BHP funds Newcastle port expansion
BHP Billiton has announced the company has approved a US$367 million investment for the third stage of development of the Newcastle Coal Infrastructure Group’s (NCIG) coal handling facility in Newcastle.
The port expansion project will increase total capacity at the coal terminal from 53 million tonnes per annum (mtpa) to 66mtpa.
The first coal on the new ship loader is scheduled to occur in the 2014 financial year, with the terminal expected to operate at full capacity within the following 12 months.
The expansion will increase BHP Billiton’s allocation at NCIG by a further 4.6mtpa to 19.2mtpa supporting the future expansions of the Mt Arthur Coal mine, located approximately five kilometres south of Muswellbrook in the Upper Hunter Valley of New South Wales.
BHP's interest in the project stems from its wholly owned subsidiary, Hunter Valley Energy Coal Pty Ltd, being a 35.5 per cent stakeholder in NCIG.