BHP Billiton Limited
(ASX:BHP) is set to pour $US1.97 billion into constructing a seawater desalination facility at the Escondida mine in Chile.
The global miner is the operator of the mine with a 57.5 per cent stake while rival miner Rio Tinto Limited
(ASX:RIO) holds a 30 per cent stake and will make a $US1.03 billion investment for the plant’s construction.
BHP has described the project’s approval as a milestone for its business as it will ensure continued water supply to Escondida, minimise reliance of the region’s aquifers, meet environmental commitments and achieve the company’s long term business strategy.
Construction of the plant is due to start this month and commissioning scheduled for 2017.
BHP Billiton reported a net profit of $4.1 billion in the first half of the 2013 financial year.
