BHP to invest AU$600M+ in multi-mineral ore mine
- Investment to ensure operation at Olympic Dam will support processing of additional tonnes in future

Australian BHP Billiton will invest more than AU$600 million (approx. US$478 million) in 2018 for Olympic Dam, its multi-mineral ore mine operations, the company announced on Friday.

The investment value marks the most significant investment the company has ever made in its South Australian operations.

The investment is divided into three areas; around 20 percent of the investment supports the underground expansion into the high-grade southern mine area including an additional fleet, telecommunications, raising bores, power and other services, BHP said.

Nearly 40 percent will underpin further underground development in the existing northern mine area and more than 40 percent is directed to a wide range of infrastructure and other programs onsite, including the major smelter campaign, which is a AU$350 million (approx. US$279 million) construction program to upgrade old integral components at Olympic Dam spread across 2017 and 2018, the company said.

"These investments – in our underground infrastructure and above ground processing operations – will help us build the foundations for long term, safe, stable and sustainable growth at Olympic Dam," said Jacqui McGill, asset president of Olympic Dam.

The investment will ensure the operation at Olympic Dam can support processing of additional tonnes in the future, McGill added.

By Zeynep Beyza Kilic

Anadolu Agency



04 Aug,2017