BHP Billiton delays project expansions due to tough market - UPDATE

Mining titan BHP Billiton has said that it will not approve any major projects in the current financial year, as it revealed that the 30bn-dollar expansion of a uranium and copper mine in South Australia has been delayed in order to 'improve the economics of the project'.

Mining titan BHP Billiton has said that it will not approve any major projects in the current financial year, as it revealed that the 30bn-dollar expansion of a uranium and copper mine in South Australia has been delayed in order to 'improve the economics of the project'.

The company blamed current market conditions, including lower commodity prices and rising capital costs, for the revision of the Olympic Dam open-pit expansion.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.