BHP approves $367 mln to expand Australian coal port

Global miner BHP Billiton has approved plans to invest $367 million to expand the Newcastle coal port in Australia, the company said on Wednesday, Reuters reports. The port expansion will increase capacity at the terminal by 25 percent to 66 million tonnes a year, with the terminal due to start operating in 2014. BHP Billiton has a 35.5 percent stake in the port.