BHP earmarks $555 million to boost copper production in South Australia

Oct 1 (Reuters) – BHP said on Wednesday it would invest more than A$840 million ($555.16 million) in its Olympic Dam copper operations in South Australia as the miner prepares to make an investment decision by mid-2027 to double output from the state. South Australia is home to one of BHP's three copper growth projects, including Olympic Dam. The Olympic Dam project holds one of the world's largest deposits of copper, uranium, and gold, making it vital for BHP and Australia's role as a major global supplier of copper, a key metal needed for the transition to a low-carbon world. The project has consistently produced more than 300,000 metric tons of copper annually for the past three years. BHP, the world's largest listed miner, is now preparing to make a final investment decision by mid-2027 for a smelter and refinery expansion at Olympic Dam, with an aim to double copper output in South Australia to 650,000 tons by mid-2030s. The A$840 million investment will fund key initiatives, including an underground access tunnel, a new backfill system, expanded ore pass capacity, and a new oxygen plant to enhance smelter efficiency. "Together, these projects and those underway elsewhere across Copper SA will improve efficiency and support future growth options of South Australia's copper province," BHP said. The investment is expected to create nearly 200 construction jobs, reinforcing South Australia's position as a major global copper supplier, the company said. ($1 = 1.5131 Australian dollars) (Reporting by Roshan Thomas in Bengaluru and Melanie Burton in Melbourne; Editing by Subhranshu Sahu)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)