EKATI (Canada) diamond production for the 2011 financial year was 2.5 million carats, an 18% decrease from the prior period. BHP Billiton expects lower average ore grades to impact EKATI production in the medium term, consistent with the mine plan.

Underlying EBIT for the Diamonds and Specialty Products business increased by 21% to USD 587 million. Strong demand and a shortage of rough diamonds resulted in higher prices, which increased Underlying EBIT by USD 254 million. A 28% increase in titanium prices added a further USD 112 million to Underlying EBIT.

Gross exploration expenditure was USD 81 million, a decrease of USD 14 million from the prior period. BHP Billiton continues to accelerate its potash exploration program in Saskatchewan, with a significant increase in activity planned at the Melville prospect in the 2012 financial year.

BHP Billiton’s goal of becoming a significant producer in the potash market took another important step forward in the 2011 financial year. The approval of a further USD 488 million of pre commitment funding during the Jansen Potash Project feasibility study phase will fund site preparation, the procurement of long lead time items and the sinking of the first 350 meters of the production and service shafts.