The anticipated released of BHP Billiton's (ASX: BHP) full year financial results on Wednesday was not over an expected profit decline, but the mining giants intentions on expansion plans.

Pending the release of the BHP board's recommendation on the $30-billion Olympic Dam expansion plans, Minelife resources analyst Gavin Wendt opined that majority of BHP shareholders are not in favour of an expansion at this time.

At a period of economic uncertainty, the stockholders want the miner to be on the conservative side, Mr Wendt said.

"Everybody's going to be looking out for guidance on what BHP's going to be doing with some of these growth projects. BHP has tried to engage over the past few years in these mega-acquisitions. Unfortunately they haven't succeeded," Adelaide Now quoted Mr Wendt.

BHP has until Dec 15, 2012 to decide on the expansion plan, after which the expansion approvals would lapse and would require an endorsement from the South Australian state parliament.

The hesitancy of BHP shareholders reflects the slowdown in the once-booming resource sector in Australian. Besides BHP, other major players in the industry such as Rio Tinto, Xstrata and Yancoal Australia are reviewing or shelving expansion plans for major ventures or expansions due to lower commodity prices caused by the slowdown of demand for iron ore and coal from China.

BHP is tipped to report its first profit fall in three years which analysts said symbolises the end of Australian's mining boom. BHP reported a record $22 billion full year operating profit the previous financial year, but analysts believe the mining giant will log a $16.9 billion net profit on Wednesday due mainly to the decline in iron ore prices to below $120 per tonne.

Another indicator of the slowdown in Australia's resource sector is that BHP share price was $33 on Friday, compared with $37.50 12 months ago and $47.76 in April 2011.

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