BHP's $2B Deal with BlackRock for Iron Ore Power Network
Update: 2025-12-09
Description
BHP, the global mining giant, has secured a $2 billion deal with Global Infrastructure Partners, a BlackRock subsidiary, to strengthen its Western Australia iron ore power network. This agreement forms a new trust entity, with BHP retaining 51% control and Global Infrastructure Partners acquiring 49% through capital injection. BHP will pay a tariff linked to power usage over 25 years, freeing up capital without losing operational control. This deal aligns with BHPs plan to increase iron ore output to 305 million tonnes annually and provides financial flexibility amidst market volatility and decarbonization costs. Global Infrastructure Partners expands its Australian energy infrastructure presence, adding to its $189 billion global portfolio. The deal is set to close by the end of fiscal year 2026, pending regulatory approvals.
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