Settles 2003 Iron Ore Prices

BHP Billiton Limited
21 May 2003

     BHP Billiton Limited is issuing this announcement to fulfil disclosure
  obligations arising from its secondary listing on the London Stock Exchange.

    The text of this release is identical to that issued by BHP Billiton Plc
                                    earlier.



Date: 21 May 2003
Number: 19/03



                   BHP BILLITON SETTLES 2003 IRON ORE PRICES


BHP Billiton today announced it had reached agreement with Japanese customers on
the prices of its Fine and Lump iron ores for the year commencing 1 April 2003.

The agreed prices are as follows:

  • Mt Newman High Grade Fines 30.83 US cents per dry long ton unit; an
    increase of 9.0 per cent.

  • Mt Newman High Grade Lump 39.35 US cents per dry long ton unit; an
    increase of 8.9 per cent.

Prices for Yandi and Mt Goldsworthy ores will increase by similar percentages.

                                      ****

Further information can be found on our Internet site: 
http://www.bhpbilliton.com




Australia                                                     United Kingdom
Andrew Nairn, Investor Relations                              Mark Lidiard, Investor & Media Relations
Tel: [phone] Mobile: [phone]                  Tel: [phone]  Mobile: [phone]
email: [e-mail]                         email: [e-mail]

Tracey Whitehead, Media Relations                             Ariane Gentil, Media Relations
Tel: [phone] Mobile: [phone]                  Tel: [phone]
email: [e-mail]                       email: [e-mail]

United States                                                 South Africa
Francis McAllister, Investor Relations                        Michael Campbell, Investor & Media Relations
Tel: [phone] Mobile: [phone]                  Tel: [phone] Mobile: [phone]
email: [e-mail]                   email: [e-mail]


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