Antinuclear

BHP prolongs the indecision on Olympic Dam uranium mine

BHP Billiton’s request for an indenture extension keeps the Olympic Dam project alive, says Greg Kelton. Adelaide Now 27 Sept 12 GET ready for another four years of “will they or won’t they”. South Australians will  have to play the pol-itical guessing game of what will happen to the much-vaunted Olympic Dam mine expansion, albeit on a much smaller scale.

The state has already gone through one major economic disappointment with BHP Billiton shelving the planned $30 billion expansion last month, claiming it was due to world economic conditions.

The proposed expansion had been sold to the public by Government, economic commentators and many in the mining industry as the state’s economic saviour, the  major project which would put SA up with the mining giant states of WA and Queensland.

BHP Billiton’s decision to ask for an extension of the indenture which was due to expire at the end of this year, keeps the project, in some form at least, alive….. Both parties now realise the project cannot be seen as the be-all and end-all for the state’s economy. Both have stated the need for more diversification of the state’s economic base. However, whatever they think, both parties will be keen for some form of Olympic Dam expansion to proceed. Their political futures might well depend on it. http://www.adelaidenow.com.au/news/opinion/bhp-billiton-guessing-game-set-to-continue-in-south-australia/story-e6frealc-1226482133887

September 27, 2012 - Posted by Christina Macpherson | business, South Australia, uranium