This year capital and exploration spending at BHP will be $13 billion less than in 2013, leaving the world's largest miner with a single greenfield project.
So far, copper prices have failed to react significantly to news of supply disruptions, remaining more responsive to news from China, the world’s largest consumer.
According to environmental scientist Peter Erskine, Australia will be left with a bill running into tens of billions of dollars unless the government starts taking mine rehabilitation seriously.