Miners plan $10bn boost for iron ore
HE iron ore investment boom in Western Australia is set to roll on, with more than $US10 billion ($10.35bn) in new investment by global giants BHP Billiton and Rio Tinto on the cards.
Expansion expectations around BHP’s Pilbara operations escalated yesterday in response to the group’s stronger-than-expected September production report and commentary from chief executive Andrew Mackenzie, which followed recent messages by Rio that it would approve its own $US5bn-$US6bn expansion next month.
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