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

SMM Daily Review - 2010/6/2 Base Metals Market 

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.
&quot;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,&quot; the Swiss-based company said in a statement. 
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