BHP pursues with the expansion of WA unit, despite the decline in iron ore price

CANBERRA (Scrap Monster): But all this focus on the mine can be cut out by the president of iron ore unit, Jimmy Wilson, can host all the investors to give them a tour to Pilabara region, for the next few weeks, and convince all the greedy investors about the endless benefit of the expansions. The price of iron ore is showing no signs of coming back and along with that so much have changed since August, when the project was declared at half of the present  rate of the project.

BHP Billiton has been pulled down to 14 percent, since August 16, as the price of iron ore as well as the price of oil slide down steeply, even though the company released a full year report, it held back the long expected share buyback and announced the 17 billion dollars worth spin off in in non core assets.

The most important news was missed among other announcements, that the ports, rails and annual capacity of the Pilabara with an extra 65 billion tonnes, which would make it a total of 290 million tonnes. And along with that the cost of production per tonne would be declined to 50 dollars. But according to the present estimations the expansion is exceeded with 3 billion dollars with an extra 20 million tonnes in the previous estimate.

Mr. Wilson has already planned a meeting with the investors as well as the media, who all would be anticipated to know more regarding the details on the expansion and its timing and the plans of the regarding extraction of unaccounted 14 million tonnes of iron ore.