BHP OKs £521 million for new iron ore mine in Australia
SYDNEY (Reuters) - BHP Billiton <BHP.AX> <BLT.L> on Wednesday said it had approved $822 million (521 million pounds) in capital spending to dig a new iron ore mine in Australia capable of yielding 17 million tonnes of ore a year starting in mid-2012.Development of its Orebody 24 deposit would help maintain production rates at the company's operations in Western Australia state's Pilbara iron belt, it said.
(Reporting by James Regan; Editing by Ed Davies)
Please note that articles on MSN Money do not constitute regulated financial advice, which recommends a course of action based upon the specifics of your personal circumstances. The articles are intended to provide general personal financial information. We urge you to consult an Independent Financial Adviser (IFA) before making any important decisions about your finances. You can search for an IFA in your local area. Any statement regarding financial services products and tax liability is based on legislation and tax practices as at 6 April 2011, which is, of course, subject to change. The value of any tax benefits or reliefs depends upon the individual circumstances of the investor. When investment performance is mentioned you should remember that past performance is no guarantee of future performance. Where products have an underlying investment content, in many cases the value of the investment can fall as well as rise. For with-profit based investments, there is no guarantee as to the level of bonuses that will be declared, if any. Where mortgages or secured loans are explained do remember that your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. All mortgages are subject to underwriting, status and are not available to people under the age of 18.
What current account benefit would you like more of/value the most?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- Medical/life insurance
- Travel insurance
- Breakdown cover
- Legal aid
- Tickets for cultural or sporting events
- Lower charges