minerals and energy - australian natural resources data...
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�australiancommodities • vol. 12 no. 4 • december quarter 2005
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• William Mollard • +6� 2 6272 2096 • [email protected]
Minerals and energymajor development projects – October 2005 listingWilliam Mollard and commodity analysts, Commodity Forecasting Group
•Therecordnumberofmineralsandenergyprojectsthatarecurrentlycommittedtoorun-derconstructionwilladdsignificantly to thesector’sproductionandexportcapacityintheshorttomediumterm.
• Inaddition,totalAustralianmineralsexplo-ration expenditure and capital expenditurein2004-05was thehighest since1997-98,whichbodeswell for futuredevelopment inthesector.
ExplorationexpenditureIt is important to recognise that the ability of Australia’s minerals and energy sector to sustain its strong recent growth and expand its contri-bution to national economic performance in the medium and longer term depends critically on the amount of investment in minerals explora-tion. Most of the strong growth in the minerals and energy sector of recent years, and most of the expected growth implicit in ABARE’s list of planned projects, is underpinned by minerals exploration expenditure of the past decade.
Australian minerals exploration expenditure, in real terms (2004-05 dollars), for the period 1980-81 to 2004-05 is shown in figure A.
Expenditure rose strongly in 2004-05In 2004-05, total Australian minerals explora-tion expenditure increased by 20 per cent to over $2 billion. In real terms, expenditure in 2004-05 was the highest since 1997-98. However,
real expenditure in 2004-05 (in real terms) was still 3 per cent below the average annual expen-diture on minerals exploration over the past 25 years. While the substantial number of minerals and energy projects in ABARE’s latest project list will ensure robust growth in the productive capacity of the mineral resources sector over the medium term, continued sectoral growth over the longer term will require levels of real average annual exploration expenditure around, or higher than, that in 2004-05.
In 2004-05, all major commodity categories except gold, recorded increases in expenditure.
Expenditure on petroleum exploration in-creased by 11 per cent in 2004-05, to around $1.05 billion. However, this is still around 6 per cent lower than annual average expenditure in real terms over the past 25 years ($1.12 billion). The increase in petroleum exploration expendi-
2004 05
1999-2000
1994-95
1989-90
1984-85
$b
1.0
1.5
2.0
0.5
2.5
3.0
3.5
A Australian private minerals explorationexpenditure In 2004-05 dollars
OtherBase metalsGoldOther energy Petroleum
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ture in 2004-05 is likely to have been encouraged by a significant rise in world oil prices during the year.
However, short term oil prices are only one factor in determining exploration expenditure in any particular period and a range of other factors are also expected to have had a signifi-cant bearing on exploration expenditure deci-sions. These include factors such as: longer term oil price trends; Australia’s relative prospec-tivity for petroleum; the prospect for Australia’s share of growing global LNG trade; the need for long term planning, particularly for relatively expensive offshore petroleum exploration; and the concurrent commitment of resources (funds, equipment and labor) to other activities such as project development.
Gold exploration expenditure declined by just over 1 per cent in 2004-05 to $392 million, despite
a significant increase in US dollar denominated gold prices. In real terms, expenditure in 2004-05 was the lowest since 2001-02.
There are a number of possible explanations for a decline in expenditure on gold exploration in 2004-05. While US dollar denominated gold prices increased by over 8 per cent in 2004-05, the Australian dollar rose by close to 6 per cent against the US dollar over the same period. As a result, Australian dollar gold prices increased only marginally in 2004-05. In many cases the benefit conferred by the small rise in Australian dollar prices was more than offset by significant increases in mine and mining development costs because of increases in the costs of labor, fuel and other inputs (such as steel).
Furthermore, with prices of base metals rising substantially in 2004-05, companies with inter-ests in both gold and base metals are likely to
The full listABARE’s listings of major minerals and energy projects expected to be developed over the medium term are compiled every six months. Information contained in the lists spans the mineral resources sector and includes energy and minerals commodi-ties projects and minerals processing projects. The information comes predominantly from publicly available sources but, in some cases, is supple-mented by information direct from companies. The lists are fully updated to reflect developments in the previous six months.
What’s in the listThe latest projects list contains information on 241 projects, providing the following details:• project name• proponent company or joint venture• location• project status• expected startup date• additional output capacity• capital cost of the project• additional employment, where available.
With one industry exception, ABARE’s listing provides details of announced projects for which
total capital expenditure is expected to exceed $40 million. The exception is the gold industry, which typically has a relatively large number of smaller projects. For gold, the expenditure threshold for inclusion in the table is $15 million.
In general, projects identified are at relatively advanced stages of planning. That is, for new projects, stage of planning categories range from
‘feasibility study underway’ through to ‘under construction’.
Projects are listed by the principal mineral commodity to be produced, under the broad head-ings: ‘Mining projects – energy’, ‘Mining projects
– minerals’ and ‘Minerals processing facilities’. The table includes new greenfields projects as well as expansions of existing projects.
Where to get the listThis projects listing is released around May and November each year. The lists are available only as electronic products.
The list can be downloaded from ‘Publications’ at www.abareconomics.com
enquiries: [email protected] phone +61 2 6272 2010.
ABARE’s list of major minerals and energy development projects
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have focused their exploration expenditure on their base metals interests during the year.
Base metals exploration expenditure increased by 72 per cent to $261 million in 2004-05. This increase was attributable to an 88 per cent increase in expenditure on both copper and nickel exploration, reflecting a substantial rise in global prices for copper and nickel since the beginning of 2003. For example, world copper prices increased by over 120 per cent from the beginning of 2003 to the end of June 2005. In real terms, exploration expenditure on base metals in 2004-05 was 10 per cent higher than the 25 year average ($237 million) and was the highest since 1997-98.
Expenditure on three other commodities — iron ore, coal and uranium — increased by 56 per cent in 2004-05 to a total of $228 million. Exploration expenditure on iron ore more than doubled in 2004-05 to $138 million and this increase accounted for over 90 per cent of the total increase in expenditure for these commodi-ties. The substantial rise in expenditure on iron ore was prompted largely by a positive outlook for China’s demand for this commodity. Uranium exploration expenditure almost doubled (to $21 million) because of a substantial rise in global spot uranium prices over the past year, as well as a positive price outlook over the medium term.
Expenditure in the medium termIn general, decisions to invest in minerals explo-ration depend on the probability of discovering an economic deposit or extending the resource base of a known deposit. A range of economic and policy factors will also influence companies’ expectations of the likely return on investing in exploration. Such factors include: expecta-tions and risks relating to mineral prospectivity; prevailing and expected mineral prices; existing mining and processing technologies; input costs more generally; land access; and government policies.
Over the medium term, exploration expendi-ture in each of the main exploration sectors is expected to be influenced by a different set of factors.
In the petroleum sector, Australia’s prospec-tivity for crude oil together with the long term
outlook for global oil prices will be key factors in determining future exploration activity and expenditure. With world oil prices forecast to remain high in 2006, further increases in explo-ration expenditure are likely.
Movements in the Australian dollar gold price will be a key factor influencing gold exploration expenditure. However, expected future costs of exploration and development will also play an important role in determining future expendi-ture. As mentioned previously, rises in the costs of labor, fuel and other inputs (such as steel) have increased development costs and may continue to be a negative influence on gold exploration expenditure over the medium term.
In the base metals sector, the price outlook will clearly be important, as demonstrated by the recent rise in nickel and copper exploration expen-diture. While world prices for copper and nickel are expected to ease in 2006 (although remain -ing relatively strong), zinc prices are expected to rise next year. These market factors may provide further impetus for exploration expenditure in this sector. Other important factors are expected to be: expectations of the future strength (or otherwise) of Chinese demand for base metals; assessments of the development potential of several known (but as yet undeveloped) base metal deposits in Australia; and Australia’s rela-tive attractiveness for exploration.
CapitalexpenditureData from the ABS surveys of new capital ex-penditure in the mining and metal products industries give an indication, in aggregate terms, of the pace and scale of development in the minerals and energy sector, both historically and in the short term (figure B).
ABS Survey data show that new capital expen-diture in the mining industry was just under $10.3 billion in 2004-05, 11 per cent higher than in 2003-04. In real terms (2004-05 dollars), new capital expenditure in 2004-05 was the highest since 1998-99 and was 34 per cent higher than the average annual expenditure for the past 25 years.
There are good indications that capital expen-diture on mining may increase further in 2005-
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06. Based on industry intentions canvassed in the September quarter 2005, ABS data indicate
that capital expenditure on mining in 2005-06 may increase to around $11.5 billion. The scale of this expenditure and its order of increase are consistent with the development trends shown in the full list of major mineral and energy projects (see figure H).
Capital expenditure in the metals products sector, which includes the minerals processing activities covered in ABARE’s projects list, was just under $3.4 billion in 2004-05, 25 per cent above expenditure in 2003-04. Surveyed industry intentions suggest that capital expen-diture in the sector could rise by a further 19 per cent in 2005-06 to over $4 billion. In real terms, estimated expenditure in 2005-06 would be almost 80 per cent above the 24 year annual average of $2.2 billion (in 2004-05 dollars).
