BHP Opts Into Four Of Polar Star’s Chilean Projects

News: Australian mining company BHP Billiton has decided to continue with the development of four of the five blocks it has been exploring in northern Chile as part of a deal with Canadian resources company Polar Star Mining , Energy Business Review reports. BHP is already reported to have completed a preliminary assessment of the sites and will now invest AUD3.9mn (US$3.5mn) into each of the four blocks to receive a 51% share in the projects.

BMI View: We forecast Chile's mining sector will grow in 2013, albeit at a more moderate pace than in previous years. Major miners will continue to develop several large projects, though rising costs and economic uncertainty will lead to more conservative expansion and acquisition plans. We forecast Chile's mining sector will expand by 1.3% in 2013. But because of weakening commodity prices, we forecast that Chile's mining industry will see average annual growth of 1.5% from 2013 to 2017.

BHP Opts Into Four Of Polar Star’s Chilean Projects

News: Australian mining company BHP Billiton has decided to continue with the development of four of the five blocks it has been exploring in northern Chile as part of a deal with Canadian resources company Polar Star Mining , Energy Business Review reports. BHP is already reported to have completed a preliminary assessment of the sites and will now invest AUD3.9mn (US$3.5mn) into each of the four blocks to receive a 51% share in the projects.

BMI View: We forecast Chile's mining sector will grow in 2013, albeit at a more moderate pace than in previous years. Major miners will continue to develop several large projects, though rising costs and economic uncertainty will lead to more conservative expansion and acquisition plans. We forecast Chile's mining sector will expand by 1.3% in 2013. But because of weakening commodity prices, we forecast that Chile's mining industry will see average annual growth of 1.5% from 2013 to 2017.

×

Enter your details to read the full article

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.

×

REQUEST A DEMO

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.

Thank you for your interest

A member of the team will be in touch shortly to arrange a convenient time for your free demonstration and trial. If your enquiry is urgent, please email our Client Services team here.