BHP CEO hypes up Olympic Dam uranium mine – but also hedges his bets with a plug for renewables
BHP says Olympic Dam expansion is ‘game on’ THE AUSTRALIAN Scott Murdoch JUNE 12, 2015 BHP Billiton chief executive Andrew Mackenzie has declared the Olympic Dam expansion is “game on” but admits there are technical and manufacturing hurdles that must be worked out before final approval is given to the giant project…….
The upgraded production targets at Olympic Dam would make it the second-largest copper mine in the world after giving the uranium and gold output an equivalent copper value, and it would be the world’s largest producer of uranium……..
BHP exports uranium to China and Japan for power generation but it would not reveal the value or volume of its annual sales. The miner is expected to make a submission shortly to the Nuclear Fuel Cycle Royal Commission in South Australia on uranium mining……
[But I note that CEO Andrew Mackenzie hedges his bets a bit: -]
“A move to renewable energy (in China) is good for our copper business. Copper is a material that will do well in a world that puts a greater accent on renewable energy. The quicker you can get thermal energy into the form of electrical energy the better in terms of efficiency and the best relatively affordable conductor is copper,” Mr Mackenzie said. “Part of the strength of our portfolio is that we are reasonably flexible as to what path China and other nations choose towards decarbonising their energy…” http://www.theaustralian.com.au/business/mining-energy/bhp-says-olympic-dam-expansion-is-game-on/story-e6frg9df-1227393713719
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