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Resources analyst Charlie Long sees good times ahead for uranium Watch here

Resources analyst Charlie Long sees good times ahead for uranium


Bhp Billiton Share News (BLT)

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Share News for Bhp Billiton (BLT)


Share Price: 1,205.00Bid: 1,204.50Ask: 1,205.00Change: 0.00 (0.00%)No Movement on Bhp Billiton
Spread: 0.50Spread as %: 0.04%Open: 1,201.50High: 1,215.00Low: 1,199.00Yesterday’s Close: 1,205.00




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)

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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.






Miner thinks small to resurrect big Canadian iron ore mine

By Susan Taylor TORONTO, May 24 (Reuters) - Champion Iron Ltd is thinking small with its plans to bring Quebec's giant Bloom Lak
[24 May '17 12:00]

UPDATE 1-Brazil miner Samarco says resuming operations this year challenging

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[23 May '17 22:12]

Tech, banks help European stocks edge up

* STOXX 600 ends up 0.2 pct* Nokia jumps after settles dispute with Apple* Upgrade boosts Banco BPM* Spanish banks recover* Greek stocks drop as debt
[23 May '17 17:32]

FTSE slips but mid-caps surge hit record high as earnings impress

* FTSE 100 down 0.15 pct* Mid-caps hit fresh record* Homeserve surges to record high on results beat* Results disappointment sends Topps Tiles down (A
[23 May '17 17:21]

CORRECTED-FTSE hovers near record level, mid-caps surge higher as earnings impress

(Corrects 'Monday's record' to 'last Tuesday's record' in par 2)* FTSE 100 up 0.3 pct* Mid-caps hit fresh record* Homeserve surges to record high on r
[23 May '17 13:45]

BHP hires Barclays to divest U.S. shale gas assets - sources

By Clara DeninaLONDON, May 23 (Reuters) - BHP has hired Barclays to divest its U.S. Fayetteville shale gas assets as the miner seeks to fend off an a
[23 May '17 12:14]

FTSE hovers near record level, mid-caps surge higher as earnings impress

(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 May '17 10:47]

Tech, banks keep European stocks afloat

* STOXX 600 up 0.2 pct* Nokia jumps after settles dispute with Apple* Upgrade boosts Banco BPM* Spanish banks recover (Recasts, adds quotes and detail
[23 May '17 10:30]



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