BHP considers $3B aluminium smelter in Congo

BHP Billiton is reviewing a $3 billion plan to build the company's largest aluminium smelter in the Democratic Republic of Congo. The smelter would be the biggest investment ever in the war-torn country. It would pull power from the proposed Inga 3 hydropower project and would produce 800,000 metric tonnes of metal a year, BHP said. "This is definitely a vote of confidence in the country's stability," Reg Rumney, an independent investment analyst, told Bloomberg. "If BHP can get cheap electricity from Inga, it'll be a big advantage for them." BHP operates two other aluminium smelters, one in Mozambique and one in South Africa. The company's shares are down $2.39 to $80.25 today on the New York Stock Exchange.