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BHP approves $900 million expansion for Pilbara iron ore project
Construction is set to start this month, with first ore targeted for fiscal 2029 and capacity expected to reach 20 million tonnes per annum once ramped.
BHP has approved a $900 million investment to develop the Ministers North iron ore project in Western Australia's Pilbara, using it as a satellite extension of the company’s Yandi mine, according to Yahoo Finance.
The project will develop the Brockman ore deposit and is designed to leverage existing infrastructure to cut development costs and improve operational efficiency, with a planned 13-kilometre haul road and land bridge linking Yandi and Ministers North.
Once fully ramped up, Ministers North is expected to produce 20 million tonnes per annum and support BHP’s medium term iron ore target of 305 million tonnes per year on a 100% basis, the report says.
BHP said construction activities are scheduled to begin this month, with first ore targeted in fiscal 2029, and that the project is owned by a joint venture of BHP at 85%, Itochu at 8%, and Mitsui & Co. at 7%.