sa copper prospects

An old mate of the thread who currently isn't posting, alerted me to an article on The Perth Today website that talks up the Olympic Dam project & their faith in copper going forward. For those not familiar, RMG often allude to the proximity & similar geology of Olympic Dam to our own slice of SA.

BHP says Olympic Dam forecasts could beat the entire Pilbara region

SARAH MARTIN, POLITICAL REPORTER From: The Advertiser October 18, 2010 8:35AM
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BHP Billiton's Olympic Dam operations in Roxby Downs, South Australia. Picture by Kelly Barnes Source: The Australian

BHP Billiton has radically upgraded its forecasts for the Olympic Dam mine expansion, declaring the mine could rival the entire Western Australian Pilbara region.

The announcement, made at a briefing in South America recently has prompted calls for the Government to review its approval process for the $21 billion mine expansion.

In the presentation, a senior BHP executive indicated the company plans to produce almost 1.4 million tonnes of copper per year at the Roxby Downs mine - almost double the 750,000 tonne limit outlined in current expansion plans.

The presentation suggested the company would achieve that level of production after just 11 years of operation at the mine, meaning a new approval process would have to be instigated.

Minerals Resources Minister Paul Holloway said the current Environmental Impact Statement covered the company up to 750,000 tonnes.



"If it wanted to extend beyond that, clearly, they would have to apply and the process would begin again.'' Mr Holloway said.

"If BHP wished to double production again then one imagines that will inevitably mean that they will go through the same sort of process they are going through nowif they seek to go beyond what would be their approval limits.''

"That is what has happened in the past and I do not see any reason why they would not be the case in the future,'' he said.

Greens MLC Mark Parnell said the company's plans to double expansion should require it to submit a revised EIS allowing further public consultation.

"This has major implications for BHP Billiton and its shareholders,'' Mr Parnell said.
"The State Government and BHP Billiton need to come clean with the South Australian people and reveal the full extent of this project, before any approvals are given," he said.

A spokeswoman for BHP Billiton said the company was seeking government approvals to develop the open pit at Olympic Dam to annual production capacity of up to 750,000 tonnes per annum.

``It may be possible for Olympic Dam to one day expand beyond that, possibly to a million tonnes per annum,'' she said.

"However, any proposal beyond the current EIS would need further study and additional approvals under a separate EIS.''