Australia "faster network" reported on 25 August, BHP Billiton (BHP Billiton) Chief Executive Officer (CEO) Mackenzie (Andrew Mackenzie) that iron ore prices are unlikely to rise to $100 per metric ton above the price, but the company is preparing in the larger than expected scale in Western Australia mine expansion an additional $3250000000 the dollar to boost iron ore production.
Report points out, the price of iron ore last Friday fell to $90.1 per metric ton in unison, Mccann said dont expect form the price floor. BHP said it is looking to expand the Pilbara iron ore field (Pilbara) and port, the annual output of 290000000 tons. This goal is higher than the previous 270000000 metric tons, the cost of the capital it expected value is also released a year ago will be much lower.
Reported that, although the iron ore prospect is not optimistic, but the possibility of BHP Billiton to promote expansion planning seems more. The plan the extra $3250000000 will enable BHPs $5850000000 a year, taking into account the high profits of its iron ore sector, which means that the cost of capital may soon be repaid.