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BHP shelves $3 bln Australian coal mine plans - report
September 20, 2012 / 12:20 AM / 5 years ago

BHP shelves $3 bln Australian coal mine plans - report

SYDNEY, Sept 20 (Reuters) - BHP Billiton has shelved plans to build a $3 billion coking coal mine in Queensland as part of the spending cuts announced by the world’s largest miner last month, the Australian newspaper reported on Thursday.

Studies had ceased on the Red Hill underground coking coal mine and the Saraji East underground mine projects, which would have each produced up to 14 million tonnes per year, the paper said, without citing sources.

Tumbling prices for coal, iron ore and other resources due mainly to a slowdown in top consumer China have prompted miners across the market to reconsider expansion plans and in some cases cut back production.

In August, BHP shelved its planned $20 billion-plus Olympic Dam copper mine expansion plan and said no major projects would be approved in the year to June 2013.

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