Material Characterisation by Modern Mineralogysaemc.com.au/archive/2014/14ehrig.pdf ·...
Transcript of Material Characterisation by Modern Mineralogysaemc.com.au/archive/2014/14ehrig.pdf ·...
Olympic Dam11th SA Exploration and Mining Conference
Kathy EhrigPrincipal Geometallurgist5th December 2014
Disclaimer
Slide 2
Forward-looking statements This release contains forward-looking statements, including statements regarding: trends in commodity prices and currency exchange rates; demand for commodities; plans, strategies and objectives of management; closure or divestment of certain operations or facilities (including associated costs); anticipated production or construction commencement dates; capital costs and scheduling; operating costs and shortages of materials and skilled employees; anticipated productive lives of projects, mines and facilities; provisions and contingent liabilities; tax and regulatory developments. Forward-looking statements can be identified by the use of terminology such as ‘intend’, ‘aim’, ‘project’, ‘anticipate’, ‘estimate’, ‘plan’, ‘believe’, ‘expect’, ‘may’, ‘should’, ‘will’, ‘continue’, ‘annualised’ or similar words. These statements discuss future expectations concerning the results of operations or financial condition, or provide other forward-looking statements. These forward-looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in the statements contained in this release. Readers are cautioned not to put undue reliance on forward-looking statements. For example, our future revenues from our operations, projects or mines described in this release will be based, in part, upon the market price of the minerals, metals or petroleum produced, which may vary significantly from current levels. These variations, if materially adverse, may affect the timing or the feasibility of the development of a particular project, the expansion of certain facilities or mines, or the continuation of existing operations. Other factors that may affect the actual construction or production commencement dates, costs or production output and anticipated lives of operations, mines or facilities include our ability to profitably produce and transport the minerals, petroleum and/or metals extracted to applicable markets; the impact of foreign currency exchange rates on the market prices of the minerals, petroleum or metals we produce; activities of government authorities in some of the countries where we are exploring or developing these projects, facilities or mines, including increases in taxes, changes in environmental and other regulations and political uncertainty; labour unrest; and other factors identified in the risk factors discussed in BHP Billiton’s filings with the U.S. Securities and Exchange Commission (the “SEC”) (including in Annual Reports on Form 20-F) which are available on the SEC’s website at www.sec.gov. Except as required by applicable regulations or by law, the Group does not undertake any obligation to publicly update or review any forward-looking statements, whether as a result of new information or future events. Non-IFRS financial information BHP Billiton results are reported under International Financial Reporting Standards (IFRS) including Underlying EBIT and Underlying EBITDA which are used to measure segment performance. This release may also include certain non-IFRS measures including Underlying attributable profit, Underlying basic earnings per share, Underlying EBITDA interest coverage, Adjusted effective tax rate, Underlying EBIT margin, Underlying EBITDA margin, Underlying return on capital, Free cash flow, Net debt and Net operating assets. These measures are used internally by management to assess the performance of our business, make decisions on the allocation of our resources and assess operational management. Non-IFRS measures have not been subject to audit or review and should not be considered as an indication of or alternative to an IFRS measure of profitability, financial performance or liquidity. No offer of securities Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell BHP Billiton securities or securities in the new company to be created by the proposed demerger (NewCo) in any jurisdiction. Reliance on third-party information The views expressed in this release contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. This release should not be relied upon as a recommendation or forecast by BHP Billiton.
Slide 2Olympic Dam – SA Explorers and Mining Conference, 5th December 2014
Statement of JORC resources
Slide 3
Mineral Resources
The information in this presentation that relates to the FY2014 Mineral Resources (inclusive of Ore Reserves) was reported by the Company in compliance with the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012’ (‘The JORC Code 2012 Edition’) in the 2014 BHP Billiton Annual Report on 25 September 2014.
All reports are available to view on http://www.bhpbilliton.com.
