Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199


Search Gold Prices
Gold Price
[Most Recent Quotes from]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« Fronteer Developments Group: Completes takeover of NewWest Gold Corp | Main | Gold stocks: take some profits »

BHP Billiton: Olympic Dam Gold Reserves Up 50%!

BHP Billiton Logo 24sep07
An announcement is expected tomorrow from BHP Billiton that the gold reserves at Olympic Dam are 50% bigger than previously thought, which could make it the biggest gold mine in the world.

A spokesman in London said:

"Olympic Dam is a world class deposit and we are going to be releasing an increase in our resource estimates with the annual report on Wednesday"

A report in the Guardian goes on to say:

“Situated 330 miles north of Adelaide, South Australia, Olympic Dam contains deposits of several minerals and is already the home to the world's largest uranium mine.

BHP has grown in value on the back of the China-fuelled commodity boom. Its stock market value has reached $200bn (£99bn), compared with $30bn five years ago. Yesterday the share price rose 81p to £17.37. Rival mining firm Xstrata was up 146p at £32.90.”

We do not own BHP Billiton but this is great news for those who do own it.

Calling all Australian gold bugs any comments please!

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>
Errors occurred while processing template[pageRendered/]:
StringTemplate Error: Can't parse chunk: {settingHomePageKBArticle}" target="_blank">Learn how.</a></li>
<li>If you have already selected a front page, make sure it is enabled. Click on the Cubes icon (top right) and then click the "enable page" button.</li>

: expecting '"', found '<EOF>'
StringTemplate Error: problem parsing template 'pageRendered/noDefaultModule': null
StringTemplate Error: problem parsing template 'pageRendered/noDefaultModule': null