IndustryMinerals

Record gold/copper output in 2020-21 at BHP's Olympic Dam; $102 million for South Australia in royalties

Record gold/copper output in 2020-21 at BHP's Olympic Dam; $102 million for South Australia in royalties
BHP Olympic Dam asset president Jennifer Purdie with the South Australian far north mine's 19-tonne electro-refinery crane that started operating in 2021.
Image courtesy BHP

BHP’s Olympic Dam mine recorded its best year for gold and copper production in 2020-21 since the company took over the mine in South Australia’s far north in 2005.

BHP paid the South Australian government $102 million  in royalties from that year’s booming production at Olympic Dam and strong copper and gold prices.

Olympic Dam copper production rose 20% to 205,000 tonnes for the year, with more stability in its smelting and the underground mine performing well. This was up from 172 kilotons of copper in the 2019-20, 7% up on 2018-19. Its gold production of 146,000 ounces in 2020-21 was also a record. Olympic Dam uranium production fell 11% for the year to 3,267 tonnes, mainly due to a 40% slump in the June quarter when only 614 tonnes of uranium was produced.

Copper produced at Olympic Dam for the 2022 financial year was expected to fall to between 140 and 170 kilotons due to major smelter maintenance campaign.

Olympic Dam started operating its new electro-refinery crane in 2021.The 95-tonne crane with 32-metre span is used to submerge 360-kilogram copper anodes into the refinery’s 768 individual electrolytic cells, extracting the purified final copper that Olympic Dam exports to global customers. BHP Olympic Dam asset president Jennifer Purdie said the new refinery crane would make operations more stable and reliable plus support increased production over the long term.

BHP’s minerals exploration included a major copper target at Oak Dam, about 65km south of Olympic Dam. Previous drilling at Oak Dam confirmed high-grade mineralised intercepts of copper, with associated gold, uranium and silver. BHP’s 2021 annual report showed the company had 7,788 employees and contractors in South Australia and spent $1 billion with its 265 suppliers.

  • Information from Andrew Spence, InDaily, Adelaide

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