Register
Login:
Share:
Email Facebook Twitter




Bhp Billiton Share News (BLT)

Stock Market news at lse.co.uk - RSS News Feeds

Share News for Bhp Billiton (BLT)


Share Price: 856.30Bid: 856.30Ask: 856.50Change: 0.00 (0.00%)No Movement on Bhp Billiton
Spread: 0.20Spread as %: 0.02%Open: 835.00High: 873.60Low: 795.00Yesterday’s Close: 856.30




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-Mining sector sheltered from Brexit shock by gold and dollar strength

(Repeats to add PIX to packaging slug)* Mining sector falls less than blue-chip FTSE 100 index* Uncertainty complicates debt and M&A activity* Large m
[24 Jun '16 13:21]

Mining sector sheltered from Brexit shock by gold and dollar strength

* Mining sector falls less than blue-chip FTSE 100 index* Uncertainty complicates debt and M&A activity* Large mining companies had opposed British ex
[24 Jun '16 13:13]

FTSE hits two-month high as Britain votes on EU membership

* FTSE 100 index up 1.2 pct at close, a 2-month high* Set for biggest weekly gain since 2011* Miners track metals prices higher* Tesco advances after
[23 Jun '16 17:10]

FTSE reaches two-month high as Britain votes on EU membership

* FTSE 100 index rises 1.7 percent to two-month high* Set for biggest weekly gain since 2011* Miners track metals prices higher* Tesco rises after sal
[23 Jun '16 10:45]

FTSE near 2-week high as voting starts in Britain's EU referendum

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)*
[23 Jun '16 09:49]

Britain's FTSE supported by commodity stock rebound

* FTSE 100 up 0.4 pct* Miners, oil firms rebound* Whitbread rises after results* Circassia Pharmaceuticals rises after sharp slump (ADVISORY- Follow
[21 Jun '16 17:59]

Samarco bonds tumble on possible debt talks

By Paul KilbyNEW YORK, June 21 (IFR) - Bonds issued by Samarco fell four points on Tuesday following news that the Brazilian mining company has hired
[21 Jun '16 17:17]

Britain's FTSE eases as commodities stocks weigh

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)*
[21 Jun '16 09:40]



Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.