BHP on track with Olympic Dam project

Company News

BHP Billiton (ASX:BHP) says it remains on track to give the go-ahead late next year to the $30 billion-plus Olympic Dam copper, uranium and gold expansion project in South Australia after lodging the project’s final environment report.

The report is now subject to an adequacy test by the federal, South Australian and Northern Territory governments before being given final approvals.

Olympic Dam is the world’s biggest uranium deposit and the fourth-biggest copper resource.

BHP intends to realise the full potential of the deposits, saying it could amount to the company’s biggest single investment in Australia.

For the year ended 30 June 2010, BHP reported a net profit of $15.26 billion.