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Oil Report

BHP allocates $267 million to new coal mine project

SYDNEY, Jan 18 (Reuters) - BHP Billiton Ltd/Plc BHP.AX said on Monday that it has approved $267 million in development funds for a new coal mine and to improve shipping operations in Australia.

The funding will be used to accelerate development of the company’s Caval Ridge and Hay Point Coal Terminal Stage 3 projects in partnership with Mitsubishi Development Corp, it said in a statement.

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