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BHP and Anglo announces joint coal venture
BHP and Anglo announced a proposed joint expansion of coal resources in the Western Complex, South Africa. They have entered into a memorandum of understanding enabling BHP`s Ingwe Collieries Limited and Anglo`s Anglo Coal to investigate a proposed expansion of adjacent coal resources in the Western Complex, South Africa, incorporating the development of BHP`s proposed USD280 million Klipspruit Project. Subject to the outcome of the investigation it is proposed to establish the Western Complex as a joint venture company managed by Ingwe and Anglo Coal.
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BHP Billiton approves Panda Underground Project
BHP Billiton today, 4 May 04, announced the approval of the USD182m (USD146m of which is BHP Billiton share) Panda Underground Project at the EKATI Diamond Mine in Canada. The project will deliver approximately 4.7m carats of high value Panda diamonds over a six-year production life. Initial production is expected in early 2005 and full production in early 2006. The open pit portion of the Panda mine was the original EKATI orebody. It was mined from October 1998 until its economic pit depth was reached in June of 2003. Development of the underground orebody was contemplated in the original Environmental Assessment and mine plan. Subsequent engineering work and test mining has determined that underground recovery of the lower portions of the Panda orebody is technically feasible and economically attractive. The Panda underground development was preceded by the Koala North test underground mine, which was used to establish what types of equipment, materials and processes worked best in Arctic permafrost underground conditions. The Koala North development allowed the EKATI underground operating group to establish work and safety processes and a business relationship with a qualified, Arctic-experienced mining contractor. The Koala North underground mine was the first underground diamond mine in Canada.
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BHP Billiton approves Worsley Alumina DCP
BHP Billiton today, 4 May 2004, announced the approval of the USD192m (of which BHP Billiton's share is USD165m) Worsley Alumina Development Capital Projects (DCP) in Australia. DCP is designed to take advantage of latent capacity in the plant through a series of 28 packages of work. These include additions to the precipitation circuit, additional bauxite residue washing and disposal facilities plus utilities and electrical infrastructure upgrades. The result will be an increase in alumina production of 250 000 tonnes per annum (215 000 tonnes per annum BHP Billiton share) to a capacity of 3.5mtpa (3.01mtpa BHP Billiton share). Commissioning and completion of DCP is expected by the first quarter of calendar year 2006 with the resulting production ramp-up to be achieved by the end of the second quarter of calendar year 2006.
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