BHP Billiton Limited (ASX:BHP) has given the green light to a $US845 million investment to sustain operations at its Illawarra Coal business in New South Wales.
The global miner’s financial commitment will allow the establishment of a newer mining area at the Appin Mine, with the project already having received all necessary approvals.
BHP says the investment sustains Illawarra Coal's production rates and recognises the value of its high quality metallurgical coal resources.
Despite BHP executives last month warning the company will delay major project approvals, the Appin Area 9 project is intended to sustain output rather than boost it.
BHP Billiton posted a net profit of $9.9 billion in the first half of its 2012 financial year.
