BHP, Anglo American to invest 1.0 bln dlrs in SAfrican coal

0 Comments | AFP, December, 2007

LONDON (AFP) — BHP Billiton and Anglo American, two of the world's top miners, said Friday they planned to invest nearly one billion dollars (685 million euros) in two separate South African coal projects.

Anglo-Australian mining giant BHP Billiton said in would expand its coal mine at Klipspruit in South Africa, spending 450 million dollars to increase production capacity to eight million tonnes a year from 4.8 million tonnes.

Meanwhile, Anglo American said it will invest 505 million dollars to build a six million tonnes a year coal mine at Zondagsfontein, in the northeast of the country.

This mine will be the first major project for unit Anglo Inyosi Coal, a Black Economic Empowerment company created earlier this year in which the parent holds 73 percent...