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DJ BHP: Olympic Dam Repairs Advance, Full Output During 3Q10

Thu. November 05, 2009; Posted: 11:51 PM
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SYDNEY, Nov 05, 2009 (Dow Jones Commodities News via Comtex) -- BHP | Quote | Chart | News | PowerRating -- BHP Billiton Ltd. (BHP) said Friday repairs to the damaged main shaft at its Olympic Dam copper-gold mine in South Australia were well advanced, adding that the mine is expected to resume full production no later than the third quarter of fiscal 2010 ending June 30.

In a previous statement BHP also said repairs to the shaft, damaged when a one of the large industrial bins that haul ore to the surface plunged around 700 meters down the shaft, would be completed during the third quarter.

Olympic Dam produced 194,100 metric tons of copper during the 2008-09 financial year, as well as 4,007 tons of uranium.

The mine is currently using a second, smaller shaft to hoist ore the surface, reducing output to 25%.

Olympic Dam accounts for 1.1% of global copper output, as well as 7%-8% of mined uranium, and the partial outage is significant for both markets.

Aside from reduced hoisting operations, BHP said it's soon beginning to trial trucking some ore to the surface via an existing decline.

The Melbourne-based miner has also brought forward significant maintenance work originally scheduled for 2010, including a major smelter reline, set to begin Nov. 16 until mid-January.

-By Elisabeth Behrmann, Dow Jones Newswires;

61-2-8272-4689 elisabeth.behrmann@dowjones.com

(END) Dow Jones Newswires

11-05-09 2351ET

For full details on BHP Billiton Limited ADS (BHP) click here. BHP Billiton Limited ADS (BHP) has Short Term PowerRatings of 5. Details on BHP Billiton Limited ADS (BHP) Short Term PowerRatings is available at This Link.

    


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