Antinuclear

Australian news, and some related international items

BHP hastens to calm investor fears on uranium’s future

it was more likely BHP made the unusual announcement to calm fears of the Rann Labor government that international concerns about nuclear power caused by Fukushima could threaten Olympic Dam’s expansion.

BHP assurance on mine, Sydney Morning Herald, Barry FitzGeraldMarch 31, 2011 BHP Billiton has moved to dispel suggestions that the development timetable for its planned $30 billion expansion of the Olympic Dam copper/uranium/gold mine in South Australia is set to slip because of uncertainty about uranium demand.

The uncertainty has been caused by Japan’s out of control Fukushima nuclear power plant, which was critically damaged by an earthquake and tsunami.

BHP’s response unusually was to announce yesterday that the project had moved to the feasibility study stage.

Also unusual was that BHP’s announcement was made before the public release of the project’s supplementary environmental impact statement and the start of the formal assessment of the project by the federal and SA/Northern Territory governments…..

Some analysts suggested that because of the continuing crisis at Fukushima, BHP would be keen to see no delay to its development timetable. Government clearance is the key approval required before a likely final investment decision early next year.

Others suggested it was more likely BHP made the unusual announcement to calm fears of the Rann Labor government that international concerns about nuclear power caused by Fukushima could threaten Olympic Dam’s expansion.

BHP assurance on mine

 

March 31, 2011 - Posted by | politics, South Australia, uranium |

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: