BHP’s Oak Dam to Spearhead South Australia’s Copper Capital Ambitions

BHP is making significant strides at Oak Dam, a landmark copper discovery that's setting South Australia on a path to becoming Australia's copper capital. The surge in activities follows the State Government's green light for an extensive exploration program, with BHP now operating 12 drilling rigs and a bustling 150-person camp, signaling a major push to unlock this resource's full potential.

Incorporating Oak Dam with BHP's other state operations, including Prominent Hill, Carrapateena, and the Olympic Dam site, is part of a grand vision to create a formidable copper province in South Australia. This initiative is bolstered by exciting exploration results from Oak Dam and the "OD Deeps" program at Olympic Dam, revealing significant high-grade copper deposits.

These developments are timely, as copper demand is set to soar due to global decarbonization efforts. BHP's proposal for a new two-stage smelter at Olympic Dam could double its capacity, aiming to boost copper production to about 500,000 tonnes annually, marking a significant economic uplift for the region.

The collaboration between BHP and the South Australian Government, particularly in facilitating copper concentrate transfers, highlights a joint commitment to leveraging the state's mineral wealth. Yet, the ambition for a copper province's success is tied to essential infrastructure projects like the Northern Water Project. This project, crucial for supporting expanded mining operations, predicts a tripling in copper volumes and an extra $9 billion in royalties, contingent on securing a stable water supply for the region.

With Australia holding 13% of the world's copper resources and South Australia home to nearly 70% of the national share, the state is uniquely positioned to make a significant impact on the global copper supply chain. The Oak Dam project not only promises to elevate South Australia's role in this industry but also brings the prospect of job creation, skill development, local business growth, and substantial economic benefits, pending the realization of key infrastructure investments like the Northern Water Project.