Google Website Translator Gadget

Friday, November 4, 2011

BHPB to begin work on IndoMet coal project

Friday, 04 Nov 2011

BHP Billiton Ltd said that it plans to begin work on the USD 1.34 billion IndoMet coal project in Indonesia within weeks, a move that would open up a new mining province to help meet booming Asian demand for steelmaking raw materials.

BHP said that joint venture companies controlled by BHP and Indonesia's PT Adaro Energy will begin building the Haju mine in jungle around 220 kilometers northwest of Balikpapan port by the end of the year.

Haju is the first stage of the IndoMet project on the island of Borneo, which could be producing 5 million metric tons of coking coal annually by 2017. IndoMet is BHP's fifth-biggest coking coal resource.

A BHP spokeswoman said that "PT Lahai will construct a road and a mine (Haju) and related infrastructure, commencing, subject to approvals, in the fourth quarter of 2011.”

(sourced Dow Jones Newswires)

No comments: