RE: BHP''''s copper► Here is a press account of the increase in resource calculations at BHP’s Olympic Dam property. Note, in particular, the bottom two paragraphs, which are their comments about the prospects for its future development. Interestingly, their very words could also aptly describe the additional resources at Mercator’s Mineral Park Mine, since its current reserve calculations are based on drilling to a 1,000 foot depth. But one hole was drilled to a depth of 5,000 feet, and it encountered molybdenum mineralizion throughout its entire depth.
BHP's giant mine yields even more treasures
Bill Condie, Evening Standard
26 September 2007, 10:09am
BHP Billiton today upgraded the amount of uranium, copper and gold it expects to dig out of its giant Olympic Dam mine in Australia by a massive 75% to 7.7bn tonnes.
Olympic Dam holds around 30.6m ounces of gold on an indicated resource basis, up from 17.5m ounces a year earlier.
The copper resource at Olympic Dam, previously the world's fourth largest deposit of the metal, rose 38% to 67m tonnes, from last year's estimate of 48.7m tonnes, while the uranium oxide resource rose 27% to 2.2m tonnes, from 1.7m tonnes…....
“Due to the size of the Olympic Dam orebody, there is potential to further increase the size of the operation over and above the current capacity,' the group said in its annual report.
“A substantial expansion of Olympic Dam will require completion of feasibility study and subsequent board approval, as well as various regulatory and governmental approvals covering a range of operational matters.”
https://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=424719&in_page_id=3