In 2005-06 if the expenditure intentions for both the mining and metal products sectors were
New capital expenditureIn 2004-05 dollars B
2005 -06
2001-02
1993-94
1997-98
1985-86
1981-82
1989-90
2
$b
4
6
8
10
12
14 Metal products Mining
1Majormineralresourcedevelopments–projectscompleted,MaytoOctober2005
CapitalCommodity Project Location Company expenditure
$mMining – energy projects
Black coal Rolleston opencut Qld Xstrata 291 Minerva opencut Qld Felix Resources/Sojitz 68 Yallourn coalfield Development Project Vic TRUenergy 120
Petroleum Basker and Manta oil field Vic Anzon Australia/ Beach Petroleum 260 John Brookes gas project WA Apache Energy/Santos/ Encana/Exxon Mobil 300 Kwinana refinery clean diesel project WA BP 60
Mining – minerals projectsGold Paulsens WA NuStar Mining 31
Iron ore Yandicoogina mine expansion project WA Rio Tinto 382 West Angelas WA Rio Tinto/Robe River 217
Lead/zinc/silver Mount Garnet expansion Qld Kagara Zinc 30
Mineral sands Gingin WA Iluka Resources 43
Minerals processing projectsAluminium Tomago Smelter Upgrade NSW Tomago Aluminium 210
Totalcapitalexpenditure 2012
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realised, total capital expenditure in the mineral resources sector could rise by around 11 per cent, in real terms.
Over the medium term, there is evidence to suggest that there is potential for further growth in resource sector capital investment. This assessment is based on the observation that there are a significant number of advanced projects in ABARE’s projects list (particularly a number of high cost petroleum developments), and that there now exists a number of large scale but less advanced projects that may be developed in a longer timeframe.
RecentlycommissionedprojectsIn the six months ended October 2005, twelve major minerals and energy projects with a combined capital expenditure of $2 billion were completed. These completed projects will add to the sector’s production and export capacity for a range of commodities, including natural gas, coal, crude oil, gold, iron ore, mineral sands, zinc and aluminium. Summary details of these projects are shown in table 1.
The project completion rate in the six months to the end of October 2005 was significantly lower than the completion rate in the previous six months (23 projects were completed in the six months to April 2005) but is around the average completion rate over the past seven years (table 2; figure C).
The average value of projects completed in the period to October 2005 ($168 million, in nominal terms) was lower than the average value in the past seven years ($230 million). Looking ahead, ABARE’s projects list indicates that the rate of project completions is likely to increase in the short term, with around sixteen proj-ects scheduled for completion in the final two months of 2005 alone. Of these projects, six are coal related developments.
Of the major projects completed in the six months ended October 2005, the largest in terms of capital cost was Hamersley Iron’s (wholly owned subsidiary of Rio Tinto) Yandicoogina mine expansion in the Pilbara region of Western Australia. The capital cost of this expansion was $382 million and will increase iron ore produc-
tion by around 12 million tonnes a year. The second major iron ore project completed was Robe Rivers’ (53 per cent owned by Rio Tinto) West Angelas mine expansion, also in the Pilbara
2Completedprojects,June1998toApril2005
Capital costofprojects Number ofprojects Total Average
no. $m $mSixmonthsendedJune 1998 3 415 138December 1998 18 3 500 194June 1999 19 6 500 342December 1999 16 4 300 269June 2000 9 1 800 200December 2000 9 1 700 189June 2001 5 282 56December 2001 5 262 52June 2002 10 1 082 108December 2002 10 2 110 211
FourmonthsendedApril 2003 4 400 100
SixmonthsendedOctober 2003 6 937 156April 2004 13 4 956 381October 2004 9 3 328 370April 2005 23 5 812 253October 2005 12 2 012 168
Total 171 39 396 230
Completed projects
1998 2000 2002 2003 2004 2005
$b
2
4
6
J D J D J D J D J D Apr Apr AprOct Oct Oct
Total capital cost of projects Average capital
cost of projects
C
$m
100
200
300
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region. The capital cost of this expansion was $217 million for additional output of around 5 million tonnes a year.
Three petroleum developments were com-missioned in the six months to October 2005. The largest of these was the $300 million John Brookes offshore gas development in the Carnarvon Basin in Western Australia. At full capacity, output from the Apache Northwest operated John Brookes field is expected to be around 240 terajoules a day of natural gas. In the Gippsland Basin, Anzon Australia (operator) and Beach Petroleum brought the $260 million Basker and Manta oil field into production. At full production (mid-2006), the field is expected to produce up to 25 000 barrels a day of crude oil. The other comparatively smaller petro-leum project completed during this period was BP’s $60 million Kwinana refinery clean diesel project.
Three coal projects were completed in the six months to October 2005. The largest of these was Xstrata’s Rolleston opencut mine, in Queensland. This mine was developed at a cost of $291 million and will produce up to 8 million tonnes a year of thermal coal by 2008.
TRUenergy’s $120 million Yallourn coal-field development project in Victoria involved the diversion of the Morwell River across and above the Yallourn opencut brown coal mine in order to allow access to the Maryvale coal deposit. The other coal project completed over this period was Felix Resources and Sojitz’s Minerva opencut operation in Queensland. This $68 million project is expected to reach full capacity, of 2.5 million tonnes a year of thermal coal, in early 2006.
NuStar Mining’s $31 million Paulsens mine in Western Australia was the only major gold project completed in the six months to October 2005. The Paulsens gold mine will produce around 80 000 ounces a year initially before increasing to around 135 000 ounces a year.
Three other projects were completed in the six months to October 2005. In aluminium, Tomago Aluminium recently completed a $210 million technological upgrade (from AP18 to AP22 technology) of the Tomago aluminium smelter, which is expected to increase production capacity
by around 70 000 tonnes a year. Kagara Zinc’s Mount Garnet operation is now sourcing ore from the Balcooma and Dry River South Orebodies following the recent completion of a $30 million project. Iluka Resources commenced mining at its new $43 million Gingin mineral sands opera-tion in the six months to October 2005. The Gingin operation will produce around 900 000 tonnes of chloride grade ilmenite, 75 000 tonnes of rutile and 65 000 tonnes of zircon over a three and a half year period.
Having come on stream, the above projects no longer appear in ABARE’s project list.
AdvancedprojectsAt the end of October 2005, there were 84 proj-ects at advanced stages of development included in ABARE’s project list (figure D) — that is, proj-ects that are either committed or under construc-tion. This is ten more than the previous record number of advanced projects (74) included in the April 2005 list. This increase is a reflection of both a fall in the project completion rate in the six months to the end of October 2005 (from the previous six month period) and that a substantial number of new projects have entered the list at the committed stage.
The announced capital expenditure of the 84 advanced projects at the end of October 2005 sums to $29.4 billion (table 3). However, even projects that have reached the committed stage may be deferred, modified or even canceled if economic or competitive circumstances change sufficiently.
The 84 advanced projects as at October 2005 indicate continued expansion across most of the minerals and energy industry spectrum. However, based on capital expenditure, there is a slight weighting toward petroleum and coal projects.
Proposed energy developments account for 40 of the 84 advanced projects (49 per cent) but account for just over 51 per cent (or $15.1 billion) of the estimated capital cost of all of the advanced projects (table 3). Four large petro-leum developments account for over half of the total value of energy projects. The largest of these is ConocoPhillips’ (operator) $3.3 billion,
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3Committedprojects,October2005—numberandestimatedcapitalcost,bystate
Minerals Energyprojects Miningprojects processing Total
Number Cost Number Cost Number Cost Number Cost
no. $m no. $m no. $m no. $m
New South Wales 12 1 065 3 481 4 360 19 1 906Victoria 3 1 500 3 710 0 0 6 2 210Queensland 17 4 852 6 535 4 750 27 6 137Western Australia 6 3 857 19 8 512 2 716 27 13 085South Australia 0 0 1 325 0 0 1 325Tasmania 1 500 0 0 0 0 1 500Northern Territory 1 3 300 1 66 1 1 860 3 5 226
Australia 40 15 074 33 10 629 11 3 686 84 29 389
Bendigo (gold)
Ballarat East (gold)
Enfield(oil)
Wambo rail (coal)
Wambo opencutand underground
(coal)
Ashton (coal)Cliff Head (oil)Koolyanobbing (iron ore)
Advanced minerals and energy projectsOctober 2005
$0–100m$101–500m$501–1000m
>$1000m
Capital expenditure
Processingfacility
Mine/platform
D
Hobart
Brisbane
Canberra
Perth
Sydney
Darwin
Melbourne
Townsville zinc refinery
Worsley refinery(alumina)
Pinjarra refinery (alumina)
Yandicoogina (iron ore)
Project Magnet (iron ore)
Rapid growth projects 2 and 3 (iron ore)
Dampier Port Expansion (iron ore)
Ravensthorpe(nickel)
BassGas (gas)
Casino (gas)
Otway (gas)
Kurri Kurri stage 1 and 2
(aluminium)
Coating plant (steel)
Sandgate(coal)
Newpac (coal)
Northern 3500 orebody (copper)
Mt Isa smelter (copper)
Carborough Downs (coal)Broadmeadow (coal)
Dalrymple Bay coal terminal
Maggie Hays (nickel)Flying Fox (nickel)
Perseverence (nickel)
Black Swan (nickel)
Raleigh (gold)Sunrise Dam (gold)
Wallaby (gold)
Charters Towers (gold)
Twin Hills (gold)
Altona refinery (petroleum)
Magellan (lead) (stage 2)
Cowal (gold)
Rio Tinto rail duplication (iron ore)
Darwin LNG plant
Lytton refinery(petroleum)
Kurnell refinery (petroleum)
Weipa(bauxite)
(stage 2)
Perseus (gas)Karratha LNG plant
Goodwin A LPT (gas)
NorthWest Shelf (gas)
Burrup Fertilisers (ammonia plant)
Ellendale (diamonds)
McArthur River (zinc/lead)
Ulan (coal)
Austar (coal)
Ravensworth West (coal)
Berwyndale South (coal seam methane)
Abbot Point coal terminal
S230(aluminium)
RG Tanna coalterminal
Orica (ammonium nitrate plant)
Camden (gas)
Kogan North (coal)
Tom Price (iron ore)
Nifty (copper)
Ridgeway Deeps (gold)Gingko (mineral sands)
Goondicum(mineral sands)
Douglas(mineral sands)
Newlands Northern(coal)
Red Mountain JV (coal)
Hail Creek (coal)
Clermont (coal)
Moranbah (Millenium) (coal)
Grasstree (coal)
Dawson Complex (coal)
BMA coal expansion
Blackwater(coal handling
and processing)
Alcan refinery expansion(alumina)
Yabulu refinery (nickel)
Port Kembla hotstrip mill (steel)
Adelaide
Mt Owen(coal)
Lake Lindsay (coal)
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3.24 million tonnes a year capacity Darwin LNG plant, scheduled to be completed in 2006, which will use ‘recycled’ Bayu/Undan gas as feed.
