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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BHP Billiton Plc    BLT   GB0000566504

BHP BILLITON PLC (BLT)
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BHP Billiton Approves $2.9 Billion Capex for South Flank Project

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06/14/2018 | 01:13pm CEST

By Oliver Griffin

BHP Billiton PLC (BLT.LN) said Thursday that it has approved $2.9 billion worth of capital expenditure for its South Flank iron-ore project in central Pilbara, Western Australia.

The dual-listed mining company said the project will fully replace production from the 80 million-ton-a-year Yandi mine, which is reaching the end of its economic life.

First ore from South Flank is targeted in 2021 and BHP Billiton said it expects the project will produce ore for more than 25 years.

In June last year, BHP Billiton approved an initial funding commitment of $184 million. The company has an 85% interest in the project, with the remaining 15% jointly owned by ITOCHU Minerals & Energy of Australia Pty and Mitsui Iron Ore Corporation Pty.

London-listed shares at 1052 GMT were down 1.8% at 1,717.60 pence.

Write to Oliver Griffin at oliver.griffin@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
BHP BILLITON LIMITED -0.30% 32.74 End-of-day quote.10.72%
BHP BILLITON PLC 0.49% 304.5 End-of-day quote.19.71%
BHP BILLITON PLC -0.16% 1629.4 Delayed Quote.7.02%
LME COPPER CASH 0.29% 5860 End-of-day quote.-18.40%
WTI 0.31% 65.56 Delayed Quote.7.94%
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Financials ($)
Sales 2018 45 555 M
EBIT 2018 15 939 M
Net income 2018 7 084 M
Debt 2018 12 050 M
Yield 2018 5,86%
P/E ratio 2018 17,99
P/E ratio 2019 12,01
EV / Sales 2018 2,89x
EV / Sales 2019 2,91x
Capitalization 120 B
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Mean consensus HOLD
Number of Analysts 23
Average target price 23,1 $
Spread / Average Target 11%
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Andrew Mackenzie CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Peter Beaven Chief Financial Officer
Diane Jurgens Chief Technology Officer
Wayne William Murdy Independent Non-Executive Director
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1st jan.Capitalization (M$)
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