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BHP and BlackRock Partner in $2 Billion Iron Ore Deal

12/9/2025

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Summary

Story summary

BHP Group Ltd. has partnered with BlackRock’s Global Infrastructure Partners (GIP) in a $2 billion deal to enhance its Western Australia Iron Ore power network.
BHP will retain a 51% controlling stake, with GIP owning 49%.
This arrangement enables BHP to pay a fixed tariff for 25 years and to boost annual iron ore production to 305 million tonnes.
Regulatory approval is pending.

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Story summary

BHP Group Ltd. has partnered with BlackRock’s Global Infrastructure Partners (GIP) in a $2 billion deal to enhance its Western Australia Iron Ore power network.
BHP will retain a 51% controlling stake, with GIP owning 49%.
This arrangement enables BHP to pay a fixed tariff for 25 years and to boost annual iron ore production to 305 million tonnes.
Regulatory approval is pending.