The three other major proposed projects are all Woodside operated. The $2 billion North West Shelf Project in Western Australia involves the construction of a fifth processing train — with gross annual capacity of 4.2 million tonnes of LNG — and is expected to be completed in late 2008. The other two projects include the Enfield oil field, scheduled for completion by late 2006 at a capital cost of around $1.5 billion, and the $1.1 billion Otway gas project in offshore Victoria, scheduled for completion in mid-2006.
There are 26 advanced coal projects as at October 2005, with a combined capital cost of $5.3 billion. The largest of these is Anglo Coal Australia (a wholly owned subsidiary of Anglo American) and Mitsui’s $688 million Lake Lindsay and $800 million Dawson coal projects, both in Queensland. When both of these project reach full production, Anglo Coal’s annual output of metallurgical coal will increase from around 11 million to 16 million tonnes a year.
The large number of coal projects sched-uled for completion in Queensland in the short to medium term has driven expansions to coal terminals — there are three advanced projects either committed or under construction. These expansions have an estimated capital cost of $1.5 billion and will increase total port capacity in Queensland by an estimated 72 million tonnes a year. The largest of these is Babcock and Brown Infrastructures’ $850 million expansion of the Dalrymple Bay coal terminal that will increase port capacity from 60 million tonnes a year to 85 million tonnes a year by late 2008.
Ports Corporation of Queensland’s $430 mil-lion Abbot Point coal terminal expansion (stage 3), near Bowen in Queensland, will increase capacity by around 25 million tonnes a year by 2009. The Central Queensland Ports Authori-ties’ $232 million expansion of the RG Tanna coal terminal will increase the capacity of the terminal from 45 million tonnes a year to 67 million tonnes a year by late 2006.
Over the past six months there has been a slight rise in the number and value of mineral mining projects currently committed. At the end
of October 2005, there were 33 advanced mineral mining projects valued at over $10.6 billion, compared with 29 advanced projects valued at $7.4 billion at the end of April 2005.
Of the 33 mining projects in total, eight are iron ore projects, with total capital expenditure of around $5.7 billion. The largest of these is BHP Billiton’s recently committed $2 billion Rapid Growth Project 3, in the Pilbara region of Western Australia. This project will increase capacity at the Area C iron ore mine by 20 million tonnes a year, with initial production expected to begin in late 2007. BHP Billiton’s $767 million Rapid Growth Project 2, also in the Pilbara, is scheduled for completion in late 2006 and will increase capacity by 8 million tonnes a year.
Rio Tinto’s $1.1 billion expansion of its Dampier port facilities will increase capacity by 42 million tonnes a year and is expected to be completed by the end of 2005. Following the completion of the 12 million tonne expansion of the Yandicoogina iron ore mine in August 2005, Rio Tinto committed to another expansion of this mine in late October 2005. This expansion is expected to cost $707 million and will increase annual iron ore production capacity from Yandi-coogina from 36 million to 52 million tonnes a year.
For nickel, BHP Billiton’s $1.8 billion greenfields Ravensthorpe mine is scheduled for completion in mid-2007. The Ravensthorpe mine will produce up to 50 000 tonnes of nickel a year, which will be processed at the Yabulu refinery in Townsville.
At the end of October 2005, there were eleven advanced minerals processing projects — one more than in April 2005. Three alumina projects together contribute around 70 per cent of the total of $3.7 billion in capital expendi-ture for advanced mineral processing projects. The largest, in terms of capital cost, is Alcan’s $1.9 billion refinery expansion at Gove in the Northern Territory. The expansion is expected to add 1.7 million tonnes a year to Australia’s alumina capacity following commissioning in 2007.
In Townsville, QNI’s $613 million expansion of its Yabulu nickel refinery — a development linked to BHP Billiton’s Ravensthorpe nickel
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mine development in Western Australia — is currently under construction and is expected to be completed late in 2007.
Figure E provides a breakdown of proposed capital expenditure on advanced projects, by major commodity grouping. Figure F shows the estimated capital cost on a state basis.
The number of advanced projects is higher than the record number recorded in April 2005 (figure G). The total value of advanced projects in October 2005 (in 2005 dollars) is also higher than the record established in October 2004 (figure H).
The real average value of advanced projects at the end of October 2005 ($350 million) is 4 per
Value of committed projects by commodity, October 2005
Petroleum 33%
Coal 18% Alumina 9%
Gold 4%
Nickel 7%
Iron ore 19%
Other 10%
$29.4 billion
E
Value of committed projects by state, October 2005
New South Wales 6%Victoria 8%
Queensland21%
Western Australia 44%
SouthAustralia 1%
Tasmania 2%
Northern Territory 18%
$29.4 billion
F
Number of committed projects
19981996 2000 June Dec Apr Apr AprOct OctOct
no.
20
40
60
2002 2003 2004 2005
G Minerals processing Minerals Energy
Average value of committed projects In 2005 dollars
$m
200
100
300
400
1999 1996 2002 2005
I
Value of committed projects In 2005 dollars
$b
5
10
15
20
25
19991996 2002 2005
H Minerals processing Minerals Energy
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cent lower than the average for all years since 1995 ($363 million) (figure I).
LessadvancedprojectsProjects in the less advanced planning category are either still undergoing feasibility study (in some selected cases, prefeasibility study), or no definite decision has been taken on develop-ment following the completion of a feasibility study. Some of these projects cannot proceed for several years and may confront changes in economic or competitive conditions, or may be targeting the same emerging market opportunity, necessitating rescheduling. In addition, securing
finance for project development — even for high quality projects that have a high probability of success — can present problems, particularly in periods when there is perceived to be excess global supply and/or an uncertain demand outlook.
However, despite the uncertainty that attaches to projects at these earlier stages of consideration, they provide a useful indication of the nature and extent of the platform for future development of the Australian minerals and energy sector.
Of the 241 projects in total (a record) in ABARE’s October 2005 projects list, 65 per cent (157 projects) remain uncommitted. Table 4 contains a summary of the numbers and
4Numberoflessadvancedprojects–October2005
Potential capital NSW Vic Qld WA SA Tas NT Aust expend.
no. no. no. no. no. no. no. no. $m
Mining – energy projectsBlack coal 12 0 12 0 0 0 0 24 4 155Petroleum 0 3 2 8 0 0 4 17 40 476Uranium 0 0 1 0 1 0 0 2 433
Subtotal 12 3 15 8 1 0 4 43 45 064
Mining – minerals projectsCopper 0 0 5 2 3 0 1 11 4 010Gold 5 0 0 10 1 0 0 16 1 786Iron ore 0 0 0 15 0 0 0 15 11 916Lead–zinc–silver 3 0 2 1 2 1 2 11 1 197Mineral sands 3 3 0 4 2 0 0 12 622Nickel 0 0 2 9 0 1 0 12 4 164Rare earths 0 0 0 2 0 0 0 2 124Tin 0 0 0 0 0 1 0 1 53Other commodities 1 0 3 11 0 0 1 16 5 969
Subtotal 12 3 12 54 8 3 4 96 29 841
Minerals processingAlumina 0 0 2 2 0 0 0 4 2 400Aluminium 2 0 2 0 0 0 0 4 4 700Crude iron and steel 1 0 1 0 0 0 0 2 1 200Magnesium 1 1 0 0 0 1 0 3 2 465Nickel 0 0 0 2 0 0 0 2 341Titanium minerals 1 0 0 2 0 0 0 3 720
Subtotal 5 1 5 6 0 1 0 18 11 826
Total 29 7 32 68 9 4 8 157 86 731
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commodity distribution of the 157 uncommitted projects, together with their potential capital expenditure. The potential capital expendi-ture data should be used as a rough guide only. Capital expenditure data for many early stage projects are either not available or, if available, may change significantly if they do proceed to development. In addition, changes in market conditions can often lead to significant varia-tions in capital expenditure estimates.
However, most of the projects that will ulti-mately proceed to development in the medium term are included in ABARE’s current list of 157 less advanced projects.
Some of the most notable large scale proj-ects in ABARE’s October 2005 list that are still undergoing feasibility studies include Chevron Texaco’s proposed $11 billion Gorgon LNG development on Barrow Island and BHP Billi-ton’s proposed $4 billion Pilbara LNG plant near Onslow in Western Australia.
A number of other large scale projects involve iron ore, and include: BHP Billiton’s Rapid growth project 4 with a total estimated capital expenditure of $2.2 billion; Fortescue Metal Group’s Pilbara iron ore and infrastructure proj-ects with a combined capital expenditure of just under $2 billion; and Rio Tinto’s 24 million tonnes a year Dampier port expansion, at an esti-mated capital cost of $920.
