BHP Billiton Still Not Interested in Expanding Olympic Dam

Reuters reported that the expansion of BHP Billiton Ltd.’s (ASX:BHP,NYSE:BHP,LSE:BLT) huge Olympic Dam copper-gold-uranium mine is still off the table due to “low metals prices and production inefficiencies.”

As quoted in the market news:

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 in Australia.

But BHP has stood firm and on Friday reiterated its mothballing of expansion plans for Olympic Dam.

Click here to read the full Reuters report.