$4.6b in projects confirmed for CQ
BHP Billiton has confirmed that projects worth up to $4.6 billion are still going ahead in Central Queensland between now and the end of 2014.
The coal-mining goliath delivered the good news in its annual exploration and development report released on Wednesday morning.
BHP has a 50% stake in four projects including Daunia and Caval Ridge. The expansion of Broadmeadow will increase coal exports by another 12.9 million tonnes of coal per year.
The Broadmeadow expansion will only add 400,000 tonnes of that, but will allow it to run for another 21 years.
BHP's report stated each of the four Central Queensland projects were on schedule and budget.
Daunia and the Broadmeadow works are expected to be finished before the end of 2013 while Caval Ridge and the Hay Point expansion were due to be finished in 2014.
The third stage of Hay Point's expansion will be able to handle an extra 11 million tonnes of coal per year, pushing its limit from 44 million tonnes to at least 55.
ON THE MOVE
- Daunia Mine (new): Worth $800m, due 2013, 56% complete.
- Broadmeadow expansion: Worth $450m, due 2013, 45% finished.
- Hay Point Stage Three: Worth $1.25b, due 2014, 45% complete
- Caval Ridge Mine (new) plus Peak Downs expansion: Worth $2.1b, due 2014, 37% finished.