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BHP commits to $2.2bn Pilbara expansion
BHP Billiton has approved a $2.2bn expansion of its Pilbara iron ore operations, which will see annual production capacity lift to 240m tonnes from 2013.
Expansion plans: Port Hedland (Photo: Southern Cross Maritime)
The confirmation of the sixth stage of the Rapid Growth Program was contained in a company statement this morning.
Approval for the rest of the RGP 6 is to be considered in the second half of 2010.
BHP's share of the expansion cost is $1.9bn.
Rio Tinto has the option of joining the program later this year if the two companies can secure the support of competition regulators for their proposed Western Australian iron ore joint venture.
BHP said the funding would allow early procurement of work that would need longer lead times.
The work includes continued expansion of Port Hedland's inner harbour, rail track duplication and boosting capacity at the Jimblebar mining operation.
