Sunday, June 17, 2012

Australia based BHP Silent on Ethiopian Project

By Robb M. Stewart

BHP Billiton is staying tightlipped on speculation it has decided to exit from a potash development in Ethiopia, even as the mining behemoth is expected to seek approval from its board later this year for the massive Jansen project in Canada.

Joel Jackson, an analyst at BMO Capital Markets, said that according to local sources BHP is believed to have decided to withdraw from the potash project in the African country. The company is reportedly closing down the camp at the site and is in the process of auctioning off equipment, Mr. Jackson said in a research report.
The Melbourne-based company said it isn’t its policy to comment on the specifics of its exploration programs.

“In general, the location of our exploration programs will change over time as opportunities emerge and as exploration programs are completed or transitioned to another business within BHP Billiton,” spokeswoman Kelly Quirke said."

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