Australian news, and some related international items

Costs and low uranium prices put Olympic Dam expansion at risk

BHP’s Olympic Dam expansion under pressure, Business Spectator 12 Jul 2010 BHP Billiton Ltd’s $US20 billion Olympic Dam expansion in Australia may be delayed by a protracted environmental assessment and cost, the Australian Financial Review reports. The recent softening prices for Olympic Dam’s key minerals, especially uranium, and a significant increase in the required capital is also understood to be weighing on BHP, the paper said.

BHP briefed the South Australian government opposition on the project two weeks ago and an opposition mining spokesman Mitch Williams said he believed the miner was still committed but the timing was the key question.

A BHP spokeswoman could not be immediately reached for comment.

BHP’s Olympic Dam expansion under pressure | News | Business Spectator

July 12, 2010 - Posted by | Olympic Dam, South Australia, uranium | , , , , , , ,

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