BHP, Rio To Sink $3B Into Chilean Water Desalination Plant

Law360, New York (July 25, 2013, 4:50 PM EDT) -- Australia-based BHP Billiton Ltd. and other owners of one of Chile's largest copper mines on Thursday greenlighted an investment of nearly $3 billion for a new seawater desalination plant, a project that will cut down on reliance on local resources as water use increases at the mine's construction site.

The company said it has approved $1.97 billion for the facility to support continued work at the Escondida mine, joining an announcement by co-owner Rio Tinto PLC that it would provide approximately $1 billion to the project....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.