BHP TO BEGIN REPAIRS ON OLYMPIC DAM URANIUM MINE THIS MONTH

Fri. November 06, 2009; Posted: 02:42 AM

MELBOURNE, Nov 06, 2009 (AsiaPulse via COMTEX) -- BHP | Quote | Chart | News | PowerRating -- Mining giant BHP Billiton Ltd (ASX:BHP) says repairs to the main haulage shaft at its Olympic Dam uranium and copper mine in South Australia will begin later this month.

The world's biggest resources company said repairs at its damaged Clark Shaft haulage system, which is responsible for 75 per cent of the mine's ore production, would begin November 18.

"Repair work to damaged equipment is well advanced with the removal of the haulage systems winder, which next week will be sent for repairs to Whyalla," the company said.

It is expected full production at Olympic Dam will begin no later than the end of March next year.

The Clark shaft was significantly damaged on October 6, leaving a secondary shaft with a much smaller capacity to truck ore to the surface.

In 2008/09 Olympic Dam produced about 194,000 tonnes of copper cathode, 4,000 tonnes of uranium oxide, 108,000 ounces of gold and 938,000 ounces of silver.

BHP Billiton said the temporary closure of the Clark Shaft has enabled the company to bring forward significant maintenance work originally scheduled for the 2010 calendar year.

Maintenance work will began on November 16 and run until mid-January and will include major smelter reline.

At 1607 AEDT shares in BHP Billiton were trading up 91 cents, or 2.5 per cent, at A$37.35 (US$33.98).

(AAP)maz

For full details on BHP Billiton Limited ADS (BHP) click here. BHP Billiton Limited ADS (BHP) has Short Term PowerRatings of 5. Details on BHP Billiton Limited ADS (BHP) Short Term PowerRatings is available at This Link.

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