Dec. 15 (Bloomberg) -- BHP Billiton Ltd., the world’s largest mining company, will delay an energy plant to supply the world’s biggest copper mine in Chile amid the financial crisis.

The plant was to have supplied energy to BHP’s copper mines at Spence and Escondida, the world’s biggest, BHP spokesman Illtud Harri said today in an e-mail from London.

A slump in prices has led BHP Billiton and Freeport-McMoRan Copper & Gold Inc. to delay projects in Chile, the world’s biggest supplier of copper. BHP postponed the development of a molybdenum plant last month in Chile, while Freeport shelved a $450 million mine expansion as copper demand weakened.

“We will continue to evaluate the situation and will resume the process when appropriate,” Harri said. He declined to say when the company may restart the project.

BHP presented plans for the power plant to Chilean regulators in 2006, when companies were planning new projects in northern Chile to take advantage of rising metals demand. Copper has fallen by two-thirds from a record $4.2605 a pound in May.

Melbourne-based BHP may revive the energy project in six to 12 months, Chilean newspaper El Diario Financiero reported today, citing Diego Hernandez, president of the company’s base- metals unit. BHP, which owns 57.5 percent of Escondida, said in October that output at the mine will fall 10 percent through next July because of equipment failure.

To contact the reporter on this story: Brett Foley in London at bfoley8@bloomberg.netHeather Walsh in Santiago at hlwalsh@bloomberg.net.

Last Updated: December 15, 2008 16:28 EST