Posted in | Business | Iron and Steel | Mining

BHP Billiton Approves US$635 Million Investment for Western Australian Iron Ore

BHP Billiton today announced approval for a further US$635 million (BHP Billiton share US$570 million) of capital expenditure that will underpin continued growth in Western Australia Iron Ore's production profile.

The investment highlights BHP Billiton's commitment to the Rapid Growth Project sequence of expansion projects and is consistent with the company's strategy to fully utilise its Port Hedland inner harbour capacity.

The investment expands on BHP Billiton's earlier pre-commitment of US$1.73 billion announced in January 2010 and will facilitate the ongoing development of important port, rail and Jimblebar mine infrastructure.

BHP Billiton President, Iron Ore, Ian Ashby said "The investment further progresses our conveyor belt of Rapid Growth Projects and ensures the company is well positioned to deliver production growth into a tight and growing market. Our volume maximising strategy remains unchanged as we continue to update our longer term growth plans."

1 BHP Billiton's partners in its Pilbara iron ore operations are: Itochu Minerals & Energy of Australia Pty Ltd, Mitsui-Itochu Iron Pty Ltd and Mitsui Iron Ore Corporation Pty Ltd. BHP Billiton share of investment takes into account the 100% owned BHP Billiton Iron Ore Jimblebar operation.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    BHP Billiton. (2019, February 10). BHP Billiton Approves US$635 Million Investment for Western Australian Iron Ore. AZoM. Retrieved on July 14, 2020 from https://www.azom.com/news.aspx?newsID=25902.

  • MLA

    BHP Billiton. "BHP Billiton Approves US$635 Million Investment for Western Australian Iron Ore". AZoM. 14 July 2020. <https://www.azom.com/news.aspx?newsID=25902>.

  • Chicago

    BHP Billiton. "BHP Billiton Approves US$635 Million Investment for Western Australian Iron Ore". AZoM. https://www.azom.com/news.aspx?newsID=25902. (accessed July 14, 2020).

  • Harvard

    BHP Billiton. 2019. BHP Billiton Approves US$635 Million Investment for Western Australian Iron Ore. AZoM, viewed 14 July 2020, https://www.azom.com/news.aspx?newsID=25902.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit