BHP Billiton invests $917 million in harbour facility

BHP Billiton invests $917 million in harbour facility

3:35 AM, 8th February 2012
BHP Billiton invests $917 million in harbour facility
Ian Ashby, President Iron Ore, BHP Billiton.

MELBOURNE, AUSTRALIA: BHP Billiton announced approval of $917 million in pre-commitment funding for the construction of a 100 million tonne per year outer harbour facility associated with its Western Australia Iron Ore operations. The project, which is expected to be reviewed for full approval in the fourth quarter of 2012, has an embedded option to expand by a further 100 million tonne per year.

The funds approved will enable the company to progress feasibility studies and the procurement of long lead time items. Start-up of the new facility would be in the first half of 2016. “This investment is an important first step in providing the infrastructure to allow us to fully develop our world class resource base in the Pilbara. The development of the outer harbour is pivotal for our longer term growth objectives and this initial funding is rapidly turning those plans into a reality,” said Ian Ashby, President Iron Ore, BHP Billiton.

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