ProjectsnewtoABARE’slistThere are fifteen projects at less advanced plan-ning stages that are new to ABARE’s list since April 2005. In the previous six month period there were 47 projects new to the list. The number of newly listed projects in this twelve months period (74) is high compared with earlier periods and is one indication of the current high level of investment interest in the mineral resources sector. Figure J provides a summary of numbers of newly listed projects in the six months ended October 2005 by commodity category.
Of the new projects added to the list in the six months ended October 2006, twelve are either committed or already under construction.
Of the projects new to the list, three are aimed at increasing the capacity of coal terminal infra-
structure in Queensland. The Abbot Point and RG Tanna coal terminal expansions are already committed, a reflection of the current rapid pace of infrastructure developments in the coal industry, particularly in Queensland. These proj-ects are described in more detail in the section on advanced projects. The third project involves the development of a new 25 million tonne a year coal terminal at the Port of Gladstone (near Wiggins Island). The first stage of this project is expected to involve capital expenditure of $450 million.
Two Rio Tinto owned iron ore projects, both in the Pilbara region of Western Australia, were added to the list in the six months to October 2005. The Dampier port facilities and the Yandi-coogina mine will be expanded by 24 million and 16 million tonnes a year, respectively, and involve total capital expenditure of over $1.6 billion.
The other more significant projects new to the list all involve petroleum. The $250–300 million Kipper gas field project, located offshore in the Gippsland Basin, involves the installation of subsea wells and associated pipeline infrastruc-ture. First production from the Esso Australia Resources / BHP Billiton / Woodside / Santos jointly owned project is expected in mid-2009. The $200 million Central Queensland Gas Pipe-line project involves the construction of a 420 kilometre high pressure transmission gas pipe-line from the Bowen Basin to Gladstone.
Projects added to listSix months to October 2005 Total = 27
no. 42 6 8
Other
Nickel
Iron ore
Gold
Petroleum
Mineralsands
Coal
J
ABARE's list of major minerals and energy projects: October 2005
Note: Projects that are under construction or committed are shown in the blue shaded areas. Less advancedprojects are shown in the yellow shaded areas.
Mining projects – energy aExpected New Capital Employ-
Project Company b Location Status c startup capacity d expend. e ment fBlack coalNew South Wales mines
Ashton White 12 km NW New project, late 2005 3 Mt $90m 200 Cunderground Industries/ of Singleton under construction coking and 140 O
Itochu thermal
Austar Yanzhou 6 km SW of Redevelopment, 2006 2.5–3.0 Mt na naunderground Cessnock committed coking
(formerlySouthland)
Mount Owen Xstrata 19 km NE of Expansion, 2007 2 Mt thermal $75m naand Bulga Singleton committedexpansions
Newpac Resource Hunter Valley Expansion 2007 4 Mt coking na nalongwall Pacific and upgrade, (longwall)
expansion Holdings committed
Ravensworth West Xstrata 20 km NW of New project, early 2006 1.0 - 1.5 Mtpa na naopencut Singleton under construction thermal
Sandgate Rail Australian Sandgate, New project mid-2006 Increase local rail $60m 40 CGrade Separation Rail Track between committed capacity from
(rail flyover) Corporation Newcastle and 90mtpa to 155mtpaMaitland
Ulan longwall Xstrata/ 45 km NW of Expansion, late 2005 2 Mt thermal $90m na(replacement for Mitsubishi Mudgee committed
opencut) Development
Wambo Excel Coal 16 km W of Expansion, early 2006 3.3 Mt thermal $36m naopencut Singleton under construction and coking
Wambo rail Excel Coal 16 km W of New project, early 2006 nil $67m naproject (rail Singleton under construction
loop and loadingfacilities)
Wambo Excel Coal 16 km W of Expansion, late 2006 3 Mt thermal $97m 100 Ounderground Singleton committed and coking
Airly Centennial 42 km NW New project, na 1.0 Mt thermal $12m 80–100 CMountain Coal of Lithgow feasibility study 40 O
underground completed
Anvil Hill Centennial 20 km SW of New project, 2008 9 Mt $50m 199 Oopencut Coal Muswell- feasibility study thermal
brook stage. EISunder way
Belmont Whitehaven 26 km N of New project, 2007 1.5 Mt thermal na naopencut Gunnedah development
application submitted
Bickham Winsian 20 km N of New project, 2007 2.5 Mt thermal na naopencut Investments/ Scone EIS and
Bloomfield development Collieries application being
assessed
Boggabri Apollo Resources/ 17 km NE of New project, 2006 4.5 Mt thermal na naopencut and Idemitsu Kosan Boggabri developmentunderground consent
granted
Glendell Xstrata 17 km NW New project, 2007 2 Mt salable $123m 85 Oopencut of Singleton feasibility study coking and
nearing completion thermal
Kooragang Island Port Waratah Newcastle New project, 2008 Capacity increase $170m nacoal terminal Coal Services feasibility study, from 89 Mtpa to
expansion under way 102 Mtpa
Maules Coal and 20 km NE New project, na 6.5 Mt thermal $450m 300 OCreek Allied of Boggabri mining lease
opencut (Rio Tinto) granted. On holdover medium
term
Moolarben White Mining near Mudgee New project, 2007 (opencut) 4 Mt opencut na naopencut and exploration 2009 (under- 3 Mt under-underground licence granted ground) ground
Saddler's Creek Anglo Coal 15 km SW of New project, na 2 Mt thermal $128m 205 Ounderground and Australia Muswell- prefeasibility 2 Mt coking
opencut brook studyunder way
Wilpinjong Excel Coal 40 km NE of New project, late 2006 1.5 Mt thermal $117m naopencut Mudgee feasibility study initially
under way 7 Mt ultimately
Wyong Korea Resources NW of Wyong New project, late 2007 3.5 Mt $300m 350 Ounderground Corp/Sojitz feasibility study thermal
longwall Corp under way
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Black coalQueensland mines
Abbot Point Ports Bowen, Qld Expansion, 2009 25 mtpa $430m 950 C
Coal Terminal Corporation committed 50 O
Stage 3 of Queenslandexpansion
Blackwater coal BHP Billiton Blackwater, W New project, early 2006 Nil (efficiency US$200m 400 Chandling and Mitsubishi of Rockhampton under construction measure) (A$267m)
processing facility Alliance (BMA)
BMA coal BHP Billiton (several Expansion mid-2006 2 Mt coking US$176m naexpansion Mitsubishi locations) (debottlenecking) (A$235m)
project Alliance (BMA) committed(stage 2)
Broadmeadow BHP Billiton 30 km N New project, late 2005 4 Mtpa $102m 90 O
underground Mitsubishi of Moranbah underconstruction cokingAlliance (BMA)
Carborough AMCI near New project, late 2005 1.5–4.0 Mt na naDowns Moranbah committed coking
Clermont Rio Tinto/ 11 km N of New project, mid-2008 12 Mt thermal $440m 565 Copencut Mitsubishi Clermont committed 450 O
Dalrymple Bay Babcock & Dalrymple Bay Expansion, late 2008 Port capacity $850m nacoal terminal Brown committed increase from
expansion Infrastructure 60 Mtpa to 85 Mtpa
Dawson complex Anglo Coal 160 km SW New project, 2007 5.7 Mt thermal US$600m na Oincluding Moura Australia/Mitsui of Rock- committed (A$800m)
and Theodore hamptonSouth
Grasstree Anglo Coal German New project, 2006 3.9 Mt US$106m 200 Ounderground Australia Creek under construction hard coking (A$141m)
longwall area
Hail Creek Rio Tinto/ 80 km WSW of Expansion, 2006 2.5 Mt coking $209m 204 ONippon Steel/ Mackay under construction
Marubeni/Sumisho
Kogan North C S Energy 40 km NW of New project, 2006 2.8 Mt thermal $80m 60 Oopencut Dalby committed
Lake Lindsay Anglo Coal near German New project, late 2006 3.7 Mt coking US$516m naopencut Australia/Mitsui Creek, committed 0.3 Mt thermal (A$688)
central Qld
Moranbah Excel Coal/ 20 km E of New project, early 2006 1.5 Mt coking $95m na(Millenium) Millenium Moranbah under construction initially
