Bloomberg News

BHP Gets Conditional Approval for $10 Billion Port Expansion

January 24, 2012

Jan. 23 (Bloomberg) -- BHP Billiton Ltd., the world’s largest mining company, received conditional approval for a $10 billion expansion of its iron ore export harbor in Western Australia to boost supply to Chinese steel mills.

The expansion of the Port Hedland harbor, which includes rail, ore stockpiles and a four kilometer (2.5 mile) jetty, can be implemented with some conditions, the Western Australian Environmental Protection Authority said in a statement on its website. The expansion may take eight years to construct and will boost output by 240 million metric tons a year, the department said.

BHP last week reported record iron ore output, beating its own guidance. In March it approved $7.4 billion in spending on operations in Western Australia to boost iron ore capacity to 220 million tons a year by 2014.

BHP fell 0.7 percent to A$37.23 at 12:34 p.m. Sydney time on the Australian stock exchange.

--Editors: Rebecca Keenan, Iain Wilson

To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net


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