BHP Billiton to Invest $635m in Iron Ore Production

23 November 2010 (Last Updated November 23rd, 2010 18:30)

BHP Billiton has unveiled a plan to invest $635m to boost iron ore production in Western Australia. The investment expands on BHP Billiton's earlier pre-commitment of $1.73bn, announced in January, and will facilitate the ongoing development of port, rail and Jimblebar mine infrastruct

BHP Billiton has unveiled a plan to invest $635m to boost iron ore production in Western Australia.

The investment expands on BHP Billiton's earlier pre-commitment of $1.73bn, announced in January, and will facilitate the ongoing development of port, rail and Jimblebar mine infrastructure.

Of the total investment, the miner will invest $570m and the remaining amount will be invested by its partners, which include Itochu Minerals &a,p; Energy of Australia, Mitsui-Itochu Iron and Mitsui Iron Ore.

BHP Billiton's share of the investment takes into account the 100%-owned BHP Billiton iron ore Jimblebar operation.