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Post by : Badri Ariffin
BHP Group is making significant strides in enhancing its inland power infrastructure in Western Australia. On Tuesday, the mining leader revealed that BlackRock's Global Infrastructure Fund (GIP) will inject $2 billion into this initiative, acquiring a minority share in the newly formed entity.
As part of this agreement, BHP will hold a 51% stake, while GIP will own 49%. Over the next 25 years, BHP will remit a tariff linked to its portion of WAIO’s inland power, guaranteeing consistent funding for the project. Importantly, BHP will retain complete control over WAIO’s operations and associated power infrastructure.
This investment is intended to bolster WAIO's expanding operations and energy requirements, enabling BHP to access private funding without losing its authoritative grip. Analysts note that such partnerships are becoming increasingly popular among miners seeking to modernize their infrastructure while mitigating financial exposure.
The new partnership will not disrupt BHP's current joint ventures, ensuring steady operations across the broader area. By melding GIP's financial strength with BHP's operational capabilities, this collaboration may set the stage for further infrastructure ventures in Australia’s mining landscape.
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