The mining company announces that its project to turn the Olympic Dam, the most valuable mineral deposit discovered in Australia, into the biggest ever open-pit mine has been delayed because of an increase in construction expenses. In addition, copper and uranium prices fell along with a strong domestic currency. As a possible solution, BHP is looking into a less expensive design for the mine that is poised to make thousands of employment opportunities.

2. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
BHP Billiton’s project rollbacks worth USD50
billion, a significant difference from its formerly
active expansion tactic, is now being seen as the
latest sign that the worldwide mining boom has
come to its end.

3. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
The mining company announce that its project to turn the
Olympic Dam, the most valuable mineral deposit discovered
in Australia, into the biggest ever open-pit mine has been
delayed because of an increase in construction expenses. In
addition, copper and uranium prices fell along with a strong
domestic currency.

4. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
As a possible solution, BHP is looking into a less
expensive design for the mine that is poised to make
thousands of employment opportunities. Their Olympic
Dam, home to one of the biggest copper deposits and
the greatest uranium source, is seen as the flagship
project of BHP.

5. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
This expansion project concerning the Olympic Dam
will probably be the first in a string of changes. A
USD10 billion potash mine in Canada and an USD19
billion iron ore port in Port Hedland are both
reportedly getting scrapped.

6. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
According to Marius Kloppers, BHP chief executive, in
such a frail market, the company has to look for a way to
maximize the use of the Olympic Dam without spending
too much of its capital. Possible alterations in design are
focused on open-pit expansion where it seems that the
project was postponed for a later date but not totally
cancelled.

7. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
BHP is going to continue 20 projects where it has already
spent USD 22.8 billion though it will not approve new
ones until the last quarter of 2013. It has postponed the
planned facilities in Australia, Canada and Queensland for
scam prevention.

8. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
“Disciplined investment throughout the economic cycle
has established momentum in our business,” Kloppers
said, adding that they are planning to drastically reduce
expenses next year and will close unprofitable
operations.

9. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
Twenty years ago, they are reportedly mulling
about selling the petroleum division.

10. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
For more details…
http://promotion.blackhawk-
mining.com/2012/09/04/mining-boom-in-its-last-stages/

11. Black Hawk Mines
MINING BOOM IN ITS LAST STAGES?
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