Mineral Resources are reported by S. O’Connell (MAusIMM) – Olympic Dam, L. Soto (MAusIMM), M Cortes (MAusIMM, both employed at Minera Escondida Limitada) – Escondida, Pampa Escondida, Pinta Verde, R. Turner (MAusIMM, employed by Golder Associates) – Chimborazo, M. Tapia (MAusIMM) - Cerro Colorado and Spence – combined as Pampa Norte, L. Canchis(MAusIMM, employed by Minera Antamina SA) - Antamina,
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.
The above-mentioned persons are full-time employees of BHP Billiton, unless otherwise stated, and have the required qualifications and experience to qualify as Competent Persons for Mineral Resources under the 2012 edition of the JORC Code. The compilers verify that this presentation is based on and fairly reflects the Mineral Resources information in the supporting documentation and agree with the form and context of the information presented.
Slide 3Olympic Dam – SA Explorers and Mining Conference, 5th December 2014
Mineral Inventory Classifications
Slide 4
Mineral ResourcesTable 1
DepositMeasured Resource
(Mt)
Indicated Resource
(Mt)
Inferred Resource
(Mt)
FY14 ROMproduction
(Mt)
Resource Life3
(Years)BHP Billiton interest (%)
Copper
Escondida1 5,750 @0.65% Cu
4,070 @0.53% Cu
16,400 @ 0.48% Cu 148 >100 57.5
Pampa Norte2 860 @0.6% Cu
1,130 @0.48% Cu
1,100 @0.40% Cu 52 59 100
Olympic Dam
1,270 @0.95% Cu,
0.29kg/t U3O3,0.4g/t Au,
2g/t Ag
4,680 @0.78% Cu,
0.24kg/t U3O3,0.32g/t Au, 2g/t
Ag
3,890 @0.72% Cu,
0.25kg/t U3O3,0.24g/t Au,
1g/t Ag
11 >100 100
Antamina
[email protected]% Cu,10g/t Ag,0.6% Zn
[email protected]% Cu,10g/t Ag,0.7% Zn
[email protected]% Cu,10g/t Ag,0.6% Zn
45 46 33.8
1. Escondida includes Escondida, Pampa Escondida, Pinta Verde, and Chimborazo.2. Pampa Norte is the sum total of Spence and Cerro Colorado. 3. Resource life is estimated from the FY14 classified Mineral Resources divided by the FY14 production rate on a 100% basis.
Slide 4Olympic Dam – SA Explorers and Mining Conference, 5th December 2014
Contents
Slide 5
About BHP Billiton
BHP Billiton Copper Business
Olympic Dam Operation
Olympic Dam Geology Research Projects
Olympic Dam – SA Explorers and Mining Conference, 5th December 2014
About BHP Billiton
Slide 6Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Whenan Shaft, Olympic Dam• We are a leading global resources company.
• Our purpose is to create long-term shareholder value through the discovery, acquisition, development and marketing of natural resources.
• We have a global footprint – 130 locations in 21 countries.
• Our strategy is to own and operate large, long-life, low-cost, expandable, upstream assets diversified by commodity, geography and market.
• Our strategy delivers more predictable business performance over time.
• In FY2014 our workforce comprised over 47,000 employees and 76,700 contractors.
A diversified global portfolio
Slide 7Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Iron OreOne of the world’s leading iron ore
producers.
CopperOne of the world’s premier
producers of copper, silver, lead and uranium, and a leading
producer of zinc.
Aluminium, Manganese and Nickel
One of the world’s largest integrated producers of aluminium,
nickel and manganese ore and alloy.
CoalThe world’s largest supplier of
seaborne metallurgical coal and one of the world’s largest producers
and marketers of export energy coal.
Petroleum and PotashConventional and unconventional
oil and gas operations and a potash development project.
Petroleum and PotashCopperIron OreCoalAluminum, Manganese and NickelOffices
Coal
Copper Business: a simple portfolio of unrivalled quality
Slide 8Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
100+
Pampa Norte
100+
45+
Escondida
Antamina
Olympic Dam
Singapore(Marketing Hub)
Santiago
Resolution
55+
Source: Resource life is estimated from the mineral resource divided by the FY14 production rate on a 100% basis. A breakdown of Mineral Resource by category is provided in Table 1, slide 4.
