Bad news for South Australian Property Investors in Roxby Downs

BHP has made the decision to cancel its $30 Billion Olympic Dam mining expansion in Roxby Downs.Β  This is bad news for anyone looking at getting starting in property investing and selecting Roxby Downs as their first venture. With the area previously running hot with the buzz of the expansion after BHP was granted approval early this year, the cancellation will have a negative effect on the market.

BHP stated that it was the reduction in commodities prices and rising capital costs that forced them to cancel the expansion and look for alternatives.