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BHP approves initial funding for South Flank project

Published 06/26/2017, 08:47 AM
© Reuters.  BHP approves initial funding for South Flank project
BHP
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  • BHP Billiton (NYSE:BHP) approves US$184M in initial funding for the South Flank project in Western Australia's Pilbara that would help it maintain iron ore production when its Yandi mine reaches the end of its economic life in the early-to-mid 2020s.
  • BHP's board is expected to consider approval by the middle of next year for the project, which would expand an existing mining hub to replace production from the 80M metric tons/year Yandi mine, and first ore would be targeted in 2021 in order to ramp up to coincide with a slowdown in Yandi's production.
  • BHP estimates capital costs for the project of US$30-$40/ton.
  • Now read: Cobalt Miners News For The Month Of June 2017


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