Australian news, and some related international items

Poor economic prospects for uranium mining, but Tony Abbott pledges his troth to it again

BHP Olympic Dam expansion vital to SA: Abbott Business Spectator,  20 Aug 2012 The
proposed Olympic Dam mine expansion is vital to the economic future of South Australia, but the only way to make it happen is to abolish mining taxes, federal Opposition Leader Tony Abbott has told a state Liberal conference…

.. BHP Billiton has until the end of the year to give the $30 billion expansion the final go-ahead or face the need to renegotiate approvals with the state government.

There is growing concern that global economic conditions will force the company to put its plans on hold, but South Australian Premier Jay Weatherill says he cannot see any justification for granting the mining giants an extension to their agreement.

Mr Abbott said the mine expansion was being threatened by the federal government’s new mining taxes.

“The very best we can say of the Olympic Dam expansion is it is on a knife edge,” he said…


August 20, 2012 - Posted by | AUSTRALIA - NATIONAL, politics

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