opencut 3 Mt ultimately
Newlands Xstrata/ 130 km W of Expansion, early 2006 Nil; replacing $117m nanorthern Itochu Coal Mackay under construction Newlands
underground southernunderground
Red Mountain BHP Billiton 25 km SE of New project, late 2005 nil $86m naJoint Venture Mitsubishi Moranbah under construction
(coal preparation, Alliance (BMA)/handling and Excel Coalrail project)
RG Tanna Central Gladstone Expansion, late 2006 Terminal capacity $232m 250 CCoal Terminal Queensland under construction increase from 80 O
expansion Ports Authority 45 Mtpa to67 Mtpa
Belvedere Aquila Resources/ 160 km W of New project, na 12 Mt na 500 Cunderground AMCI Holdings/ Gladstone feasibility study hard coking 500 O
CVRD underway
Glen Wilga Tarong Energy 152 km SE of New project, by 2010 0.5 Mt thermal $150m naopencut & wash Chinchilla feasibility study
plant under way
Goonyella BHP Billiton 30 km N Expansion, na 4-8 Mt na 400 ORiverside Mitsubishi of Moranbah feasibility study cokingExpansion Alliance (BMA) underway
Grosvenor Anglo Coal 4 km SE of New project, na 5 Mt $500m 250 Ounderground Australia Moranbah feasibility study hard coking
under way
Monto coal Macarthur 120 km S of New project, na 1 Mt thermal $35m namine (stage 1) Coal Gladstone under review,
mining leasegranted
Poitrel BHP Billiton 25 km SE of New project, 2006 3.4 Mt na naopencut Mitsubishi Moranbah prefeasibility study salable coking
Alliance (BMA) under way
Queensland Macarthur Coal 25 km SW of New project, late 2007 2.1 Mt coke $1b 1400 CCoke Rockhampton feasibility study initially; up to 300 O
project under way 3.2 Mt ultimately
Togara Xstrata 45 km SW of New project, na 4.0–5.0 Mt $350m 200 ONorth Blackwater feasibility study
longwall under way
Vermont Bowen Basin 15 km NE of New project, 2006 2.5 Mt $70m naopencut Coal Dysart environmental coking and PCI
impact studyunder way
Wandoan Xstrata 60 km N New project, na 3 Mt initially, $250m 400 Copencut of Miles prefeasibility up to 10 Mt 200 O
stage by 2011
West Rolleston Macarthur 46 km SW of New project, late 2006 3–4 Mt na naopencut Coal Rolleston feasibility study thermal
and EISunder way
Wiggins Island Central near Wiggins New project, late 2009 25 Mtpa $450m 500 CCoal Terminal Queensland Island, EIS under (stage 1) (stage 1) 125 O
Ports Authority Gladstone way 70 Mtpa ultimatelyFor further information contact: Simon Richmond + 61 2 6272 2271
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
PetroleumAltona Clean Fuels Exxon Mobil Altona, Redevelopment, 2006 nil $200m na
venture Vic committed
BassGas project Origin/Australia Yolla field 150 km New project, late 2005 20 PJ pa natural $500m 200 C(Yolla gas/LPG/ Worldwide offshore VIC, under construction gas; 20 O
condensate Exploration/ Bass Strait, 80 ktpa LPG;field) CalEnergy/ Tas 3.3 kbd
Santos/Wandoo condensate
Berwyndale South Queensland near Roma, New project, Phase 1: 2006 11.4 PJ pa $80m 150 Cand Argyle Gas Company Qld under construction Phase 2: 2007 15 O
(coal seam methane)
Caltex Clean Caltex Sydney and Redevelopment, late 2005 nil $400m 600 CFuels project Brisbane under construction
(Kurnell and Lytton refineries)
Camden Gas Sydney Gas Camden, NSW New project, 2005-06 St 2: 10 PJ pa $150m 65 CProject (coal seam Stage 2 St 3: 4.5 PJ pa
methane) under constructionStages 2&3
Casino Santos/AWE/ 30 km offshore New project, early 2006 35 PJ pa $200m nagas Mitsui Otway Basin, under construction natural gas
Vic 90 bbl a daycondensate
Cliff Head Roc Oil/AWE/ Offshore New project, early 2006 10–15 kbd $227m naoil project Wandoo/ Perth Basin, committed
Voyager Energy/ WACIECO
Darwin LNG plant ConocoPhillips/ Point Wickham, New project, early 2006 3.24 Mt LNG $3.3b 1200 C(based on ENI/Inpex/ near Darwin, NT under construction (includes 100 O
Bayu/Undan gas) Santos/Tokyo pipeline)Gas/TEPCO
Enfield Woodside 50 km N of New project, late 2006 100 kbd $1.48b 100 Coil project Energy/Mitsui Exmouth, under construction 80 O
WA
Goodwin A Woodside 150 km NW of New project, late 2006 na na naLow Pressure Dampier, under construction
Train CarnarvonBasin, WA
Karratha Energy Karratha, New project, early 2007 58.4 Kt LNG $150m naLNG plant Developments WA committed
Limited
North West Woodside North West New project, late 2008 4.2 Mt LNG $2b 2000 CShelf project Energy Shelf, WA under construction 70 O
extension(fifth train)
Otway Gas Woodside Otway Basin, New project, mid-2006 60 PJ pa gas $1.1b naproject Energy/Origin/ Vic under construction 950 kbpa
Benaris/ condensateCalEnergy 125 ktpa LPG
Perseus-over-Goodwin Woodside 150 km NW of New project, early 2007 na na naproject Dampier, committed. Major
Carnarvon contractsBasin, WA awarded
Angel gas Woodside/BHP 115 km N of New project, late 2008 310 PJ pa gas na naproduction Billiton/BP/ Dampier, FEED studies 50 kbdplatform Chevron Texaco/ Carnarvon commenced condensate
Shell/Japan Basin, WAAustralia LNG
Blacktip Woodside/ Offshore New project, late 2007 44 PJ pa gas $450m nagas discovery Shell/Agip Bonaparte Basin, feasibility study 1.7 mmbbl pa
WA completed condensate
Central Queensland Enertrade Moranbah to New project, 2008 20-50 PJ pa $200m 300 C
Gas Pipeline Gladstone, QLD EIS commenced 10 O
Gas to liquid SASOL/ Barrow New project, na 30–45 kbd diesel $2b 2500 Cfuels plant Chevron JV Island, feasibility study 7.3 kbd naptha (stage 1) 200 O
WA under way and LPG
Gorgon Chevron Barrow New project, 2010 10 Mt LNG $11b 3000 CLNG Texaco/Shell/ Island, feasibility study 300 TJ/day 600 O
ExxonMobil WA under way natural gas
Hazelwood GTL Energy/ Latrobe New project, 2008 5.5 kbd diesel $500m nabrown coal to International Valley, Vic feasibility study 2.7 kbd naptha diesel project Power under way
Kipper gas project Esso/BHP Billiton/ 42 km offshore New project, 2009 na $250-$300m naWoodside/Santos Gippsland , feasibility study
VIC under way
Liquigaz GTL Resources Burrup New project, 2007 1 Mt $770m 600 Cmethanol Peninsula, feasibility study methanol 85 O
plant WA completed
Monash Energy Australian Latrobe Valley, New project, 2010 60 kbd $5b naproject Power and Vic pre-feasibility liquid fuels
Energy Ltd studyunder way
Pilbara LNG BHP Billiton near Onslow. New project, late 2011 6 Mt LNG $4b 2500 Cplant WA pre-feasibility 150 O
(based on studyScarborough gas) under way
Pluto gas Woodside Browse Basin, New project, 2010-2012 5–7 Mt LNG $5b 1500 Cdiscovery WA feasibility study 150 O
under way
PNG–Qld Exxon Mobil/ PNG to Qld New project, 2009 250 PJ pa $2.1b 1500 Cgas pipeline Oil Search/Nippon feasibility study (Australian 50 O
Oil Exploration completed. component)FEED studies
under way
Stybarrow BHP Billiton/ 55 km NW of New project, 2008 60 kbd oil US$600m naoil and gas Woodside Exmouth, WA feasibility study equivalent (A$800m)
field under way
Sunrise Gas Woodside Timor Sea, New project, na 5.3 Mt LNG $5b 1000 CProject Energy/ 500 km on hold 100 O
ConocoPhillips/ NW ofShell/Osaka Gas Darwin, NT
Tassie Shoal Methanol Timor Sea, New project, Phase 1: 2009 Ph 1: 1.75 Mt Ph 1: US$692m namethanol Australia/ 275 km FEED to Phase 2: 2012 Ph 2: 1.75 Mt (A$923m)
project Air Products NW of commence methanol Ph 2: US$625mand Chemicals Darwin, NT late 2005 (A$833m)
Timor Sea Methanol Timor Sea, New project, 2010 – 2011 3.3 Mt LNG US$750m naLNG Australia 275 km environmental (A$1b)
project NW of applicationDarwin, NT approved
Trans Territory Woodside/ Blacktip gasfield, New project, 2007 44 PJ pa gas $650m 1000 Cpipeline Agip/Alcan Bonaparte Basin feasibility study
(carrying Blacktip to Gove, NT under way gas)
For further information contact: David Bailey + 61 2 6272 2057
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
UraniumHoneymoon Southern 420 km NE New project, na 0.4 kt U3O8 US$25m na C
Cross of feasibility study (A$33m) 40 OResources Adelaide, revised. On hold.
