World’s biggest uranium hole, BHP’s Olympic Dam. in doubt
“we are hearing from engineering circles that BHP has gone cold on the project. And it’s my gut feeling that the enthusiasm isn’t quite there any more.” – shadow mining minister Mitch Williams
Hole lot of trouble for BHP – The Independent Weekly, KEVIN NAUGHTON, 17 Jul, 2010 BHP Billiton’s Clark Shaft at Olympic Dam is set to return to full production, ending a nine-month lull in copper and uranium output.
But the news comes as speculation again surfaces about the company’s long-term plans for the mine…….
The Australian Financial Review reported on Monday that BHP Billiton’s plans for an open-cut expansion were in doubt.
According to the AFR, BHP CEO Marius Kloppers was “wary of committing to the project” and expansion plans have still not been outlined, despite the company receiving ownership of the mine five years ago…………..
In the five years since BHP-B bought out Western Mining Corporation, the mine’s expansion has been one of the state’s hottest political potatoes.
Within hours of the June 2005 ownership change, Premier Mike Rann was spruiking a mining boom that never happened……….
History shows the 2006 boom didn’t eventuate.
Fast-forward to 2008 and it seemed the Government had not learnt the lesson that mining is a complex business and nothing is ever certain….
Five years on from the early boom-town talk and the highly-spruiked expansion seems as far away as ever.
BHP briefed the State Opposition on the project two weeks ago, and shadow mining minister Mitch Williams said later he believed it to be at least two years from serious consideration. .. “we are hearing from engineering circles that BHP has gone cold on the project. And it’s my gut feeling that the enthusiasm isn’t quite there any more.”…….
The most common theory is that the rising cost of the project (from an original $A5 billion to the latest confirmed figure of $22 billion) suggests an expansion of the underground mine, rather than open-cut, is a more profitable short-term option.
As we ponder the fifth anniversary of the Premier’s premature announcement of a 2006 start date for the expansion, investors and analysts might be best served by sticking to the official – and rare – statements that come from BHP.
The earliest this project can go before the board for consideration is mid- 2011. And that will be the sixth anniversary of the boomsayers who are now looking like they had got a little bit too excited.
Hole lot of trouble for BHP – Local News – News – General – The Independent Weekly
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1.This month.
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The Road to War shows the implicit connection between Carbon emissions (the US military uses a whopping 70% of America’s annual petroleum to move its armies and vast War Machine around the globe to its 800+ military bases..but under a loophole wangled at Kyoto, the US military does not have to report its C02 annual emissions). The Road to War starts screening at selected cities and regional centres in March. See the trailer end for details.
Antinuclear 
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