BHP approves $900 million iron ore project
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- BHP approved a $900 million investment to develop the Ministers North iron ore project in Western Australia.
- The new asset targets an annual production capacity of 20 million tonnes by fiscal 2029.
- The company stated the project will sustain its medium-term Pilbara output target of 305 million tonnes.
BHP (NYSE:BHP) approved a $900 million investment to develop the Ministers North iron ore project in Western Australia.
The new site serves as a satellite extension to offset the natural production depletion of the Yandi mine.
The company expects to construct a 13-kilometre haul road and install new crushers at the existing facility.
The operation targets first ore by fiscal 2029.
The business stated that the asset will produce 20 million tonnes annually to support medium-term corporate output targets.
The project operates under a joint venture controlled 85 percent by the company alongside Itochu and Mitsui.
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