According to a report released by the Australian Bureau of Resources and Energy Economics (BREE) on November 29, the country's mining investments increased by 34 percent to $US229.8 billion in the six months ended October 31 this year.
The report shows that the largest iron ore mining project which was completed in the six months to October 31 was the Western Australian Iron Ore Rapid Growth Project 5 (RGP5) completed by BHP Billiton at a capital cost of US$5.65 billion. The expansion project will increase capacity at BHP Billiton's Western Australian iron ore mines by 50 million mt per year. The capital cost of the project also included expansions to rail and port infrastructure.
Meanwhile, in Australia the largest coal mine project in terms of capital expenditure is the Caval Ridge/Peak Downs project which is being developed by BHP Billiton Mitsubishi Alliance (BMA) and is located in the Bowen Basin. The project consists of construction of the Caval Ridge mine (capacity of 5.5 million mt of coking coal) and expansion of the neighbouring Peak Downs mine (additional capacity of 2.5 million mt of coking coal). The US$4.4 billion project is scheduled for completion in 2014. Additionally, in New South Wales, Rio Tinto has approved a 6 million mt and US$260 million expansion to its Hunter Valley Operations.