Antinuclear

BHP investors disillusioned with Olympic Dam uranium mine expansion plans

Sell stake in mine, BHP urged Olga Galacho , Herald Sun  June 09, 2012, BHP Billiton should cheer up its shareholders by undertaking a radical sale of 20 per cent of its copper-uranium Olympic Dam mine to a venture partner, broking
house Deutsche Bank suggested yesterday. Analyst Paul Young estimated such a deal could fetch about $6 billion, which the miner could use to fund the first part of its expansion plan for the South Australian mine and boost returns to shareholders.

But his counterpart at UBS, Glyn Lawcock slammed the idea, saying shareholders would be highly disappointed if BHP sold part of a tier-one asset….. BHP chief executive Marius Kloppers this week continued to stoke speculation that the miner might put the giant mine expansion on ice indefinitely..… Deutsche Bank believes investors are reflecting their disillusionment with the value of these long-term projects in the share market.

June 9, 2012 - Posted by Christina Macpherson | business, South Australia, uranium | South Australia