BHP bets billions on Chile mines to face global copper crunch
BHP detailed to investors this week plans to spend $10.7 billion to $14.7 billion within about 10 years.
Dow Jones reports Argentina’s Mendoza Province has lifted its suspension of the multibillion dollar Rio Colorado potash mine project being developed by Brazilian mining company Vale SA.
Mendoza’s Environmental Secretariat has allowed Vale to move forward with the mine after the company agreed to submit reports on its local hiring and procurement practices to the local authorities, the provincial government said in a statement.
Vale is expected to invest around $5.9 billion on development of the potash mine it bought from Rio Tinto PLC in 2009, with $1.2 billion slated for this year alone. Heated water will be pumped deep under the surface of the site in the remote southern tip of Mendoza province to bring the potash to the surface.
