Antinuclear

There were two key objectives for BHP in South Australia, asset president of Olympic Dam Darryl Cuzzubbo told a mining conference in Port Pirie.In his first public speech since taking command in SA, Mr Cuzzubbo said the priority was to make sure the existing Olympic Dam copper/uranium/gold operation was running at world-leading efficiency standards.

If not, he would have no credibility when asking the BHP Billiton board to fund the expansion. Secondly, the key was to make the economics of the expansion work. “We are absolutely determined to find the best way to expand Olympic Dam that competes against other investment opportunities,” he said…….

Since being granted a four-year extension by the State Government on the indenture covering the mine expansion, BHP has been working hard at rescoping the project…….  There were three areas to be resolved he said – to work out a more effective mining method to get down 350m to reach the ore, to process the minerals at less cost and to split the project into “bite-size” pieces so it could generate revenue along the way.

The original expansion method envisaged spending about $30 billion but not reaching the top of the ore body for four or five years.

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