100+
Operations
Offices
Resource life1
(years)
Development option
Olympic Dam: a world class deposit
Slide 9Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
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Million tonnes CopperThousand tonnes U3O8
Chart depicts contained metal. Sources: Company Annual Reports, press releases and International Atomic Energy Agency (as at September 2014). Witwatersrand figure is BHP Billiton estimate and is approx imate only. # Based on Codelco reported figures at 0.2% Cu cut-off grade. BHP Billiton Mineral Resources for Olympic Dam and Escondida district (includes Pampa, Pinta Verde and Chimborazo) are on a 100% basis. The FY2014 Mineral Resource information for Olympic Dam and Escondida district on this slide is ex tracted from the report entitled BHP Billiton Annual Report 2014 published on 25 September 2014. The report can be viewed at www.bhpbilliton.com. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and contex t in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. A complete breakdown by Resource classification is provided on slide 4, table 1.
Million oz Gold
The Basalt Alteration Model (pre-1975)
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 10
gravity pr fo ile
m nag etic p lrofi e
LINEAMENTOBSERVED AT
SURFACEPresent surface
HOST ROCKSreduced - facies
fine - grainedlaminated sediments
PRECIPITATIONOF COPPER
AS SULPHIDES
TRANSPORT OFCOPPER UP
FAULT STRUCTURE
LEACHINGOF COPPER
SOURCEROCKSoxidisedtholeiiticbasalts
sedimentary basinor half graben
v
v
v
v
vv
v
v v
v v
v v
v v
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v
MODEL for FORMATION ofSEDIMENT HOSTED Cu DEPOSITS
MODEL for FORMATION ofSEDIMENT HOSTED Cu DEPOSITS
Gravity and Magnetic Data 1974
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 11
Bouguer Gravity 1974 (BMR) Aeromagnetics 1974 (BMR)
Target Selection:1- Lake Torrens2- Andamooka Opal Field3- Olympic Dam4- Bills Lookout5- Appendicitis Dam (Acropolis)
1- under saline mudflats2- Opal Fields explor restrictions3- shallowest depth to source4- access very difficult5- highest amplitude anomaly
The Exploration Model pre-1975
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 12
pre-1975 aerial photo
Olympic Dam
TMI CONTOURSBOUGUER GRAVITY CONTOURS
gravity pr fo ile
m nag etic p lrofi e
LINEAMENTOBSERVED AT
SURFACEPresent surface
HOST ROCKSreduced - facies
fine - grainedlaminated sediments
PRECIPITATIONOF COPPER
AS SULPHIDES
TRANSPORT OFCOPPER UP
FAULT STRUCTURE
LEACHINGOF COPPER
SOURCEROCKSoxidisedtholeiiticbasalts
sedimentary basinor half graben
v
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MODEL for FORMATION ofSEDIMENT HOSTED Cu DEPOSITS
MODEL for FORMATION ofSEDIMENT HOSTED Cu DEPOSITS
Olympic Dam Discovery (RD1 – RD10)
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 13
Drill Start Date
Depth (metres) Cu (wt%) U3O8 (ppm)
Au (ppm) Ag (ppm)
RD1 Jun 1975 353-391 (38m) 1.05 70 0.27 3.5
RD3 Oct 1975 barren
RD4 Dec 1975 barren
RD5 Jan 1976 364-456 (92m) 0.93 30 0.06 2.6
RD6 Mar 1976 barren
RD7 May 1976 barren
RD8 Jun 1976 356-370 (14m) 1.10 80 0.32 2.2
RD9 Aug 1976 low grade
RD10 Sep 1976 344-518 (174m) 2.03 620 0.66 3.0
Mineralised Intersections (>1% Cu, +10m thickness)1
Olympic Dam
13
4 6
95
8
7
101. these holes are incorporated into the FY14 resource estimate
pre-1975 aerial photo TMI CONTOURSBOUGUER GRAVITY CONTOURSRD1 – RD10
Olympic Dam Discovery (RD11 – RD19)
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 14
Mineralised Intersections (>1% Cu, +10m thickness)1
Olympic Dam
13
141211
15
18
17
Drill Start Date
Depth (metres) Cu (wt%)
U3O8 (ppm)
