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BHP Billiton earmarks $30mn for exploration

BHP Billiton Minerals Exploration, has earmarked $30mn for mineral exploration in Zambia, Africa’s top copper producer, over the next five years.

Australian mining giant, BHP Billiton Minerals Exploration, has earmarked $30mn for mineral exploration in Zambia, Africa’s top copper producer, over the next five years

According to company president, Ian Maxwell, BHP is well positioned to deliver value and make returns in its investment portfolio projects in Zambia and Africa as a whole.

“We are actually seeking for more investment opportunities in the country. Africa is a key location for us in global search for copper and other major minerals,” he elaborated.

The firm is attracted to invest further in Zambia due to the country’s low risk destination status, which emanates from a stable political environment.

BHP Billiton is pleased to contribute to the country’s mineral future which is assured by long-term demand growth in the sector.

The company has invested $24bn in major projects worldwide with its global capital plan for the next half decade being pegged at eight billion dollars. It is interested in investing substantial amounts of money in energy-related projects, copper and manganese projects.

BHP Billiton is the world’s largest diversified natural resources company with 100 operations in 25 countries. The firm occupies significant positions in major commodity businesses, including aluminum, energy coal and metallurgical coal, copper, manganese, iron ore, uranium, nickel, silver and titanium, and has significant interests in oil, gas, liquefied natural gas and diamonds.

 

By Nawa Mutumweno

African Review

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