Email Facebook Twitter

EXCLUSIVE: Aura Energy #Aura to IPO Swedish Vanadium prospect

Bhp Billiton Share News (BLT)

Stock Market news at - RSS News Feeds

Share News for Bhp Billiton (BLT)

Share Price: 1,634.20Bid: 1,633.80Ask: 1,634.20Change: 0.00 (0.00%)No Movement on Bhp Billiton
Spread: 0.40Spread as %: 0.02%Open: 1,653.40High: 1,657.00Low: 1,624.80Yesterday’s Close: 1,634.20

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

( 33 864 5077)(Reuters Messaging: Reuters Messaging:

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.

FTSE rebounds as trade worries ease, pound weakens further

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 1 pct, mid caps up 0.8 pct* Brexit talk concerns send pound to 7
[20 Jun '18 09:53]

UPDATE 2-BHP to sell Chilean copper mine to private equity fund EMR Capital

* BHP favours large scale, long-life assets* BHP agrees cash payment of $230 million (Adds BHP's statement)LONDON, June 19 (Reuters) - BHP said on Tu
[19 Jun '18 13:35]

BHP to sell Chilean copper mine to private equity fund EMR Capital - sources

LONDON, June 19 (Reuters) - BHP has agreed to sell Cerro Colorado copper mine to private equity fund EMR Capital, two sources said on Tuesday.The wor
[19 Jun '18 12:48]

UPDATE 1-Oil stocks help FTSE 100 outperform amid trade tensions

* FTSE 100 down 0.03 pct* Consumer staples multinationals hit by trade fears* Cobham jumps 4.6 pct on MS upgrade* Indivior gains as U.S. court blocks
[18 Jun '18 17:27]

Oil stocks help FTSE 100 outperform European peers amid trade tensions

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.1 pct* Cobham jumps 6 pct on MS upgrade* Indivior gains as U
[18 Jun '18 10:37]

UPDATE 1-Trade tariffs send Britain's FTSE to fourth straight week of losses

* FTSE 100 down 1.5 pct* $50 bln U.S. tariffs on Chinese imports end post-ECB rally* Miners, oil majors, bank stocks sink* Rolls Royce revs up 7.6 pct
[15 Jun '18 17:24]

UK stocks eye strongest gains in a month, Rolls Royce soars

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.5 pct* Set for strongest in five weeks* Rolls Royce revs up
[15 Jun '18 10:01]

BHP approves $2.9 billion spend on iron ore project

LONDON, June 14 (Reuters) - BHP on Thursday approved spending $2.9 billion to develop its Western Australian South Flank iron ore project in the cent
[14 Jun '18 16:23]

Share Price, Share Chat, Stock Market news at
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

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.