Operational for over 30 years, the Olympic Dam Mine is located near Roxby Downs, a 90-minute flight northwest of Adelaide and home to some of the richest mining deposits in the nation. Owned and operated by Australia’s largest mining company, we will take you on a tour of this large mining project and point out some of the most important features of the site.
Where is the Olympic Dam Mine Located?
Roxby Downs is a mining town sustained by the success of the industry. The area has long been bound to the mining industry since opal mining rushes began during early settlement. Built specifically to service the mines in the area, it is a well-known town for miners built by miners. Surrounded by an unforgivingly scorching environment, the working conditions are not for the faint-hearted, with temperatures regularly reaching upwards of 30 degrees Celsius.
Beneath the mine surface lies a complex network of tunnels covering about 450km. Reaching depths of over 850m, the Olympic Dam Mine could be set to become one of the biggest mines in the world with state and federal governments identifying it as a key labour project for securing prosperity in a post Covid-19 world. Whether this would create an expansion of capabilities and outputs below the ground or the establishment of open-cut mining it is yet to be determined. Nonetheless, whatever the future holds it seems that there is one certainty about the site - growth.
What is Mined at the Olympic Dam Mine?
The mine site is diverse and rich in its mineral vitality, home to some of the world’s most substantial deposits of gold, silver, uranium and copper. An iron oxide gold deposit reserves almost more than 3 billion tonnes and this mine is the single largest uranium orebody in the world. Uranium export agreements exist between the mine and nations including the United States, Canada, Japan, China, France and the United Kingdom. While there is such a large body of uranium with over 4,500 tonnes being extracted per year, copper still leads in bringing in most of the mine’s revenues at around 75%. Copper production towers uranium production with annual figures totalling near 200,000 tonnes.
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Who Operates the Olympic Dam Mine?
Not only the biggest mining company in Australia but the second biggest in the world, BHP specialise in mining coal, copper, iron ore and petroleum. The Olympic Dam site is one of the most important projects in its portfolio. BHP gained ownership of the mine in 2005 with a licence to mine the site until 2036 with the option to extend a further 50 years. Prior to Scott Morrison announcing in the midst of Covid-19 that the mine could be expanding, BHP had several proposals for expansion rejected from 2008 to 2013. In the past five years, the company has experienced growth year on year in relation to creating over 500 jobs in 2017 alone. It is predicted that if the proposed mine expansion goes ahead, another 1,800 jobs will be created. As a gateway for financial security in a time of great uncertainty, BHP’s Olympic Dam Mine presents itself as one of the most important projects in the nation.
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(Image sources: The Northern Miner, BHP)