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Bhp Billiton Share News (BLT)

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Share News for Bhp Billiton (BLT)


Share Price: 933.10Bid: 933.10Ask: 933.20Change: 0.00 (0.00%)No Movement on Bhp Billiton
Spread: 0.10Spread as %: 0.01%Open: 937.50High: 948.10Low: 919.10Yesterday’s Close: 933.10




UPDATE 1-BHP not to build Congo plant, setback for hydro plan

Wed, 15th Feb 2012 14:31

By Jonny Hogg and Bate Felix

KINSHASA, Feb 15 (Reuters) - BHP Billi
ton's decision to abandon plans for an aluminium smelter in the Democratic Republic of Congo could create problems for the planned Inga 3 hydro power project, the energy minister said on Wednesday.

'The problem is real but there are alternative solutions,' Energy Minister Gilbert Tshiongo told Reuters, but added the government was confident of finding other backing for the project.

'There are other clients, there is the domestic demand, there is demand also from the exterior. Inga was not mainly for the exterior but for interior consumption,' Tshiongo said.

BHP spokesman Ruban Yogarajah told Reuters from London that the company had studied the construction of the smelter, which would have been powered by the planned hydro project.

'However the company has chosen to not continue the project, which was still at a very early stage, following a review of its economics,' Yogarajah said in an e-mail.

He noted BHP would not have been the only customer of the power project.

The Inga project is estimated to cost $8-$10 billion and produce some 3,500 to 7,000 megawatts on the Congo river. The plan has been stalled for several years with the African Development Bank warning over the cost.

Only about 9 percent of the vast minerals-rich central African nation's 70 million inhabitants have access to electricity. That is one of the lowest rates in Africa and the government has vowed to double the figure by 2015.

A mining boom in the southern province of Katanga has put serious strain on the country's power resources, with the country's energy deficit set to rise.

The Inga 3 project is one of the largest proposed power projects in Africa and seen as crucial to providing sufficient power by 2020 and spurring Congo's economic growth.

Congo's multitude of rivers offer enormous hydropower potential but a lack of infrastructure and difficult business climate have made it difficult to find investors.

The government last year said Inga 3 was planned to come on line in 2018 as part of a drive to reverse the country's energy deficit and increase production fivefold to 5,132 megawatts by 2020 from 996 last year.



(Writing by Bate Felix; editing by Jason Neely) Keywords: BHP CONGO/INGA

(bate.felix@thomsonreuters.com)(+221 33 864 5077)(Reuters Messaging: Reuters Messaging: bate.felix.reuters.com@reuters.net)

COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.






RPT-COLUMN-China tries to tame animal spirits in commodity markets: Andy Home

(Repeats with no changes. The opinions expressed here are those of the author, a columnist for Reuters)* http://tmsnrt.rs/1respEz* http://tmsnrt.rs/1r
[27 Apr '16 02:00]

COLUMN-China tries to tame animal spirits in commodity markets: Andy Home

(The opinions expressed here are those of the author, a columnist for Reuters)* http://tmsnrt.rs/1respEz* http://tmsnrt.rs/1ret3Sx* http://tmsnrt.rs/1
[26 Apr '16 11:49]

BUZZ-European steelmakers: Fall as Australia imposes duties on Chinese steel

** Shares of European steelmakers fall after Australia is set to impose dumping duties on Chinese steel** Stoxx 600 basic resources down 2.5 pct** BHP
[25 Apr '16 08:31]

Samarco continues polluting after dam burst - Brazil prosecutor

RIO DE JANEIRO, April 22 (Reuters) - Samarco Mineração SA has not adopted measures to stop the leaking of mine tailings as required by a court after
[23 Apr '16 01:44]

Drummond to start talks with its biggest coal workers' union

BOGOTA, April 21 (Reuters) - Drummond, Colombia's second-biggest coal producer, will next week start talks with the mine workers' union that represent
[21 Apr '16 17:52]

UPDATE 2-Brazil's Vale signals slight drop in iron ore production

(Adds iron ore price performance, nickel production and 2017 guidance)By Stephen EisenhammerBRASILIA, April 20 (Reuters) - Brazilian miner Vale said o
[20 Apr '16 23:54]

UPDATE 1-Brazil's Vale signals slight iron ore production drop

(Adds output guidance, production in 2015)BRASILIA, April 20 (Reuters) - Brazilian miner Vale said on Wednesday it expects full-year iron ore producti
[20 Apr '16 23:17]

UPDATE 2-BHP Billiton weighs getting out of Indonesian coal

* BHP sold 25 pct stake in IndoMet for $335 mln in 2010* Coal asset prices down 60-90 percent since then* Indonesian Haju mine has 1 mtpa capacity (
[20 Apr '16 16:11]



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