developer, Administrators
60,575
edits
Changes
Jump to navigation
Jump to search
→Expansion: add details
In August 2011, three of the U.K.'s largest listed miners - [[Xstrata Coal]], [[BHP Billiton]], and [[Anglo American]] - in the Colombian Cerrejon thermal coal mine approved a US$1,311 million billion project to expand the coal mine's output by 25%. Each company owns a 33.3% stake in the mine and committed to invest US$437 million in the expansion. The approved Cerrejon project will increase coal output by 8 million tons to 40 million tons a year, as well as expand the coal handling facilities and the fully-owned Puerto Bolivar port, adding an extra loading berth.
In a media release announcing the go-ahead for what was dubbed the P40 project, BHP Billiton stated that:<refname=Expand>BHP Billiton, [http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Expansion-Of-Cerrejon-Coal.aspx "Expansion of Cerrejon Coal"], Media Release, August 18, 2011.</ref>
:"Construction will commence in the 2011 calendar year with completion expected in the 2013 calendar year. Ramp up to expanded capacity of 40mtpa is expected by the end of the 2015 calendar year. The expansion project will see BHP Billiton’s estimated share of production and sales from this long life, tier 1 asset increase from 10.7mtpa to 13.3mtpa."
BHP Billiton' Energy Coal President, Jimmy Wilson proclaimed:<ref name=Expand/>
:"Today’s announcement highlights our commitment to invest in growth throughout the cycle and to continue to produce at maximum volumes to take advantage of the strong demand for energy coal."
In its 2014 annual report BHP Billiton stated that:<ref name=AR2014Cerr>BHP Billiton, [http://www.bhpbilliton.com/home/investors/reports/Documents/2014/BHPBillitonAnnualReport2014_interactive.pdf "Annual Report 2014], BHP Billiton, September 2014, page 43.</ref>
