BHP Billiton to invest in replacement Aussie coal mine
The board of mining titan BHP Billiton has given the go-ahead to a massive investment on its coal operations in New South Wales, Australia.
The board of mining titan BHP Billiton has given the go-ahead to a massive investment on its coal operations in New South Wales, Australia.
The group is spending US$845m to sustain operations at Illawarra Coal by establishing a replacement mining area at the Appin Mine.
The replacement area will have a production capacity of 3.5m tonnes per year of metallurgical coal and will sustain Illawarra Coal's production capacity at 9m tonnes per year. Appin Area 9 will be operational in 2016 and will replace production at the West Cliff Mine.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The project, which has received all the required regulatory approvals, includes roadway development, new ventilation infrastructure, new and reconfigured conveyors and other mine services.
JH
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published