High Costs, Low Prices Stunt Growth Of BHP's Metal Mine

Law360, New York (August 22, 2012, 5:31 PM EDT) -- BHP Billiton Ltd. has shelved a $30 billion expansion of its Olympic Dam copper-gold-uranium mine in southern Australia, the company said Wednesday, the latest sign that escalating capital costs and low commodity prices are taking their toll on even the biggest miners.

The project, which had been slated for a final investment decision later this year, would have created the world's largest uranium mine and more than tripled copper output at Olympic Dam, which began production in 1988.

But copper prices have dropped by about one-fourth...
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