Australian news, and some related international items

BHP’s Marius Kloppers not very convincing about expansion of Olympic Dam uranium mine

BHP’s Kloppers defends Dam,   by: Christopher Russell, John Dagge,  Herald SunSeptember 04, 2012  BHP Billiton chief Marius Kloppers has declared the group will “work with undiminished vigour” to extend Olympic Dam despite spiking its colossal expansion plan….

He was speaking after analysts at the Commonwealth Bank cut their rating on BHP and Fortescue Metal shares, citing the tumbling price of iron ore…

.. Mr Kloppers was talking after returning from the world tour that followed the release last month of BHP’s annual results. He said BHP remained hopeful that by going back to the drawing board it would find a viable option to extend the Olympic Dam project, in central South Australia. These included extracting minerals by leaching – a process used at BHP Billiton mines in Chile.

Mr Kloppers said while he could not guarantee the mine expansion would proceed, the company would work “unbelievably hard” to develop a viable extension plan. “One of the things that has been difficult, is that people take everything we work on as being approved,” he said. Then when we are unable to make it work they feel we’ve unapproved it. That’s the world we live in.”Mining companies had to constantly reassess their options as circumstances changed, he said…..

September 4, 2012 - Posted by | General News

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