BHP and Rio Tinto Investing in $3.43 Billion Chile Water Project

BHP Billiton Ltd. (BHP) and Rio Tinto Group, the two largest mining companies, are investing in a $3.43 billion desalination facility that will supply water to Chile’s Escondida copper mine.

BHP, which owns 57.5 percent of the mine, is investing $1.97 billion, and Rio Tinto, which owns 30 percent, will contribute $1.03 billion. Work that includes two pipelines, four high-pressure pumps and a reservoir at the mine site is scheduled to begin this month and will be finished in 2017, according to a statement today from BHP.

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