Au (ppm) Ag (ppm)
RD1 Jun 1975 353-391 (38m) 1.05 70 0.27 3.5
RD10 Sep 1976 344-518 (174m) 2.03 620 0.66 3.0
RD11 Jan 1977 330-454 (124m)495-610 (115m)
1.071.14
370500
0.360.43
1.73.6
RD12 Feb 1977 370-380 (10m)454-542 (88m)
2.131.00
430320
0.280.22
5.42.2
RD13 Mar 1977 328-380 (52m)432-454 (22m)
2.061.11
510280
0.460.65
4.34.1
RD14 Apr 1977 360-620 (260m) 1.02 270 0.21 1.6
RD15 Jun 1977 barren
RD16/W1 Jul 1977 458-469 (11m)666-868 (202m)
1.141.23
50270
0.130.42
6.44.9
RD17 Aug 1977 327-401 (74m)556-580 (24m)
1.320.47
420340
0.390.48
3.00.7
RD18 Sep 1977 454-460 (6m)518-590 (72m)
0.022.58
20590
3.190.81
1.08.5
RD19 Oct 1977 392-422 (30m)423-436 (13m)595-620 (25m)684-773 (89m)830-864 (34m)
0.041.010.032.650.69
404030
410360
1.599.281.340.340.39
1.09.31.19.11.6
19
1. these holes are incorporated into the FY14 resource estimate
pre-1975 aerial photo TMI CONTOURSBOUGUER GRAVITY CONTOURSRD11 – RD19
16
Olympic Dam Resource Outline and Operations Footprint
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 15
Olympic Dam
2014 image pre-1975 aerial photo RESOURCE OULINERD11 – RD19RD1, RD10, RD19
RESOURCE OULINERD1, RD10
Olympic Dam
Layout of Current Operation
Slide 16Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
RD10
Whenan Shaft
decline
core yard
Clark Shaft
decline 2
Backfill Quarry
Backfill Plant
SX
ROM stockpilesSvedala
Fuller
ANI
flotation
tails leach
CCDs
surge bins
conc leach
smelter 1
smelter 2
acid plant
anodes
concpond
PM refinery
ER refinery
EW refinery
EW slag
FF slag
recycle yard
EW slag
raise bore
raise bores
raise bore
raise bore
raise bore
raise bore
raise bore
raise bore
raise bores
raise bores
raise bore
raise bore
Robinson Shaft
raise bore
Resource drilling → Resource estimation
Slide 17Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Cu wt %
0.0-0.1
0.1-0.3
0.3-1.0
>1.0
Simplified Underground Operation Process Flow Diagram
Slide 18Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Design, schedule, develop, drill, blast and haul
Slide 19Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Development Drilling Production Drilling Blasting
Load and HaulGrizzlies/CrushingRail Haulage
Ore hoisting, conveying and ROM stacking
Slide 20Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Whenan Shaft
ROM Stacker
Clark Shaft
Backfilling mined stopes
Slide 21Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Quarry
CAF Plant
In-pit Crushing
FY14 Production Stopes
Slide 22Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Olympic Dam Mineralogy
• Complex breccia textures, yet relatively simple mineralogy • Wide spectrum of mineral mixtures Þ many ‘ore types’
Sub-Econ Minerals(may be deleterious) Gangue MineralsEconomic Minerals
Olympic Dam ‘Ores’>90 minerals
(but 15 process critical minerals)
Cu-Sulphides (py-cp-bn-cc)(concentrate quality)
uranium minerals(uranium recovery)
Au-Ag
Co-, Zn-, Mo-, REE-,As-, Se-, Bi-, Te-, Sb-, Pb-
bearing minerals(concentrate and cathode quality)
Hematite grinding
Quartz grinding
Sericite slimes
K-feldsparChlorite acid, gelling
Siderite acid, gelling
FluoriteBarite+etc
Slide 23Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Simplified Ore Processing Flow Diagram
Mining Stockpile Grinding Sulphide Flotation
Concentrate Leach
Tailings Leach
SmeltingCu-anode
ElectrolyticRefining
Electrowinning
SlimesTreatment
Cu-U SXCounter Current
Decantation
EWCathode UOC
ERCathode
AuAg
U precip/calcination
Flot
atio
n Ta
iling
s
Slide 24Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Concentrator (grinding, flotation, concentrate leach)
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 25
