BHP Billiton putting Olympic Dam expansion on the back burner
Australia’s Copper and Mining Hopes Expected to be Staggered, Resource Investing News, By Shihoko Goto, 11 May 12 “…..Earlier this month, both Rio Tinto and BHP Billiton suggested that they are reconsidering investment plans in an effort to lower risks amid rising costs and uncertain demand. Greater pressure from governments, particularly in developing countries, to tax mining companies as resource nationalism rises worldwide is also a concern……..
BHP’s head of aluminum, nickel, and corporate development, Alberto Calderon, said that the company will be staggering its expenditure in order to match its cash flows – which could slow down the development of mega-projects, including its Olympic Dam copper-uranium project – so as to maximize value, reduce risk, and balance short- as well as longer-term returns.
The Olympic Dam project has been slated to be taken to the board for approval this year, but BHP has stated that is will “live within its means.” Still, it is unlikely that the Olympic Dam project will remain a priority for BHP Billiton…. : http://resourceinvestingnews.com/36093-australias-copper-and-mining-hopes-expected-to-be-staggered.html#ixzz1ubSgvacP
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