BHP Billion, a mining giant in Australia said on Wednesday that it has approved the investment of US$367 million for the third phase of the development of Newcastle Coal Infrastructure Group (NCIG)’s coal handling facility, wholly owned by Hunter Valley Energy Coal, the subsidiary of BHP Billiton.

The company expected that its total capacity at the coal terminal would increase to 66 million tons from 53 million tons through the port expansion.

It’s known that the company planned to ship the first batch of the coal from the new ship terminal in the fiscal year 2014.

Furthermore, the terminal was expected to run full capacity within the next 12 months.