olympic dam officially on hold

Kloppers has made it official


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Courtesy of the ABC

Long wait looms for Olympic Dam expansion decision

Posted May 30, 2012 12:30:53




The time frame appears to have pushed out to the last possible moment for a board decision on any expansion of the big Olympic Dam mine.

BHP Billiton is not expected to approve any new major projects before the end of the year, which would include the copper, gold and uranium operation near Roxby Downs in outback South Australia.

A spokesman for the company in Adelaide confirmed chief executive Marius Kloppers had told Chinese media not to expect any approval of major projects in the next six months.

Only recently, the company's chairman had voiced concerns about future growth prospects.

The deal signed last year with the SA Government gives BHP Billiton a deadline of the end of 2012 to make its final decision on whether to go ahead with the proposed conversion of the underground Olympic Dam mine into a huge open cut operation.
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Swiss