BHP Billiton Stops Purchase Of Olympic Dam Exploration Rights

IBTimes reported BHP Billiton (NYSE:BHP,ASX:BHP) will not purchase exploration rights around the Olympic Dam copper and uranium mine.

As quoted in the market news:

Junior explorer Tasman Resources Ltd. on Monday told shareholders the global mining giant has extended a notice stating it is withdrawing from the two conditional contracts that would have paved the way to acquire six exploration tenements in the Stuart Shelf region of South Australia.

First announced in June 2012, the five exploration licences and one licence application for the Stuart Shelf region, which hosts the Olympic Dam deposit, cost $3 million. It involves 1,176 square kilometres west, north and northeast of the Olympic Dam copper and uranium mine project.

Click here to read the full IBTimes report.