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BHP Billiton Announces Mega Olympic Mine Project Shelved

Global miner BHP Billiton Ltd. has made public that its investment decision to proceed on the proposed A$30 billion (US$31.3 billion) mega expansion of the Olympic copper, gold and uranium mine project in South Australia will be delayed and discussed until 2014, affecting the thousand of potential jobs the project development has to offer.

"The expansion decision has been put on hold for two years," a report by the Weekend Australian said, citing documents it had obtained from an unidentified consulting firm. These documents, however, were within the knowledge of BHP Billiton Ltd. insiders.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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