BHP must stop funding legal action to halt Mariana dam claim, London High Court rules
The miner must stop funding legal action to prevent a $46 billion claim over the dam collapse.
Global miner BHP Group said on Thursday it has approved an investment of $283 million to fund the development of an oil and gas project in Trinidad and Tobago.
Total investment in the Ruby Project, in which BHP holds a 68.5% stake, is about $500 million, the miner said in a statement.
The remaining interest in the project is held by state-owned Heritage Petroleum and the National Gas Company of Trinidad and Tobago.
“Ruby aligns well with our strategy of maximising value from our existing assets, bringing competitive near term value and volume growth,” Geraldine Slattery, BHP President Operations Petroleum said.
(By Aditya Soni; Editing by Richard Pullin)
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