BHP plans $1.9 billion expansion to alumina refinery
SYDNEY, Australia—BHP Billiton Ltd. has approved a $1.9 billion expansion project for an alumina refinery in Western Australia, the company said Thursday.
The expansion will raise annual capacity at the Worsley Alumina refinery to 4.6 million metric tons from 3.5 million metric tons, by expanding mining operations, adding refinery capacity and upgrading port facilities.
Construction will start immediately. First production from the expansion is expected in the first half of 2011.
"Worsley is one of the largest, lowest cost and most efficient alumina refineries in the world. This decision to invest in further production capacity underlines our confidence in the future of the alumina market," BHP Billiton Aluminium President Jon Dudas said.
BHP holds 86 percent in the Worsley joint venture, with Japan Alumina Associates Pty. Ltd. holding another 10 percent and Sojitz Alumina Pty. Ltd. the remaining 4 percent.
BHP Billiton, which is listed on the Australian and British stock exchanges, employs some 35,000 people in 20 countries around the world. The company was formed by the 2001 merger of Australia's BHP and British-based Billiton.
Shares in BHP Billiton rose 1.5 percent Thursday to close at A$42.90.
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