Xstrata: Suspends Expenditure On Wandoan Coal, Ernest Henry Underground Copper Projects-Shanghai Metals Market

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Xstrata: Suspends Expenditure On Wandoan Coal, Ernest Henry Underground Copper Projects

Industry News 10:17:15AM Jun 03, 2010 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.
 

Xstrata: Suspends Expenditure On Wandoan Coal, Ernest Henry Underground Copper Projects

Industry News 10:17:15AM Jun 03, 2010 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.