Decision on BHP Billiton’s Olympic Dam Mine Faces Delay

Reuters reported that BHP Billiton could delay its decision on whether to go ahead with the $30 billion expansion of its Olympic Dam copper-uranium mine, located in South Australia.

As quoted in the market news:

A decision by the world’s biggest miner on whether to proceed with the proposed expansion of its copper and uranium mine will not be made until 2014 rather than by the end of this year, as previously stated by the company, the Australian reported on Saturday, citing documents it had obtained.

The document said BHP’s uranium division confirmed the deferral and said a recruitment freeze was now in place on the Olympic Dam expansion, the single biggest investment project.

“The expansion decision has been put on hold for two years,” a consultant’s document prepared for BHP said.

Click here to read the full Reuters report.