BHP Billiton Puts the Brakes on Olympic Dam Expansion

PERTH, AUSTRALIA--August 23, 2011--Researched by Industrial Info Resources (Perth, Australia)--After months of speculation, BHP Billiton Limited (NYSE:BHP) has finally confirmed that it will not be making a final investment decision for the $21.2 billion (AUD $20 billion) Olympic Dam before December 15, 2012, as required under its agreement with the South Australian government. BHP Billiton will now be going back to the drawing board and reviewing the project with the view of reducing the total investment required and improving the project's economics.