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BHP Billiton to update on Olympic Dam in Q4

Wed Jun 4, 2008 11:46pm EDT

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MELBOURNE, June 5 (Reuters) - BHP Billiton Ltd/Plc (BHP.AX)(BLT.L), the world's top miner, said on Thursday it plans to give an update on development of its Olympic Dam mine in Australia in the fourth quarter.

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"We haven't taken any investment decisions. We will give an update in the fourth quarter as part of the rollout of our petroleum business," Chief Executive Marius Kloppers told reporters after a speech on Thursday.

Olympic Dam is one of the world's largest copper and uranium deposits.

In February, Rio Tinto Ltd/Plc (RIO.AX)(RIO.L) rejected BHP's offer of 3.4 BHP Billiton shares for each Rio share, now worth $170 billion, as too low. It has repeatedly said BHP needs Rio more than Rio needs BHP. ($1=A$1.04) (Reporting by Sonali Paul)

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