Grinding (~10 Mtpa)• Purpose: liberate sulphides from gangue minerals• Product: ore with a P80 ~ 75mm from a feed F80 ~135mm• 3 autogenous mills
Flotation (~520k tonnes concper annum)• Purpose: separate sulphides from gangue minerals• Product: sulphide mineral concentrate• Recovery to concentrate: Cu ~90%, U ~15%, Au-Ag ~70%,
~80% sulphide minerals, ~20% gangue (operating target)
Concentrate Leach (~460k tonnes per annum)• Purpose: to reduce fluorine and uranium content• Product: leached sulphide concentrate• Slightly upgrade the % sulphides via hematite dissolution
Hydromet (tailings leach, CCD, SX and UOC production)
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 26
Tailings leach (~9.5M tonnes leached per annum)• Purpose: leach U from float tailings, also partially leach Cu• Products: leach residues and Cu-U acidic liquors
Counter current decantation (~53% solids)• Purpose: separate leach residues from Cu-U bearing liquors• Products: washed leach residues and Cu-U bearing liquors
Solvent extraction / Cu EW• Purpose: separate Cu- from U-bearing liquors• Products: EW Cu cathode and Cu raffinate
U SX / UOC production• Purpose: separate U from Cu raffinate liquors• Products: UOC concentrate and depleted metal liquor
Smelter (FF/EF, anode refining and acid production)
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 27
Single stage flash smelting (~460ktpa leached concentarte)• Purpose: primary separation of Cu (blister), Fe (slag), S
(acid)• Products: blister Cu, FF slag, off-gases
Dust handling• Purpose: recover Cu from reaction shaft ‘dust’ and manage
radionuclide balance in smelter• Products: Cu-sulphates and Cu-oxides for bleeding back
into concentrate leach
Electric furnace• Purpose: clean up FF slag• Products: Cu blister and EF slag (remilling-flotation)
Anode refining (~15% more tonnes than Cu ER production)• Purpose: remove O and S from Cu blister• Products: Cu anode for ER (99.9% Cu)
Acid production from met gas and sulphur imports• Purpose: recover SO2 and clean off-gas• Products: sulphuric acid for tailings/concentrate leach
Refinery (electrorefining and precious metal refining)
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 28
Copper electrorefining (FY14 ~173k ER cathode)• Purpose: separate Cu from cathode deleterious elements,
produce a 99.999% Cu product• Products: ER copper cathode and PM-bearing refinery
slimes
Precious metal refining• Purpose: recover precious metals from the refinery slimes• Products: Au and Ag bullion
Olympic Dam Products – FY14*
Ag 972 koz
Cu 184.4 kt
Au 121.3 koz
UOC 4.0 kt
* BHP Billiton Production Report for the Year Ended 30 June 2014http://www.bhpbilliton.com/home/investors/reports/Documents/2014/BHPBillitonAnnualReport2014.pdf
Slide 29Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Olympic Dam Historical Cu Grades and Tonnes Milled
Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014 Slide 30
Olympic Dam Milestones1975 Discovered by WMC
1979 Joint venture with BP1982 Indenture Agreement with SA Government
Whenan Shaft completed
1983 EIS approved - 150,000 tpaCu 1988 Production began - 45,000 tpa Cu & 800 tpa U
1992 First Au and Ag1992 Optimisation # 1 - 66,000 tpa Cu & 1500 tpa U
1995 Optimisation # 2 - 84,000 tpa Cu & 1500 tpa U1997 EIS approved for 350 ktpa Cu
Construction for 200 ktpa Cu2000 OEP major expansion completed
2005 BHP Billiton Acquisition2006-9 Expansion Studies and EIS submission
2010 Major repairs to Clark hoist2011 Historical record FY hoist and milling performance
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
FY89
FY91
FY93
FY95
FY97
FY99
FY01
FY03
FY05
FY07
FY09
FY11
FY13
