The Australian Financial Review has reported that mining giant BHP Billiton’s Ltd
(ASX:BHP) plans for the Olympic Dam mine expansion are in doubt.
The viability of BHP’s project has been questioned in light of the US$20 billion cost of the expansion and a protracted environmental assessment process.
According to the AFR, BHP’s CEO Marius Kloppers is understood to be wary of committing to the project and expansion plans have still not been outlined, despite the company receiving ownership of the mine five years ago.
The Olympic Dam mine in South Australia is the world’s largest uranium source. BHP Billiton reported a profit of $7.24 billion for the year ending 30 June 2009.
