Newmont, Teck

Newmont Mining Corp., the world's second-largest gold producer, said in February the cost of developing the Boddington mine in Australia may jump by as much as 78% to $US1.6 billion, citing higher wages and material prices. Teck Cominco Ltd. and NovaGold Resources Inc. halted construction of the Galore Creek copper and gold mine in British Columbia in November after the estimated cost more than doubled to $5 billion.

Rio Tinto cast doubt on the timing and viability of the expansion of Olympic Dam, the Australian reported March 27, citing Rio Chief Executive Officer Tom Albanese. BHP said in February it had arranged a $US55 billion loan to help fund the Rio purchase.

Hunt cited ''equipment shortages, building all that in the middle of the Australian desert, access to skills, lead time'' as reasons for the decision to stagger the development of Olympic Dam. The decision wasn't driven by the financing, he said.