BHP searching for more projects around Olympic Dam

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BHP Billiton is reportedly on the hunt to develop more sites around its new Olympic Dam development in South Australia.

According to the Herald Sun BHP is scouring neighboring operations and looking to expand its operations in the area.

An unnamed source told the Herald Sun BHP may have found a good deposit at Wirrda Well, 20km south of Olympic Dam.

"It’s pretty apparent that BHP do want to get dominant control of the Stuart Shelf region," they said.

Like Olympic Dam, Wirrda Well is host to a variety of minerals, including copper, gold, iron ore, and silver.

Late last month BHP bought several exploration tenements near Olympic Dam off Archer Exploration for $3 million.

In other BHP news, the company has announced plans to halt bauxite exploration in Guinea after a drop in aluminum prices.

BHP said it would be returning the mining permits for its Boff-Santou-Houda site following an 18 per cent slump in the market.

The company said closing the site had nothing to do with planned changes in Guinea’s mining policy, which aims to give the Government a larger share in mining projects.

It said exploration had stopped and all other activities would cease before June 30.

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