BHP's Olympic Dam Granted Major Project Status by State Government
14 February 2019 - 5:27PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Plans to expand BHP Group Ltd.'s (BHP.AU) Olympic Dam
copper, gold and uranium mine in South Australia have been granted
major project status by the state government.
BHP has spent years developing plans to increase annual
production at the mine as high as 350,000 metric tons, from about
200,000 tons now, and intends to seek board approval for an
expansion project in mid-to-late 2020.
The declaration of major-project status helps to streamline
planning applications to the government. It is "an important step"
towards lifting BHP's Australian copper production, the miner
said.
Olympic Dam is a key part of BHP's strategy to grow its output
of copper, an industrial metal forecast to be in short supply in
coming years, tacking away from commodities such as iron ore in
which it has already expanded heavily. It is the world's biggest
deposit of uranium and one of the biggest known sources of copper
and gold.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
February 14, 2019 01:12 ET (06:12 GMT)
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