BHP Billiton

South Australian Parliament Ratifies Roxby Downs (Indenture Ratification) (Amendment Of Indenture) Amendment Bill

Press Release   •   Nov 29, 2011 10:33 GMT

BHP Billiton today welcomed the passage of the Roxby Downs (Indenture Ratification) (Amendment of Indenture) Amendment Bill through the South Australian Parliament.

BHP Billiton Uranium President, Dean Dalla Valle, said: “This is a major milestone in the progression of our Olympic Dam Project.

“The passage of this Bill provides the Company with greater certainty for what would be a significant investment and demonstrates South Australia’s support for the project.

“It also allows us to activate pre-commitment funding, previously approved by the Board, for the purchase of long lead items such as trucks, infrastructure development and early site works for the first phase of the expansion project.

“We need to complete further studies on the project before seeking Board approval next year for the first stage of our expansion.

“If approved, the Olympic Dam Project will be an economic driver for South Australia over the next 40 years.

“I would like to express my thanks to both the Premier and the Leader of the Opposition for their bi-partisan support for this Bill and all members of the South Australian Parliament for their contribution to the debate. I would also like to thank the people and teams who have worked very hard over several years to achieve approvals and the outcome today.”

The Olympic Dam Project will create one of the world’s largest open pit mines with the potential to increase copper production from around 180,000 tonnes per annum to 750,000 tonnes per annum and beyond.

BHP Billiton received environmental approvals for the Olympic Dam Project from the Government of South Australia and the Commonwealth in October this year, following assessment of its draft and supplementary Environmental Impact Statements.