BHP Billiton (BHP) Antamina Joint Venture Gets OK from Shareholders for $1.29B Expansion (TCK)

BHP Billiton Ltd (NYSE: BHP) Tuesday said four partners in the Antamina copper and zinc mine in northern Peru had approved a $1.29 billion project to expand operations. Antamina is a joint venture between BHP and Xstrata PLC, which both hold 33.75% stakes, Teck Resources Ltd. (NYSE: TCK) with 22.5%, and Mitsubishi Corp. with 10%. BHP's share of the project is $434.7 million.

The expansion project will increase the site's ore daily processing capacity by 38% to 130,000 metric tons and extend the mine's life by six years to 2029, BHP said. First production from the expansion is anticipated in late 2011.

The mine produced 358,179 tons of copper and 382,842 tons in zinc in 2008.

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