Mill
Fee
d C
u gr
ade
(wt%
)
0.0
2.0
4.0
6.0
8.0
10.0
12.0
FY89
FY91
FY93
FY95
FY97
FY99
FY01
FY03
FY05
FY07
FY09
FY11
FY13
Tonn
es (M
tpa)
mill
ed
Sources: Annual Production Report, BHP Billiton
Debottlenecking Olympic Dam Capacity to 235ktpa
Mined stopesPlanned stopesODP1 starter pit initial location South Mining Area (SMA)
~ 70% of Resource
• We plan to increase copper production capacity at Olympic Dam by ~50 ktpa1 from FY18
– expanding mine footprint into Southern Mine Area to access higher grade ore and increase total ore hoisted to 11 Mtpa
– grades will recover to >2.2% by FY20
– enables full utilisation of the bottleneck at the smelter and refinery
• Increased volumes and additional cost savings will place Olympic Dam in the first to second quartile of the C1 cost curve
• Requires US$200 million of surface debottlenecking capital and the acceleration of long-term drilling plans and mine development
• Underground mine development is currently in execution
1. Excludes potential impact of Olympic Dam 21 Mtpa Underground Expansion
North Mining Area (NMA)~ 30% of Resource
Olympic Dam Resource
Slide 31Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Olympic Dam 21 Mtpa Underground Expansion
Heap leaching test columns, Olympic Dam
• We are evaluating a low-risk, capital efficient underground expansion at Olympic Dam
– supported by current stoping mining method with significantly smaller footprint than prior open-cut design
– increase ore hoisted capacity to 21 Mtpa
– will include a heap leach stream operating in parallel with current concentrator and uranium leach plants
– modular development path will be value accretive at each incremental stage
• Technology is a key enabler of improved capital efficiency
– our heap leach test program is delivering promising results, significantly improved economics
• Potential to deliver over 450 ktpa1 of copper from FY24 with a first quartile C1 cost position post by-product credits
• Maintains longer-term optionality for open pit development
• Progressing to pre-feasibility in CY15, subject to approval
1. 750 ktpa on a copper equivalent basis (including, gold, silver and uranium by products), subject to BHP Billiton Board approval.
Slide 32Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014
Current Geological Research Projects
Geological Survey of South Australia• HyLogger (SWIR and TIR)
– OD cross section from RDG through mineralisation– Oak Dam cross section: 5 diamond holes– Wirrda Well: 9 holes along a pseudo-section
SA Mining and Petroleum Centre of Excellence• Trace element deportment in Fe-oxides (IMER, Ciobanu)• Notification of funding request outcomes - very soon
University of Adelaide• PhD projects (Cook, Ciobanu, Pring, Foden)
– Uranium mineralogy – Edeltraud Macmillan– REE-U and albitisation - Alkis Kontonikas-Charos– Geochemical signatures of apatite – Sasha Krneta– Fe isotopes – Christine Wawryk
University of Tasmania – CODES (Vadim Kamenetsky, Jocelyn McPhie and Maya Kamenetsky)
• PhD projects – Mafic magmatism at OD – Qiuyue Huang– Carbonates at OD – Olga Apukhtina– Bedded sedimentary facies at OD – Alex Cherry
• Dating of mineralising events at OD– Extensive LA-ICPMS dating of hydrothermal minerals –
Sebastien Meffre, Jay Thompson, Paul Olin– Sm-Nd and Rb-Sr dating – Roland Maas (Univ of Melb)– 235U/238U and Pb isotopes – Maria Kirchenbaur
(Universität zu Köln)– Zircon trace element chemistry – Elena Belousova
(Macquarie University)
University of Tasmania – CODES (Cook et al.)• ARC ITRHub: The Mining Value Chain
Slide 33Olympic Dam – 11th SA Explorers and Mining Conference, 5th December 2014