BHP deserts Olympic Dam

MINING Giant BHP Billiton has deserted its plans for a $30billion expansion of its Olympic Dam uranium mine in remote South Australia.

The company announced the changes to its plans for a huge open-pit expansion on Wednesday to the Australian Stock Exchange.

BHP will take a $346 million hit to its bottom line to the changes, but the company still plans to investigate other expansions of the nation's biggest uranium mine that were "less capital-intensive".