Last Updated :
19 January 2010 at 01:45 IST
BHP’s Caval Ridge mine to produce 5.5MMT coal
SYDNEY (Commodity Online): The world’s largest mining company, BHP Billiton Ltd today announced its plans to spend USD 267 million to accelerate the development of the Caval Ridge mine and the Hay Point coal terminal in Australia’s Queensland state.
The funds, according to the company statement, would be used for feasibility studies, the procurement of long-lead time items and initiate project activities. The statement further added that the final approvals for the projects are expected in the third quarter of 2011.
Caval Ridge would produce nearly 5.5 million metric tonnes coal per year from a mine by the same name and an additional 2.5 million tonnes from the Peak Downs mine. The expansion of the coal terminal would increase capacity by 25% to 55 million tonnes per year. The global recession caused the development work to get delayed by almost two years.
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