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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 6-K

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the Date of 23 April 2003

BHP Billiton Limited

ABN 49 004 028 077

600 Bourke Street

Melbourne Victoria 3000

Australia

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

23 April 2003
Number: 15/03

BHP Billiton today announced commercial terms have been settled for the majority of annually priced coking coal contracts for the year commencing 1 April 2003.

The pricing outcomes relate to the BHP Billiton Mitsubishi Alliance (BMA) and BHP Mitsui Coal operations in Queensland, and the BHP Billiton Illawarra Coal operations in New South Wales.

FOB returns for all brands of metallurgical coals have decreased by an average of four per cent. The lower prices reflect market conditions prevailing across most coal types.

Volumes are expected to remain steady.

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