Media is reporting that the BHP is about to dump the 20bn Olympic Dam project.
South Australian Premier Jay Weatherill has called a press conference for this afternoon.
So, is Australia too expensive now even for new mining projects???
I think it’s BHP’s weak free cash-flow. Well so i am told.
when commodity prices fall then people start to look at costs. under the previous rosy scenario they could just mine and count the money.
Now they cannot.
They have to look at better methods
Some truth in that. Although in many other respects resource depletion requires such attention.
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