Tuesday, April 19, 2011

BHP (BHP) to Double Iron Ore Production in Pilbara

With the release of an environmental review Monday BHP Billiton Ltd. (NYSE:BHP) is one step closer to more than doubling iron ore output at its properties in the Pilbara area of Western Australia.

This will be done via the development of a new harbor at Port Hedland.

Iron ore exports for the diversified miner will jump to about 150 million metric tons annually at this time to 350 million tons a year by 2020.

In environmental impact statement of BHP, released for public comment Monday, the miner said it had a goal for 240 million tons of capacity from the outer harbor, with shipping berths for eight bulk carriers.

BHP Billiton closed Monday at $97.98, falling $1.82, or 1.82 percent.

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