The Conversation (0)
Mining Weekly reported that BHP Billiton Ltd. (ASX:BHP,LSE:BLT,NYSE:BHP) is set to exceed its copper production target for the 2016 financial year at the Olympic Dam mine. Located in South Australia, Olympic Dam was expected to put out 200,000 tonnes of copper during the period.
Mining Weekly reported that BHP Billiton Ltd. (ASX:BHP,LSE:BLT,NYSE:BHP) is set to exceed its copper production target for the 2016 financial year at the Olympic Dam mine. Located in South Australia, Olympic Dam was expected to put out 200,000 tonnes of copper during the period.
As quoted in the market news:
Asset president Jacqui McGill told the American Chamber of Commerce on Friday that copper production during the December quarter had increased by 37%, compared with the previous corresponding period, to a record 112 000 t.
“The grade of our copper ore has also increased by 35% in the December 2015 quarter, which is in line with the mine plan. “Again, this is an important point to note; we are now regularly delivering production that meets our plans, which has not happened consistently for some time.”
McGill noted that the changes at the Olympic Dam operations were necessary, given the position the mine was in only a year ago.
“The mood was sombre, and the site wasn’t operating at full capacity due to a failure of our Svedala mill, which is an important part of our production process. Our teams were disengaged, we weren’t profitable and we had a bleak outlook.
“We needed to act to secure the future of Olympic Dam, and that meant drastic action.”