SA
Valhalla Summit 25 km N of New project, na 0.275 kt U3O8 $400m naResources Mt Isa, Qld feasibility initially
study under way 0.41 kt U3O8eventually
For further information contact: William Mollard + 61 2 6272 2096
Mining projects – minerals aExpected New Capital Employ-
Project Company b Location Status c startup capacity d expend. e ment fCopper
Nifty Aditya Birla Pilbara Expansion late 2005 Up to 75 kt Cu $148m 160 Csulphide Group region, underground, in concen- 90 Oresource WA under construction trates
Northern 3500 Xstrata Mt Isa, Qld Expansion, late 2006 21.8 kt Cu US$25m naunderground under construction in concen- (A$33m)
orebody trates (240 kt Cu over
11 years)
Browns Compass near New project, late 2006 10 kt Cu cathode $40m naOxide Resources/ Batchelor, feasibility 1 kt Co cathodeproject Guardian NT study 0.7 kt Ni
Resources completed
Cloncurry Exco Resources near Cloncurry, New project, 2006 11 kt Cu na 70 O
copper project Qld feasibility study in concen-nearing trates
completion
Kanmantoo Hillgrove 55 km SE of New project, 2008 12 kt Cu $30–40m naResources Adelaide, SA feasibility study
about to commence
Lady Annie CopperCo 140 km NNW of New project, late 2006 15-20 kt Cu $35-40m naand Mount Mt Isa, Qld feasibility study cathode
Kelly nearing completion
Maroochy- Aditya Birla 60 km S of New project, na 30 kt Cu na nadore Group Telfer, WA feasibility study cathode
under way
Mount Watson Matrix Metals 110 km NW of New project, na 15 kt Cu $40m naCloncurry, Qld prefeasibility cathode
study (SX-EW)under way
Olympic BHP Roxby Expansion, 2010 316 kt Cu $2–4b naDam Billiton Downs, prefeasibility 7.5 kt U3O8
expansion SA studyunder way
Prominent Hill Oxiana 113 km SE of New project, late 2008 90 kt Cu $530m naCoober Pedy, SA bankable feasibility in concen-
study trates under way 110 000 oz Au
420 000 oz Ag
Roseby copper Universal 60 km NW of New project, late 2007 Up to 50 kt Cu $238m naproject Resources Cloncurry, Qld feasibility study in concen-
nearing completion trates 15- 28 000 oz Au
Sulphur Springs CBH Resources 100 km SE of New project, late 2007 16.2 kt Cu $40–60m nacopper-zinc Pt Hedland, WA open cut 39.8 kt Zn
project feasibility study under way
White Range Matrix Metals 40 km S of New project, na 15 kt Cu $39m 50 OCloncurry, Qld feasibility study cathode
under review
For further information contact: William Mollard + 61 2 6272 2096
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
GoldBallarat East Ballarat Ballarat, New project, late 2005 100 000 oz initially, $65m 180 O
Goldfields Vic under construction 200 000 oz ultimately
Bendigo Bendigo Bendigo, New project, mid-2006 120 000 oz US$285m 70 CMining Vic under construction initially; (A$375m) 500 O
600 000 oz ultimately
Charters Towers Citigold Charters Towers, New project, Progressively 250 000 oz $150m 286 O(incl Warrior and Corporation Qld under construction to 2007Sunburst deposits)
Cowal Barrick Gold near West New project, early 2006 230 000 oz $305m 350 CWyalong, under construction 200 O
NSW
Raleigh Placer Dome/ 25 km WNW of New project, late 2005 na $47m naunderground Tribute Resources/ Kalgoorlie, under development Rand Mining WA construction
Ridgeway Deeps Newcrest 25 km S of Expansion, na 215 000 oz Au na naOrange, NSW under construction 27 kt Cu
Sunrise Dam AngloGold 55 km S of Underground Progress- nil $87m naunderground Ashanti Laverton, development, ively to (replacementdevelopment WA under 2007 production)
construction
Twin Hills BMA Gold 210 km SSE of New project, late 2005 70 000 oz $22m 75 OCharters Towers, under
Qld construction
Wallaby Placer Dome 23 km S of Expansion late 2006 na $35m naunderground extension Laverton, WA underground,
(Granny Smith) feasibility study completed
Aldiss/Randalls Integra Mining 130 km E of New project, na 55 000 oz Au $17m naKalgoorlie, WA revised scoping
study underway
Boddington Newmont/ SE of Pinjarra, Redevelopment, 2008 800 000 oz Au $1.5b 750 CAnglogold WA Feasibility study 30 kt Cu 400 O
Ashanti/Newcrest nearing completion
Bronzewing View Resources 65 km NE of Redevelopment, na 50 000– na naredevelopment Leinster, WA feasibility study 70 000 oz
underway initially
Cadia East Newcrest 21 km SSW of Expansion, na na na naOrange, NSW feasibility study
under way
Frog's Leg Dioro Exploration/ WA New project, 2006 60 000 oz $18m naunderground Mines and feasibility study
Resources Australia under way
Gwalia St Barbara WA Expansion na 120 000– $125m naDeeps Mines underground, 150 000 oz
feasibility studyunder review
Hera Triako Resources near Nymagee, New project, na na na naNSW pre-feasibility
study nearingcompletion
Higginsville Avoca Resources 45 km N of New project, 2006-07 60 000 oz na naNorseman, WA pre-feasibility
study nearingcompletion
Hillgrove Straits Resources 22 km ESE of New project, na 80 000 oz - $20-30m naArmidale, NSW feasibility study 90 000 oz
nearing completion (Au and Sb)
Laverton Crescent Gold near Laverton, Redevelopment, 2006 170 000 oz - $11m naredevelopment WA bankable feasibility 240 000 oz
study nearing over three yearscompletion
Nullagine Gold Wedgetail 10 km S of New project, 2006 80 000 oz $20-25 m naproject Exploration Nullagine, WA feasibility study
nearing completion
Peak Hill Alkane 40 km N of New project, na na na nasulphide Parkes, NSW feasibility study project under review
Phillips River Tectonic 18 km SE of New project, na na na naResources Ravensthorpe, feasibility study
WA nearing completion
Tomingley Alkane 52 km N of New project, 2007 30-50 000 oz $29m 100 C (Wyoming) Parkes, NSW pre-feasibility study 45 Ogold project nearing completion
Tunkillia Helix Gawler Craton, New project, na 70 000 oz na naResources SA feasibility
study stage.On hold
Westonia Westonia Mines Westonia, Reopening, na 90 000 oz $46m naWA feasibility study
under review
For further information contact: William Mollard + 61 2 6272 2096
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Iron oreDampier port Rio Tinto Pilbara, WA Expansion, late 2005 42 Mt US$845m 800 C
expansion under construction (A$1.1b) 195 O
Hamersley Iron Rio Tinto Pilbara, WA Expansion, late 2007 16 Mt US$530m naYandicoogina mines committed (A$707)
expansion project
Koolyanobbing Cleveland-Cliffs 50 km NNE of Expansion, early 2006 3 Mt $75m naexpansion Southern Cross, under construction
WA
Project Magnet OneSteel South Middleback Expansion, 2007 6.5 Mt $325m naRange, 80 km SW committed (incl work on mine,of Whyalla; and slurry pipeline,
Whyalla, SA pellet plant andport storage)
Rail duplication Rio Tinto Pilbara, New project, mid-2006 na US$200m naproject (Tunkawanna WA committed (A$267m)
to Rosella Siding)
Tom Price/Marandoo/ Rio Tinto Pilbara, WA Expansion, 2006 15 Mt US$290m naNammuldi mine committed (A$387m)
expansion
Western Australian BHP Billiton Pilbara, WA Expansion, late 2006 8 Mt US$575m naIron ore under construction (incl port (A$767m)
Rapid Growth and rail)Project 2 (RGP2)
Western Australian BHP Billiton Pilbara, WA Expansion, late 2007 20 Mt US$1.53b nairon ore under construction (A$2.04b)
rapid growthproject 3 (RGP3)
Argyle Resource Mining 124 km S of New project, late 2006 1.5-2 Mt $50m 120 CCorporation Wyndham, feasibility study 80 O
WA nearing completion
Blue Hills Gindalbie 45 km E of New project, 2008 4 Mt $720m 200 C(Mt Karara) Metals Koolanooka, WA pre-feasibility iron ore pellets 175 O
studyunder way
Cape Lambert Rio Tinto/ Pilbara, Expansion, 2006-07 19 Mt $302 70 Cport upgrade Robe River WA feasibility study 450 O
(Stage 2) under way
Cape Preston Mineralogy Fortescue, WA New project, 2007-08 5 Mt iron ore $1.4b 2000 Cmine and feasibility study concentrates 400 O
pellet plant under way 7 Mt pellets
Dampier port Rio Tinto Pilbara, WA Expansion, late 2007 24 Mt US$690 naexpansion subject to approvals (A$920m)
Extension Hill Mt Gibson Iron 330 km SE of New project, early 2007 5 Mt $550m 400 Cmagnetite project Geraldton, feasibility study 210 O
WA nearing completion
Hope Downs Hancock Pilbara, New project, 2007-08 25–30 Mt $1b 1000 CProspecting/ WA feasibility study 300 O
Rio Tinto completed
Jack Hills Murchison 580 km NE of New project, St. 1: early 2006 St. 1: 1.5 Mt St. 1: $26m 30 Cproject Metals Geraldton, WA feasibility study St. 2: 2009 St. 2: 25 Mt St. 2: $400– 90 O
under way 450m(incl rail and
port)
Koolan Island Aztec Resources Koolan Island, New project, late 2006 4 Mt $108m 220 OWA feasibility study
completed
Koolanooka Midwest 55 km N of New project, 2010-12 4.5 Mt $850m 1200 Cpellet project Corporation Mullewa, WA feasibility study iron ore pellets 266 O
under way
Pilbara Fortescue Pilbara, New project, late 2007 na $1.48b 1500 CInfrastructure Metals Group WA feasibility (incl port, rail 300 O
project nearing completion and mine (incl mine)handling facility)
Pilbara Fortescue Chichester New project, late 2007 45 Mt $470m naIron Ore Metals Group Ranges, Pilbara, feasibility project WA study
under way
Southdown Magnetite Grange Resources 90 km NE of New project, 2008 6.5 Mt $640m 200 Ciron ore project Albany, WA feasibility
nearingcompletion
Weld Range Midwest 370 km N of New project, na 15-20 Mt $800m naCorporation Geraldton, WA pre-feasibility (incl mine,
study rail andunder way port)
Western Australian BHP Billiton Pilbara, WA Expansion, 2010 Increase system US$1.65b nairon ore feasibility study capacity to (A$2.2b)
rapid growth under way 152 mtpaproject 4 (RGP4)
For further information contact: Simon Richmond + 61 2 6272 2271
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Lead–zinc–silverMagellan Magellan 30 km W of New project, 2007 Stage 2: 90 kt Pb $25–40m na
lead project Metals Wiluna, committed metal(Stage 2) (Ivernia) WA
