Alarm bells as BHP axes $30 billion expansionBHP has shelved its planned expansion of the giant Olympic Dam mine, as its profit sinks by one-third marking a dramatic change in fortunes.http://au.finance.yahoo.com/news/bhp-profit-down-more-third-054948421.htmlCommodity prices, hence mining booms & busts, are notoriously cyclical. The peak of the mining boom in Australia is now behind us. How far down and for how long before the cycle bottoms is the only question that remains.
