (g)     (h)

Bass Strait       1 160     674    126    548      504      89
North West          634     460     76    384    1 025      30
Shelf
Liverpool           325     254    119    135      374      18
Bay
Other               768     464    208    256      905     136
businesses
(i)
Marketing           867      14      1     13     ( 9)       -
activities
Intra-divisional ( 595)    ( 2)   ( 2)      -     ( 5)       -
adjust
Divisional       ( 188)  ( 194)      -  (194)        2       -     153     118
activities                                
Total             2 971   1 670    528  1 142    2 796     273     153     118
Petroleum

(a) Petroleum turnover includes: Crude oil $2,321 million (2000: $2,038
million), Natural gas $358 million (2000: $268 million),
LNG $291 million (2000: $248 million) LPG $198 million (2000: $190 million) and
Other $193 million (2000: $227 million).

(b) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(c) EBIT is earnings before interest and tax.

(d) Net operating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(e) Capex in aggregate comprises $305 million growth and $154 million
sustaining.

(f) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest and
capitalised exploration.

(g) Includes $62 million (2000: $41 million) capitalised exploration.

(h) Includes $nil (2000: $6 million) exploration expenditure previously
capitalised, now written off.

(i) Includes $93 million profit on sale of subsidiaries.


note 2. customer sector group data (continued)

Steel
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                           (a)            (b)       (c) (d)(e)     

Flat Products     1 485    114      80     34    1 068   35
                    
Coated Products   1 790    209      59    150      876   23
                    
Discontinuing       498     47      20     27    ( 55)    8
operations(f)
Intra-divisional ( 944)     28       -     28    ( 17)    -
adjust              
Divisional           40   (21)       1  ( 22)     ( 8)    -
activities               
Transport &         891     45      14     31      101    3
Logistics
Total Steel       3 760    422     174    248    1 965   69       -           -
                    
Year ended 30 June 2000
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                           (a)            (b)       (c)    (e)     

Flat Products     1 628    218      89    129     1 356     34
                    
Coated Products   2 208    266      75    191     1 086     19
                    
Discontinuing     2 167     17     105  ( 88)     1 229    118
operations(f)(g)    
Intra-divisional(1 551)      7       2      5     ( 43)      -
adjust              
Divisional           75   (34)    ( 1)  ( 33)     ( 20)   ( 6)
activities               
Transport &         866     63      18     45       141      5
Logistics
Total Steel       5 393    537     288    249     3 749    170       -      -
                    
(a) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net operating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $2 million growth and $67 million sustaining.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest
and capitalised exploration.

(f) Includes the Long Products business (OneSteel Limited) which ceased to
report results from November 2000 following spin-out.

(g) Includes the Newcastle primary steelmaking operations, US steel assets (
including $135 million loss on sale), Lifting products
and strip casting assets.




note 2. customer sector group data (continued)


Exploration, Technology and New Business
Year ended 30 June 2001
                                US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT    assets  Capex  gross  to profit
                                sation
                           (a)            (b)       (c) (d)(e)    (f)     (g)


Ekati               241    154      26    128       913   405
Exploration          10 ( 130)       5  (135)     ( 44)     3      63      75
and                                       
Technology
Total               251     24      31   ( 7)       869   408      63      75
Exploration,
Technology
and New
Business

Year ended 30 June 2000

                                           US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT  assets  Capex  gross  to profit  
                                 sation
                           (a)            (b)     (c)    (e)    (f)     

       Ekati        217    167       23   144     383     17
Exploration           7 ( 126)        6 (132)      33      1     72          70
and                                       
Technology
Total               224     41       29    12     416     18     72          70
Exploration,
Technology
and New
Business

(a) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net operating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $383 million growth, mainly comprising the
interest in Dia Met Minerals Limited, and $25 million sustaining.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest
and capitalised exploration.

(f) Includes $6 million (2000: $2 million) capitalised exploration.

(g) Includes $18 million (2000: $nil) exploration expenditure previously
capitalised, now written off.

note 2. customer sector group data (continued)

Other Activities
Year ended 30 June 2001
US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT  assets  Capex   gross  to profit 
                                 sation
                           (a)            (b)     (c)  (d)(e)         

Metals           797        30       7     23     317     10
Distribution
Columbus(f)      156    ( 125)       -  (125)     138      1
                                          
Other            298       111       3    108     362     48
businesses
(g)
Total Other    1 251        16      10      6     817     59       -           -
Items

Year ended 30 June 2000
US$ million
                                   Depn         Net operating  Explor- Explor-  
                                      &                         ation  ation
               Turnover EBITDA  amorti-  EBIT  assets  Capex   gross  to profit 
                                 sation
                           (a)            (b)     (c)  (e)         

Metals              -      -            -    -      -    -
Distribution                                                
Columbus          179   ( 1)            - ( 1)    260   33
Other             310    168            4  164    322    2
businesses
(g)
Total Other       489    167            4  163    582   35         -           -
Items

(a) EBITDA is earnings before interest, tax, and depreciation and amortisation.

(b) EBIT is earnings before interest and tax.

(c) Net perating assets comprises all assets and liabilities with the exception
of balances related to net debt, taxation and dividends.

(d) Capex in aggregate comprises $37 million growth and $22 million sustaining.

(e) Capex includes capital and investment expenditure, including amounts
contributed to joint ventures, and excludes capitalised interest
and capitalised exploration.

(f) Includes a $114 million loss from the write-off of BHP Billiton's interest
in the Columbus joint venture. The net impact on the BHP Billiton Group is $50
million (including Equity Minority Interests of $34 million).

(g) Includes Richards Bay Minerals operations, Shared Business Services, the
Hartley Platinum mine which was sold in January 2001
and the Beenup Mineral sands operations which was closed in April 1999.

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