Analysts speculate Sask. BHP project may be put on hold
Analyst expectations aren't resonating with those at BHP Billiton, the world's biggest miner.
The company chair on Wednesday said they are re-thinking expansion plans and BHP will not spend $80 billion over five years as outlined in 2011. As a result, some analysts now believe the $5 billion Jansen mine in Saskatchewan may be put on hold.
But BHP Vice President of External Affairs Chris Ryder said they don't really respond to speculation. He added it's business as usual and there's no need to worry.
Ryder said they're now moving 30,000 loads of aggragate to prepare the Jansen site for surface construction. Also, two shafts have been sunk to about 50 metres.
Equipment from Germany is expected soon to start sinking the next 950 metres and production is still scheduled to begin in 2015.