We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bhp Billiton | LSE:BLT | London | Ordinary Share | GB0000566504 | ORD $0.50 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,573.00 | 1,571.40 | 1,572.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBLT
RNS Number : 2560O
BHP Billiton PLC
17 August 2017
NEWS RELEASE
Release Time IMMEDIATE Date 17 August 2017 Location Melbourne, Australia Release Number 20/17
BHP approves investment to extend life of Spence copper mine
BHP today announced approval of capital expenditure of US$2.46 billion for the Spence Growth Option (SGO) at the Spence open-cut copper mine in northern Chile, which will extend the mine life by more than 50 years.
BHP Chief Executive Officer Andrew Mackenzie said the SGO project supports BHP's strategy to deliver near-term, valuable copper production.
In the first 10 years of operation, incremental production from SGO will be approximately 185 ktpa of payable copper in concentrate and 4 ktpa of payable molybdenum, with first production expected in the 2021 financial year. The current copper cathode stream will continue until the 2025 financial year. The project will convert 1.3 Bt(1) of Measured and Indicated Mineral Resources to hypogene sulphide Ore Reserves.
SGO was rigorously evaluated using BHP's Capital Allocation Framework and, at mid-case consensus prices, has an expected internal rate of return of 16 per cent and an expected payback period of 4.5 years from first production.
Chief Executive Officer, Andrew Mackenzie, said that "Execution of the Spence Growth Option will create long-term value for shareholders in one of our preferred commodities. The project significantly extends the life of our Spence operation and unlocks the potential of the large, quality resource."
"SGO has been extensively studied and we have made significant improvements to project cost and design so that it is able to compete in our portfolio of attractive development options."
The SGO project will draw on experience developed in the construction of the Organic Growth Project 1 concentrator and desalination plant at Escondida, and create up to 5,000 jobs during the construction phase. The project includes the design, engineering and construction of a conventional large-scale sulphide concentrator for both copper and molybdenum with a 95 ktpd nominal ore throughput capacity.
In addition, SGO will require a new 1,000 litre per second desalination plant located at Mejillones Bay and a 154 km water pipeline from the plant to the Spence mine site. These will be built and operated by a third party under a Build, Own, Operate and Transfer contract, which has been separately awarded, with nominal, undiscounted value of lease payment obligations over the 20 year contract term totalling US$1.43 billion.
1. Hypogene Measured Resources of 520 Mt @ 0.47%TCu, 190 ppm Mo; Indicated Resources of 800 Mt @ 0.45%TCu, 130 ppm Mo. Reported for the year ended 30 June 2016 in the 2016 BHP Annual Report which can be found at www.bhp.com. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, that all material assumptions and technical parameters underpinning the Mineral Resource estimates continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person's finding are presented have not been materially modified from the original market announcement.
Further information on BHP can be found at: bhp.com
Media Relations Investor Relations Australia and Asia Australia and Asia Ben Pratt Tara Dines Tel: +61 3 9609 3672 Mobile: Tel: +61 3 9609 2222 Mobile: +61 419 968 734 +61 499 249 005 Email: Ben.Pratt@bhpbilliton.com Email: Tara.Dines@bhpbilliton.com Fiona Hadley Tel: +61 3 9609 2211 Mobile: Andrew Gunn +61 427 777 908 Tel: +61 3 9609 3575 Mobile: Email: Fiona.Hadley@bhpbilliton.com +61 402 087 354 Email: Andrew.Gunn@bhpbilliton.com Amanda Saunders Tel: +61 3 9609 3985 Mobile: United Kingdom and South Africa +61 417 487 973 Email: Amanda.Saunders@bhpbilliton.com Rob Clifford Tel: +44 20 7802 4131 Mobile: Kester Hubbard +44 7788 308 844 Tel: +61 7 3227 5671 Mobile: Email: Rob.Clifford@bhpbilliton.com +61 408 727 261 Email: Kester.Hubbard@bhpbilliton.com Elisa Morniroli Tel: +44 20 7802 7611 Mobile: United Kingdom and South Africa +44 7825 926 646 Email: Elisa.Morniroli@bhpbilliton.com Neil Burrows Tel: +44 207 802 7484 Americas Email: Neil.Burrows@bhpbilliton.com James Wear North America Tel: +1 713 993 3737 Mobile: +1 347 882 3011 Bronwyn Wilkinson Email: James.Wear@bhpbilliton.com Mobile: +1 604 340 8753 Email: Bronwyn.Wilkinson@bhpbilliton.com Cristian Coloma Tel: +1 713 235 8902 Mobile: +1 346 234 8483 Email: Cristian.CA.Coloma@bhpbilliton.com BHP Billiton Limited ABN 49 BHP Billiton Plc Registration 004 028 077 number 3196209 LEI WZE1WSENV6JSZFK0JC28 LEI 549300C116EOWV835768 Registered in Australia Registered in England and Wales Registered Office: Level 18, Registered Office: Nova South, 171 Collins Street 160 Victoria Street Melbourne Victoria 3000 Australia London SW1E 5LB United Kingdom Tel +61 1300 55 4757 Fax +61 Tel +44 20 7802 4000 Fax +44 3 9609 3015 20 7802 4111 Members of the BHP Billiton Group which is headquartered in Australia Follow us on social media
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLIFEDTDIDLID
(END) Dow Jones Newswires
August 17, 2017 03:59 ET (07:59 GMT)
1 Year BHP Billiton Chart |
1 Month BHP Billiton Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions