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BHP Billiton Announces Update on Olympic Dam

December 13, 2012 • Media Release

BHP Billiton last week announced plans to transfer responsibility for its Olympic Dam operation in South Australia to the Base Metals Customer Sector Group.

Picture: Olympic Dam Expansion, http://www.bhpbilliton.com/

The announcement follows the decisions in August to investigate an alternative, less capital-intensive design of the Olympic Dam open-pit expansion and to sell the Yeelirrie uranium asset in Western Australia to Cameco Corporation.

BHP revealed the incorporation into Base Metals will consolidate the management of the next phase of studies for the open pit expansion, align with the Company’s cost control strategy in the current economic environment and position Olympic Dam to support BHP Billiton’s long term copper strategy.

Darryl Cuzzubbo is set to continue as Asset President Olympic Dam, reporting to Peter Beaven, President Base Metals, for all operational matters. Additionally, Darryl will assume a further role of President South Australia reporting directly to Chief Executive Non Ferrous, Andrew Mackenzie, for matters relating to the South Australian Government. He will also have responsibility for BHP Billiton’s ongoing participation in the uranium industry globally.

The transition is expected to be completed by 31 March 2013.

Premier Jay Weatherill last month announced that the South Australian Government had granted an extension to the indenture for BHP Billiton to expand Olympic Dam.  Mr Weatherill revealed BHP Billition had committed to spending more than $650 million over the next four years at Olympic Dam and on other initiatives within South Australia.

 

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