No change in the spot price yesterday with it still at $136.50. In news, low and behold, BHP is investing some money in the last commodity standing:
BHP Billiton is a step closer to its long term goal in the Pilbara, after announcing $US301 million worth of new spending today.
The global miner will spend the money on two new ship-loaders at Port Hedland, which will help increase the export capacity of its iron ore division.
Ship-loaders are effectively large spouts that pour iron ore directly into the hull of giant ships, and the two new ones will replace a couple of 40 year old ship-loaders.
The new models can each move an extra 2,500 tonnes of ore per hour
The spending is part of the gradual upgrade and improvement BHP is conducting in the Pilbara, with the goal of gradually growing the export business toward 270 million tonnes per year.
