Heat Treat Industry News

June 15, 2010

BHP Billiton to increase development in West Africa

Publishing Date14 Jun 2010 5:08pm GMTAuthorMining JournalBHP Billiton is reportedly pushing ahead with plans to develop an iron-ore hub in West Africa worth in excess of US$5 billion.

The Australian newspaper reports that the mining giant is looking to ramp up its developments in Guinea and Liberia on the back of high demand for steel and the easing of political tensions in the area.

BHPB is said to have signed a mineral-development agreement with Liberia, covering taxes, duties and other trade terms to develop four iron-ore deposits. Liberian news reports have suggested BHPB’s spend in the country would be US$3 billion.

The report comes after BHPB has indicated it may put preference on investments outside of Australia due to the government’s proposed Resources Super Profits Tax (RSPT).

BHPB has been a leading detractor of the proposed tax, with chairman Jac Nasser last week again criticising the Australian government for its lack of engagement with the industry before its announcement.

http://www.mining-journal.com/

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