BHP Group has identified a potential new iron oxide, copper and gold mineralized system near its Olympic Dam operations in South Australia as part of a copper exploration program, the miner said on Tuesday.

It said in a statement that the project was still in its infancy and that it was planning a further drilling program, slated to commence in early 2019.

The project is in a copper-rich region between the company’s Olympic Dam mine and Oz Minerals’ Carrapateena project. Copper is a major point of focus for BHP.

BHP’s announcement coincides with investor excitement over a potential copper find by its arch rival Rio Tinto in Western Australia. Rio Tinto has not commented on reports of the WA find.

 

Source: reuters.com

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