BHP May Lose Right to Copper Uranium Project

Bloomberg reported BHP Billiton (NYSE:BHP) will lose the right to mine at the Olympic Dam copper-uranium project in Australia if it doesn’t begin work by the end of the year.

As quoted in the market news:

BHP said this month it won’t meet a spending target of $80 billion for building mines and expanding assets over the five years through 2015. The Melbourne-based company may seek to delay approving the expansion at Olympic Dam and two other major projects until the second half of next year, according to a May 23 report by Deutsche Bank AG.

Click here to read the full Bloomberg report.