Mining and metals firm Billiton Plc said on Thursday that an $860 million expansion of the Mozal aluminium smelter in Mozambique would go ahead, thanks to a better industry outlook and positive local investment climate, Reuters reported. Billiton, in the process of merging with Australian BHP Ltd, said in a statement that its share of the cost of Mozal 2 would be $405 million. “The continuing positive investment climate in Mozambique, coupled with a structural improvement in the supply outlook of the aluminium industry, have now given Billiton and its partners the confidence to launch Mozal 2,” Billiton chairman and chief executive Brian Gilbertson was quoted as saying.
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