Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

BHP to spend $2.5B to extend Spence copper mine in Chile

Published 08/17/2017, 08:02 AM
Updated 08/17/2017, 08:02 AM
© Reuters.  BHP to spend $2.5B to extend Spence copper mine in Chile
  • BHP Billiton (NYSE:BHP) says it plans to spend $2.5B to extend the life of the Spence copper mine in Chile by more than 50 years, beginning in 2021.
  • BHP CEO Andrew Mackenzie says the project supported the company's strategy of delivering near-term, valuable copper production.
  • BHP says extra production from the Spence extension will total ~185K metric tons/year of copper concentrate and 4K metric tons of molybdenum in the first decade of operation.
  • The project will need a new $800M desalination plant, and a consortium of Mitsui and Grupo Cobra reportedly are in exclusive talks with BHP to build the plant.
  • Now read: Iluka Resources Ltd. ADR 2017 Q2 - Results - Earnings Call Slides

Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.