BHP Billiton: Approves US$1.93 Billion Capital Expenditure On W Australia Iron Ore Operations
January 28 2010 - 5:25PM
Dow Jones News
BHP Billiton Ltd. (BHP.AU) said Friday it has approved a US$1.93
billion expansion of its iron ore operations in Western Australia
even as it waits for approval to merge these operations with those
of rival Rio Tinto Ltd. (RIO.AU).
The company said the funding forms part of its Rapid Growth
Project 6 in the Pilbara region designed to increase annual
capacity of the operations to 240 million metric tons by 2013, and
will be used to procure long lead time items and detailed
engineering for port, rail and Jimblebar mine expansion.
BHP Billiton said its share of the capital expenditure is
US$1.73 billion under its Pilbara iron ore partnership with Japan's
Itochu Corp. (8001.TO) and Mitsui & Co. Ltd. (8031.TO)
-By Bill Lindsay, Dow Jones Newswires; 61-2-8272-4694;
bill.lindsay@dowjones.com
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