McArthur River Xstrata Boroloola, NT New project, 2007 Replacement $66 m naopen cut committed production
conversion
Angas Zinc Terramin 70 km SE of New project, early 2007 36 kt Zn cons $35m naproject Australia Adelaide, SA pre-feasibility 11 kt Pb/Ag cons
studycompleted
Bowden’s Silver 20 km ESE New project, na 4.5 moz Ag $50m 120 Csilver Standard of Mudgee, feasibility study 4.75 kt Pb 80 O
project Australia NSW ongoing 4.5 kt Zn
Broken Hill CBH Resources Broken Hill, New project, na 58 kt Zn $69m naproject NSW pre-feasibility 36 kt Pb
study under way 1 moz Ag
Browns Compass near New project, 2010 >10 kt Cu $400m naSulphide Resources/ Batchelor, scoping >2.5 kt Coproject Guardian NT study 100 kt Pb
Resources under way >1.5 kt Ni
Dugald Zinifex 50 km NE New project, na na $250m naRiver of Mount on hold
Isa, Qld
Flinders zinc Perilya 470 km N of New project, na na na naproject Adelaide, SA feasibility (zinc oxide ore)
study under way
Hellyer Intec/Ivanhoe 90 km S of New project, 2007 24 kt Zn $137–153m nametals Mines Burnie, Tas feasibility 93 t Agproject nearing completion 100 000 oz Au
Jaguar Jabiru Metals 260 km N of New project, late 2006 25 kt Zn $56m nabase metals Kalgoorlie, bankable feasibility 8 kt Cu
WA study under way 800 koz Ag
Lady Lady Loretta 140 km NW New project, na 125 kt Zn $200m naLoretta JV of Mt Isa, feasibility study 50 kt Pb
(Falconbridge Qld completed. 850 000 oz /Buka Minerals) Under review Ag
McArthur River Xstrata Boroloola, NT New project, 2008 na na nadirect leaching feasibility study
project under way
Potosi Perilya Broken Hill, New project, 2007 na na naNSW feasibility study
under way
For further information contact: Ryan Wilson + 61 2 6272 2152
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Mineral sandsDouglas Iluka 40 km SW of New project, mid-2006 98 kt rutile $270m 250 C
Resources Horsham, Vic under construction 135 kt zircon 150 O200 kt ilmenite10 kt leucoxene
Gingko Bemax 120 km N of New project, mid-2006 59 kt rutile $176m 145 C(stage 1 of Resources Mildura, NSW under construction 41 kt zircon 70 OPooncarie 136 kt ilmenite
mineral sands 110 kt leucoxene project)
Goondicum Monto 30 km E of New project, mid-2006 100 kt ilmenite $40m 220 CMinerals Monto, Qld feasibility 100 kt feldspar 55 O
committed 20 kt apatite
Coburn Gunson 250 km N of New project, late 2006 60–120 kt ilmenite $128m 200 CResources Geraldton, feasibility study 30–60 kt zircon 20 O
WA completed 15–30 kt leucoxene
Dongara Ticor Eneabba, WA New project, na 200 kt ilmenite $15–71m nafeasibility study 30 kt rutile
under way 30 kt zircon
Eucla Basin Iluka 200 km NW New project, mid-2008 na na na(Jacinth and Resources of Ceduna, pre-feasibility
Ambrosia deposits) SA study under way
Jangardup BeMaX 54 km S of New project, na 250 kt $40m 100 CSouth Resources Nannup, WA On hold mineral sands 50 O
concentrates
Keysbrook Olympia 20 km ESE of New project, late 2006 22 kt ilmenite $31m naResources Mandurah, WA feasibility study 42 kt leucoxene
completed 15 kt zircon
KWR project Iluka near Ouyen, New project, late 2007 na $150–200m naResources Vic pre-feasibility
studyunder way
Mindarie Australian near Loxton, New project, 2006 10 kt rutile $68m 160 O
Zircon SA revised feasibility 30 kt zirconcompleted 60 kt ilmenite
Ouyen BeMaX 15 km NE of New project, na 150–200 kt of $40m naResources Ouyen, Vic on hold heavy mineral
concentrates
Prungle BeMaX 90 km E of New project, 2010 – 2015 45 kt rutile na na(Karra) Resources Mildura, NSW on hold 30 kt zircon
120 kt ilmenite
Snapper BeMaX 110 km N of New project, 2009-10 59 kt rutile $70m na(stage 2 of Resources Mildura, NSW Feasibility 41 kt zirconPooncarie study 136 kt ilmenite
mineral sands under way 110 kt leucoxene project)
Twelve Mile BeMaX 210 km SE of New project, na 250 kt of $80m naResources Broken Hill, on hold heavy mineral
NSW concentrates
WIM 150 zircon/ Australian 25 km SE of New project, na 140 kt zircon na natitanium project Zircon/Austpac Horsham, Vic pre-feasibility
Resources studyunder way
For further information contact: William Mollard + 61 2 6272 2096
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
NickelBlack Swan LionOre near Kalgoorlie, Expansion, late 2006 6kt Ni $69m na
Disseminated 2 WA committedProject (BSD2)
Flying Fox Western Areas 130 km S of New project, mid-2006 >6 kt Ni $40m na(Stage 1 of Southern Cross, under construction
Forrestania project) WA
Maggie Hays LionOre 130 km W of New project, late 2005 4 kt Ni $50m 167 CNorseman, WA under construction 25 O
Perseverence BHP Leinster, WA Expansion, late 2005 na $200m naunderground Billiton under construction
extension
Ravensthorpe QNI 35 km E of New project, mid-2007 50 kt Ni US$1.34b 1200 C(BHP Billiton) Ravensthorpe, under construction 1.4 kt Co (A$1.79b) 300 O
WA (feed for Yabulurefinery)
Avebury Allegiance near Zeehan, New project, late 2006 5 kt Ni $50m naMining Tas feasibility study in concentrates
completed
Forrestania Western Areas 130 km S of New project, late 2007 4 kt Ni $30m na(Stage 2) Southern Cross, feasibility study
WA nearingcompletion
Gladstone Gladstone Pacific 70 km NW New project, 2009-10 30 kt Ni US$1.2b 700 Cnickel project Nickel of Rock- feasibility study 1.4 kt Co (A$1.6b) 350 O
(stage 1) hampton, nearing completionQld
Honeymoon Well LionOre 37 km SSE of New project, mid 2008 40 kt Ni na naWiluna, WA feasibility study metal
under way
Kalgoorlie Heron Resources/ N of Kalgoorlie, New project, na 50 kt Ni $1.4b 1000 Cnickel project BHP Billiton/Inco WA pre-feasibility 3 kt Co 300 O
studyunder way
Mt Keith BHP S of Wiluna, Expansion, na 22 kt Ni $150m naBilliton WA feasibility study
completed.Development options
being considered
Mt Keith BHP S of Wiluna, Expansion, 2008-09 25 kt Ni $650m naconcentrator and Billiton WA feasibility study
low pressure under wayleach plant
Murrin Murrin Minara 53 km ENE of Expansion, 2007 10 kt Ni $250m naResources Leonora, WA on hold
North Queensland Metallica 250 km NW of New project na 10 kt Ni na nanickel-cobalt project Minerals/BHP Townsville, QLD in concentrates
(Nornico) Billiton
Prospero Jubilee Mines 50 km N New project, 2007-08 15-20 kt Ni na naof Leinster, WA feasibility study
nearing completion
Sherlock Bay Sherlock Bay near Karratha, New project, 2007-08 9kt Ni $34m naNickel Corp WA feasibility study
under way
Yakabindie BHP 65 km N of Expansion, na na na naBilliton Agnew, WA pre-feasibility
studyunder way
For further information contact: Ryan Wilson + 61 2 6272 2152
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Rare earthsMt Weld Lynas Corp Meenaar and New project, late 2006 15 kt rare earth $49m 100 C
Mt Weld, feasibility study oxides (includes 35 OWA completed processing
plantin china)
Pinjarra Geo Specialty Pinjarra, New project, na 100 t of '4N' $75m 150 Cgallium extraction Chemicals WA deferred gallium metal 50 O
plant indefinitely
For further information contact: William Mollard + 61 2 6272 2096
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
TinRentails project Bluestone Tin 136 km S of New project, na 6 kt Sn metal $53m na
Burnie, Tas feasibilitystudy
under way
For further information contact: Frank Drum + 61 2 6272 2090
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Other commoditiesAmmonia plant Burrup Burrup New project, late 2005 760 kt ammonia $630m 1100 C
Fertilisers Peninsula, under construction 60 OWA
Ammonium Nitrate Orica Yarwun, Expansion, late 2006 300 kt ammonium $135m 130 CPlant Queensland under construction nitrate 20 O
Ellendale Kimberley 140 km ESE of Expansion, mid-2006 580 kctpa $48m 100 Oexpansion Diamond Derby, WA committed(pipe 4) Company
Weipa bauxite Rio Tinto Weipa, Expansion na nil $155m namine expansion Qld and upgrade,
(NeWeipa project committedStage 2: power
station, ship loader, tailings dam)
Ammonium nitrate Deepak Burrup New project, na 300 kt ammonium $300m 700 Cplant Fertilisers Peninsula, feasibility study nitrate 150 O
WA under way 270 kt nitric acid150 kt ammonia
Ammonia/urea Agrium Burrup New project, 2008 1.2 Mt urea $900m 1000 Cplant Peninsula, feasibility study 100 kt ammonia 130 O
WA under way
Argyle Rio Tinto 130 km SSW of New project, 2007 na $850m 250 Cunderground Kununurra, WA feasibility study 400 O
study nearing completion(diamonds)
Calcined petroleum Astral Near Gladstone, New project, na 415 kt calcined $340m 350 Ccoke plant Calcining Qld on hold carbon 80 O
Dampier Nitrogen Dampier Burrup New project, na 639 kt urea $900m 1000 Cproject Nitrogen JV Peninsula, feasibility study 840 kt ammonia 130 O
(ammonia/urea/ (Plenty River/ WA nearing 235 kt ammoniumammonium Thiess)/Dyno completion nitrate
nitrate) Nobel
Dimethyl Ether Japan DME Burrup New project, 2008 1.7 Mt DME $1b 1000 CProject Peninsula, feasibility study 150 O
WA under way
Dubbo Alkane Toongi, New project, na 3.0 kt $91m 300 Czirconia Exploration/ 20 km S of feasibility study zirconia 60 Oproject Astron Dubbo, under revision 1.2 kt rare
NSW earths0.6 kt Nb
Electrolytic HiTec Cawse, 55 km New project, 2006 23 kt $136m namanganese Energy NW of Kalgoorlie, feasibility study electrolytic
dioxide project WA completed Mn dioxide(Stage 1)
Ely bauxite Alcan near Weipa, New project, 2010 na na namining Qld feasibility study project under way
Exmouth Solar Straits near Exmouth, New project, 2008 3 Mt $120m nasalt project Salt WA feasibility study initially
under way
Kwinana CSBP Chemicals Kwinana, WA Expansion, late 2007 290 kt ammonium $140m naAmmonium/Nitrate (Wesfarmers) feasibillity nitrate
Plant under way
Liquid helium BOC Darwin, NT New project, 2007 896 t He $35m 15–20 Cplant approval processes 9 O
under way
Panton Platinum 60 km N of New project, na 69–95 000 oz $57–64m naplatinum Australia Halls Creek, WA feasibility study PGM’spalladium completed.
