Labour shortages hurting BHP expansion

Wednesday, Jun 25, 2008
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BHP Billiton, the world's largest mining company, said labour shortages and infrastructure constraints are making it more difficult to add capacity. ''Substantial and continuing inflationary cost pressures'' are affecting the mining industry, chief executive Marius Kloppers said overnight in a speech in London. It's ''much more challenging to deliver large projects'' because of transport constraints and a shortage of workers, he said. Kloppers said he plans to spend $US85 billion ($89 billion) to expand production. The company is developing additional iron-ore and nickel mine capacity in Western Australia. Melbourne-based BHP is seeking approval from regulators to buy rival Rio Tinto to create a producer of a third of the world's iron ore and the biggest provider of copper, aluminum and power-station coal. A combination of BHP and Rio would vie with Brazil's Vale as the largest producer of iron ore. Prices of the steelmaking raw material and coking coal have risen to records. China is the world's largest consumer of iron ore, copper, aluminum and coal. Source: Bloomberg

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