BHP Billiton Pursues $822 Million Iron Ore Mine Development in W Australia

Platts reported BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT) has approved an $822 million investment for the development of its Orebody 24 iron ore mine.

As quoted in the market news:

BHP’s share of the Orebody 24 investment will be $698 million. Its partners in the Pilbara iron ore operations are subsidiaries of Japan’s Itochu and Mitsui. The joint venturers are Itochu Minerals & Energy of Australia, Mitsui-Itochu Iron and Mitsui Iron Ore Corporation.

Click here to read the full Platts report.