BHP Billiton issues exploration and development report

Australian iron ore giant BHP Billiton lately issued its exploration and development report covering the quarter ended on December 31, 2009.
 
According to the report, the miner's Western Australia Iron Ore Rapid Growth Project 4, which achieved first production in this period, was ahead of schedule and within budget.
 
Meanwhile, BHP Billiton's Klipspruit expansion project on energy coal in South Africa is essentially complete and has delivered first coal.
 
The approval of the Antamina expansion project on base metals in Peru was also announced on January 5, 2010, the report said.
 
On January 18, 2010, BHP Billiton announced US$267 million (BHP Billiton's share) of pre-approval capital expenditure to accelerate the development of the Caval Ridge and Hay Point Coal Terminal Stage 3 Expansion projects. The funds will be used for feasibility studies, the procurement of long-lead time items and initial project activities. BHP and Mitsubishi own the Caval Ridge and Hay Point projects through a 50:50 joint venture.