BHP Billiton Invests $367 Million To Grow Newcastle Coal Facility
August 31 2011 - 1:03AM
Dow Jones News
BHP Billiton Ltd. (BHP) has given the go-ahead to invest US$367
million to expand the Newcastle coal port in eastern Australia, the
mining giant said Wednesday.
The expansion project will increase capacity at the coal
terminal to 66 million metric tons a year from 53 million, and
increase BHP's allocation at the port by a further 4.6 million tons
to take it to 19.2 million tons a year, the Melbourne-based company
said in a statement.
The increased export capability supports the expansion of BHP's
energy coal mines in New South Wales to meet rising demand for the
fuel, particularly in growing Asian economies.
"We are steadily growing the Mt. Arthur mine and evaluating the
development of Caroona," said Jimmy Wilson, president of BHP's
energy coal division. "This port expansion underpins the future of
these two sites."
The Mt. Arthur coal mine is located about five kilometers south
of Muswellbrook in the Hunter Valley, and the Caroona project is in
the Gunnedah Basin in northwestern New South Wales.
BHP said the first coal on a new ship loader is scheduled for
financial 2014, with the terminal expected to operate at full
capacity within the following 12 months.
BHP has an almost 36% stake in the Newcastle Coal Infrastructure
Group. Centennial Coal, Donaldson Coal, Peabody Energy Corp. (BTU),
Yancoal and Whitehaven Coal Ltd. (WHC.AU) are all partners in the
port operation, according to Newcastle Coal's website.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094;
robb.stewart@dowjones.com
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