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BHP Approved for Initial Port Hedland Funding
02/07/2012 - BHP Billiton and its partners have received approval for US$917 million in pre-commitment funding for the construction of a 100 million tonne per year outer harbor facility associated with its Western Australia Iron Ore operations.
BHP Billiton and its partners have received approval for US$917 million (BHP Billiton share US$779 million)* in pre-commitment funding for the construction of a 100 million tonne per year outer harbor facility associated with its Western Australia Iron Ore operations.
The funds will enable the company to conduct feasibility studies and procure long lead time items. It will also allow for dredging to begin, subject to the necessary regulatory approvals. In parallel with this work, engineering studies are underway to match mine and rail expansions to the expanded port capacity.
The first phase of the Outer Harbor Development would include the proposed construction of a four kilometer jetty, a four-berth wharf, 32 kilometers of dredged departure channel and landside infrastructure, including stockyards and a rail spur. Start-up would be in the first half of calendar year 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,” said BHP Billiton President Iron Ore, Ian Ashby. “The development of the outer harbor is pivotal for our longer term growth objectives and this initial funding is rapidly turning those plans into a reality.”
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 tonnes per year.
* BHP Billiton’s partners in its Pilbara iron ore operations are Itochu Minerals & Energy of Australia Pty Ltd, Mitsui-Itochu Iron Pty Ltd and Mitsui Iron Ore Corporation Pty Ltd.
