Business
BHP shelves $3.5b expansion plan for Olympic Dam – Sydney Morning Herald
The Olympic Dam just recorded its best performance in five years but BHP has shelved long-held expansion plans, citing the “economic challenges” of the project.
The Olympic Dam expansion project, which BHP said would cost up to $US2.5 billion ($3.5 billion), was proposed in 2017 and was hoped to significantly increase copper production. BHP had initially anticipated reaching an investment decision on the project this year.
In June, Prime Minister Scott Morrison picked the project as one of 15 across the country to be fast-tracked under an agreement by the Commonwealth and state governments to accelerate the approval process and help support 66,000 dire…
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