BHP acquires Chile coal deposit

GLOBAL miner BHP Billiton has acquired a significant coal deposit in Chile's southernmost Twelfth Region, Chilean newspaper Diario Financiero reported last week.

Staff Reporter

BHP Billiton Base Metals vice-president of corporate affairs Mauro Valdes told the newspaper the company was conducting field studies to assess whether the project would be profitable within BHP's business plans.

The deposit's previous owner estimated 4 million metric tonnes per annum could be produced at the site, according to newspaper reports.

There are more than 50 Australian mining-related companies established in Chile, with many now looking more actively at geologically attractive prospects across the region.

BHP Billiton also holds a 57.7% stake in Chile’s La Escondida copper mine, the world's largest source of copper.