BHP ditches $2bn Olympic Dam expansion plan
Global diversified miner BHP has indicated that it will not proceed with the $2.1-billion brownfield expansion (BFX) project at its Olympic Dam mine, in South Australia, saying that the project's economics have encountered “challenges”.
The BFX option, which was first announced in 2017, focused on the accelerated development of the high-grade Southern Mine Area (SMA) and would have increased copper production to 330 000 t/y.
BHP said on Tuesday that it had completed more than 400 km of underground drilling associated with the BFX project studies and that it now had a better understanding of the orebody’s variability.
“We have decided the optimal way forward for now is through targeted debottlenecking investments, plant upgrades and modernisation of our infrastructure,” the company said.
Over the next two years, its focus would remain on completing its asset integrity programme, which would underpin more stable operations and expected copper production of more than 200 000 t/y.
“The long-term opportunity for Olympic Dam is unchanged, with our enhanced understanding of the resource in the SMA and the promising results from Oak Dam providing strong foundation for unlocking the full growth potential of this asset.”
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