project Development optionsunder review
Pickanjinnie Queensland Pickanjinnie New project, na 360 kt ammonia $800m 500 Cfertiliser Fertiliser Assets near Roma, EIS under way 350 kt urea 150 O
plant Qld 150 kt ammoniumnitrate
130 kt nitric acid
Spinifex Ridge Moly Mines/ Pilbara, WA New project, late 2007 10-11 kt Mo $300-400m namolybdenum Kallenia Mines pre-feasibility study 15 kt Cu
project nearing completion
Swan River Minerals near Tammin, New project, na 250 kt processed na na(Kerrigan) Corporation WA technical kaolin
kaolin project feasibility study completed
For further information contact: William Mollard + 61 2 6272 2096
Minerals processing facilitiesExpected New Capital Employ-
Project Company b Location Status c startup capacity d expend. e ment fAlumina
Alcan Alcan Gove, NT Expansion and 2007 1700 kt US$1.3b 1700 Crefinery plant optimisation, (A$1.86b) 120 O
expansion committed
Pinjarra refinery Alcoa/Alumina Pinjarra, Expansion, early 2006 600 kt $460m 1000 Cefficiency upgrade WA under construction 65 O
Worsley refinery BHP Billiton/ near Bunbury, Expansion, early 2006 250 kt US$192m 100 Cexpansion (Worsley Japan Alumina/ WA under construction (A$256m)
Alumina Development Sojitz AluminaCapital Projects)
Comalco Comalco Yarwun, near Expansion, na 1400 kt na 2100 Calumina refinery Gladstone, under 200 O
expansion Qld consideration(CAR Stage 2)
QAL Queensland Gladstone, Expansion, na 1300 kt na narefinery Alumina Qld pre-feasibility
expansion studycompleted
Wagerup Alcoa/Alumina Darling Expansion, na 2000 kt $1.5b 1000 Crefinery Ranges, WA feasibility study 150 O
expansion and public– Unit 3 consultations
under way
Worsley refinery BHP Billiton/ near Bunbury, Expansion, na 700 kt $900m 500 Cexpansion (Worsley Japan Alumina/ WA feasibility study 150 O
Alumina Development Sojitz Alumina and publicCapital Projects) consultations
under way
For further information contact: Frank Drum + 61 2 6272 2090
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
AluminiumKurri Kurri Hydro Kurri Kurri, Efficiency late 2005 7 kt $80m naaluminium Aluminium NSW improvements,
smelter under construction (Surf project St. 1)
Kurri Kurri Hydro Kurri Kurri, Efficiency 2006 8 kt $50m naaluminium Aluminium NSW improvements,
smelter under construction(Surf project St. 2)
S230 Project Boyne Island Gladstone, QLD Expansion, na 11 kt $56m 45 C
Smelters under construction
Aldoga Aldoga Aldoga, near New project, na 420 kt $2b 2200 CAluminium Gladstone, feasibility study 900 O
Smelter Qld completed. Env'talapproval granted
Boyne Island Comalco Gladstone, Expansion, na 218 kt $700–800m 650 Csmelter Qld deferred 100 O
expansion indefinitely
Kurri Kurri Hydro Kurri Kurri, Expansion, na 200 kt $800m 250 Caluminium Aluminium NSW under review 230 O
smelter (fourth potline)
Tomago smelter Tomago Tomago, NSW Expansion, na 200 kt $1.2b naexpansion Aluminium on hold
(fourth potline)
For further information contact: Frank Drum + 61 2 6272 2090
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
CopperMt Isa smelter Xstrata Mt Isa, Qld Expansion, mid-2006 40 kt $41m na
expansion committed
For further information contact: William Mollard + 61 2 6272 2096
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Crude iron and steelCoating plant Bluescope Sydney, New project, mid-2007 120 kt coated $130m 75 O
Steel NSW under construction steel
Port Kembla Bluescope Port Kembla, Expansion, 2006-07 400 kt $100m 150 Chot strip mill Steel NSW under construction
Cold rolling Protech Newcastle, New project, 2007 520 kt steel $600m 700 Cmill NSW feasibility study 365 O
completed
Specialty Steels Boulder Ipswich, New project, late 2008 230 kt $600m 430 CProject Group Qld feasibility study specialty 365 O
under way steel
For further information contact: Simon Richmond + 61 2 6272 2271
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
MagnesiumLatrobe Latrobe 150 km E of New project, 2011 45 kt $984m 800 O
magnesium Magnesium Melbourne, feasibility study magnesium 450 Cproject Vic under way. metal
Technology evaluationnearing completion
TasMag Indcor Bell Bay, New project, na 90 kt $800m naproject Tas on hold magnesium
metal
Woodsreef Pacific Woodsreef, New project, na 80 kt $681m namagnesium Magnesium NSW on hold magnesium
project Corporation metal/alloy
For further information contact: William Mollard + 61 2 6272 2096
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
NickelYabulu QNI Townsville, Expansion, late 2007 44.5 kt Ni US$460m 400 C
Extension (BHP Billiton) Qld under construction 1.4 kt Co (A$613m) 90 OProject (linked to
Ravensthorpemining project)
Kalgoorlie Nickel BHP Billiton Kalgoorlie, Expansion, 2008-09 na $284m nasmelter furnace WA feasibility study
(No.3 flash furnace) under way
Kwinana Nickel BHP Billiton Kwinana, Expansion, 2006-07 10 kt Ni $57m narefinery expansion WA feasibility study
under way
For further information contact: Ryan Wilson + 61 2 6272 2152
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
Titanium mineralsERMS synthetic Austpac Eastern seaboard New project, late 2007 30 kt synthetic $50m na
rutile plant Resources (exact location feasibility study rutileunder under way 21 kt iron
consideration) pellets
Kemerton Millennium Kemerton, Expansion, na 110 kt TiO2 $470m 500 CTiO2 pigment Inorganic WA on hold pigment 200 O
plant Chemicals(Lyondell)
Kwinana Tiwest JV Kwinana, Three stage na 180 kt TiO2 $200m 108 CTiO2 pigment WA expansion, pigment 98 O
plant stage 1 envt'alapproval granted
For further information contact: William Mollard + 61 2 6272 2096
Expected New Capital Employ-Project Company b Location Status c startup capacity d expend. e ment f
ZincSun Metals plant Sun Metals Townsville, Efficiency 2006 17 kt US$30m na
enhancement Qld improvements, (A$40m)project under construction
For further information contact: Ryan Wilson + 61 2 6272 2152
a Includes projects expected to commence production over the medium term and for which capital expenditure is expected to exceed $40 million (except for gold projects, for which the expenditure threshold is $15 million). b Principal operating companies. c Type of project and stage of development – categories of the former include: 'new project' and 'expansion'; categories of the latter include: 'feasibility study under way', 'feasibility study completed', 'committed' and 'under construction'. d Annual incremental capacity expected in terms of contained metal or product; for example, zinc content in zinc concentrates production or salable coal in coal produced. For oil and condensate kbd ('000 barrels a day) and gas (terajoules a day) and liquid petroleum gas LPG (Mt). e Total capital expenditure as reported by the company in current dollars. Includes cost of development, plant and equipment. f Reported employment. Where possible, project employment has been shown at both the construction phase (shown as 'C' against the employment numbers below) and in the operational phase (shown as 'O').na Not available.