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Xstrata: Suspends Expenditure On Wandoan Coal, Ernest Henry Underground Copper Projects
Jun 3,2010 10:17CST
industry news
Source:SMM

CANBERRA, Jun 02, 2010 (Dow Jones Commodities News via Comtex) -- Mining giant Xstrata Plc (XTA.LN) on Thursday said it will stop immediately development spending of A$568 million on its A$6 billion Wandoan thermal coal project and its A$600 million Ernest Henry underground copper project in Australia's Queensland state.

"The decisions represent the initial findings from Xstrata's ongoing review of planned investment into its Australian operations and growth prospects as a result of the Australian Government's proposed Resource Super Profits Tax," the Swiss-based company said in a statement.
 

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