Global iron ore miner BHP Billiton Ltd
(ASX:BHP) is to develop a new coal terminal at Abbot Point in QLD after being named the preferred bidder by the state government.
The new port is to be built at the existing Abbot Point terminal and has been prompted by significant growth in coal exports used in steel making from the Bowen Basin.
According to the Dow Jones Newswires, BHP’s metallurgical coal president Hubie van Dalsen says the new Abbot Point coal terminal is a key element in the company’s growth plans as demand increases.
BHP will now engage the QLD Government in discussions on the details of the terminal’s construction.
In other news circulating today, Cambodia’s Prime Minister has rejected claims that BHP paid a large bribe for an exploration contract.
Last week news broke that BHP was being investigated by the US Securities and Exchange Commission over a US$2.5 million payment related to a project in Cambodia.
BHP has said that the money was given to a community in Cambodia’s east for the development of local welfare programs. BHP earned $7.2 billion for fiscal 09.
