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BHP, Mitsubishi to Invest $4.2 Bln in Australia Coal Expansion
Nov. 01, 2011 07:23AM PST
Industrial Metals InvestingReuters reported that a joint venture between BHP Billiton (NYSE:BHP) and Mitsubishi Corp (NYSE:MTU) will invest in the expansion of coal mining in Australia.
Reuters reported that a joint venture between BHP Billiton (NYSE:BHP) and Mitsubishi Corp (NYSE:MTU) will invest in the expansion of coal mining in Australia.
As quoted in the market news:
The project initially will add 8 million tonnes per year capacity in exports of metallurgical coal used in making steel, with an expectation of a rapid, low-cost expansion to 10 million tonnes per year, BHP said.