BHPB and Rio Tinto approve Escondida expansion
- Publishing Date
- 14 Feb 2012 2:44pm GMT
- Author
- Mining Journal
BHP Billiton and Rio Tinto have approved their respective shares of total US$4.5 billion investment in expansion of the joint-venture Escondida copper mine in Chile.
The expansion plan comprises two separate projects, which will cost BHP Billiton US$2.6 billion. Rio Tinto on the other hand has approved a US$1.4 billion investment for the projects.
According to BHP Billiton, construction of one of the projects is expected to begin this month with commissioning anticipated in the first half of the 2015. The construction of the plant is expected to be complete in three years.
BHP Billiton Base Metals President, Peter Beaven, said he expects the completion of the current Escondida Ore Access and Laguna Seca de-bottlenecking projects, and a strong recovery in ore grades, to support the recovery in Escondida copper production to more than 1.3 Mt/y in the 2015 financial year.
BHP Billiton holds 57.5% interest in Escondida, Rio Tinto holds 30% and JECO Corp, a Mitsubishi Corp-led consortium of Japanese companies, owns 12.5%.
The expansion plan comprises two separate projects, which will cost BHP Billiton US$2.6 billion. Rio Tinto on the other hand has approved a US$1.4 billion investment for the projects.
According to BHP Billiton, construction of one of the projects is expected to begin this month with commissioning anticipated in the first half of the 2015. The construction of the plant is expected to be complete in three years.
BHP Billiton Base Metals President, Peter Beaven, said he expects the completion of the current Escondida Ore Access and Laguna Seca de-bottlenecking projects, and a strong recovery in ore grades, to support the recovery in Escondida copper production to more than 1.3 Mt/y in the 2015 financial year.
BHP Billiton holds 57.5% interest in Escondida, Rio Tinto holds 30% and JECO Corp, a Mitsubishi Corp-led consortium of Japanese companies, owns 12.5%.
Companies in this article
Visit the links below to read profiles, see stock information and read all news on companies mentioned in this article.
ALSO IN THE ARCHIVE...
More News By Subject
Site Search
Log inLatest Issue:
MJ 18/05/12
-
Features
-
Editor's Comment
PROFESSIONAL PLACEMENTS
General Manager Processing - OK Tedi Mining
Ok Tedi Mining Limited operates a world class open pit mine and copper concentrator located in the Western Province of PNG.
Chief Operating Officer - TiZir Limited
Key Leadership Role with a $600M Joint Venture Project in West Africa, competitive salary package on offer with Residential and FIFO options.
Chief Executive Officer - Tin International Ltd
Tin International Ltd. (“TIN”) is in the process of becoming an ASX listed tin development company with assets located in Germany.
RECENT MINING COMPANY PROFILES
SEARCH OUR COMPANY DATABASE
Recently Created or Updated Company News Portals
Comments