Antinuclear

BHP is firm on mothballing Olympic Dam uranium mine expansion

BHP offers little hope of revisiting Olympic Dam expansion The global miner shelved plans for the multi-billion-dollar expansion in 2012 after a year-long study.  MineWeb 03 Nov 2014 SYDNEY (REUTERS) –  Expansion by BHP Billiton’s giant Olympic Dam mine in Australia, once considered among its prized growth assets, is off the agenda due to low metals prices and productivity inefficiencies, the company said on Friday.

BHP shelved plans for a multi-billion-dollar expansion of the copper, gold and uranium mine in 2012 after a year-long study, citing a need to reign in spending as the Australian mining boom started to fade.

Since then business leaders and politicians, including Australian Prime Minister Tony Abbott, have implored BHP to reconsider its decision, hoping to alleviate job losses caused by the exit of car manufacturing inAustralia.

But BHP has stood firm and on Friday reiterated its mothballing of expansion plans for Olympic Dam. http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=258553&sn=Detail

November 4, 2014 - Posted by Christina Macpherson | business, South Australia, uranium