re: Ann: QMC appoints White Range Resource De...
The writing was on the wall when Xstrata didn't pull $5m out the petty cash drawer to buy White Range of the Matrix administrator White range is a shareholder mine and their pockets are nearing end of mine life - rehabilitation of hearts and minds followed by therapy and anger management classes are what lies ahead for holders .!
Downsize plan casts doubt on Olympic Dam
Federal and State politicians have downplayed doubts over the future of the Olympic Dam mine expansion after BHP Billiton announced plans to downsize its capital works program.
Earthmoving equipment is already arriving at Outer Harbor ahead of work that will see Olympic Dam become the world's biggest open cut mine at a cost of about $5 billion.
But the mining giant's chairman, Jac Nasser, has told a meeting in Sydney that changes in the global economy will force the company to cut back its plan to spend $80 billion on new projects, including Olympic Dam.
"We said we'd make a decision by the end of this year, end of this calendar year, and we're on track to do that," he said.
Treasurer Wayne Swan says Mr Nasser's comments do not cast doubt on the Olympic Dam expansion.
"It's got a huge commitment here in South Australia through what it's already put into the Olympic Dam project," he said.
"Of course they will assess their commercial opportunities and they will do that in the context of what is happening globally as well as nationally but I certainly will be doing everything I possibly can to encourage them to invest right across the country.
"We will do everything we possibly can to ensure that when they take their decision here in South Australia it's a positive one.
"I know the South Australian Government shares that objective as well but these are entirely a matter for the BHP board." South Australian Premier Jay Weatherill is also confident the project will be approved by the December 15 deadline.
"The project's a good project.
It's ready for approval.
But the board's got a big decision to make and they've obviously got a range of other projects that they're considering," he said.
Opposition leader Isobel Redmond believes the project will go ahead but says the Government should be prepared for delays.
