SMM7, March 15-BHP Billiton (BHP) said 11 more iron ore mines could be built in the Pilbala (Pilbara) area of Western Australia in the next 50 to 100 years.
The main reasons are soaring iron ore prices, China's huge demand for iron ore and a decline in Brazilian iron ore exports. Iron ore prices have soared 65 per cent this year to a five-year high.
BHP Billiton has signed an agreement with the Western Australian government to simplify the environmental permits needed for long-term iron ore construction.
BHP Billiton, which produced 275 million tons of iron ore in Western Australia in fiscal 2018, is now expected to increase capacity to 290 million tons.
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