BHP Requests Extension for Approval of Olympic Dam Expansion

Reuters reported that BHP has requested that the South Australian sate government grant it an extension of four years to decide on the expansion of its Olympic Dam copper-uranium mine.

As quoted in the market news:

“Very careful consideration will now be given to the company’s request and the reasons given for seeking an extension,” Tom Koutsantonis, South Australian minister for mineral resources and energy, said in a statement.

BHP’s decision last month was a blow to the state, which had been counting on the massive expansion to jumpstart the economy, and state leaders said they would play hardball in setting conditions for BHP if it did seek an extension.

Click here to read the full Reuters report.