BHP Billiton (ASX:BHP) will pour $260 million into advancing a diamond mine in Canada.
The global miner’s Misery open pit project is now expected to begin ore production in late 2015 and final production in mid 2017.
BHP says the project consists of a pushback of the existing Misery open pit which was mined from 2001 to 2005.
Stripping operations are expected to start in October this year.
BHP advises that its estimated capital cost is $US323 million of which the company has an 80 per cent share.
In the first six months of its 2011 financial year, BHP Billiton recorded a net profit of $10.5 billion.
