BHP Group – Olympic Dam Uranium Mine

BHP Group (Stock Symbols – NYSE: BHP, ASX: BHP, LSE: BHP, JSE: BHP) is one of the world’s largest resource companies producing a variety of commodities for global consumption.

They provide the world with critical products, including uranium, petroleum, copper, coal, iron ore, potash, silver, metallurgical coal, molybdenum, gold, nickel, natural gas, oil, and zinc.

The company’s products are vital to the decarbonization of our world. The graphic they provided below demonstrates future demand for their products under multiple scenarios.

BHP Commodities in a Decarbonized World
BHP Commodities in a Decarbonized World. Source: BHP

BHP Group is a large multinational corporation with a market capitalization over $100 Billion. The company operates in 20 countries around the world and employs about 72,000.

BHP Group’s largest uranium mine is the mighty Olympic Dam, approximately 350 miles north of Adelaide, Australia.

Olympic Dam purchased in 2005 with a $7.3 billion bid for WMC Resources and has operated the mine ever since.

You may not know that Olympic Dam is the fourth largest copper deposit and that uranium production is not its main product.

For the gold and silver bugs out there, this mine also produces about a half gram of gold per tonne and six grams of silver per tonne. 

Notably, the Olympic Dam is the world’s largest single uranium deposit.

In 2019, the company produced 7,860,000 pounds of uranium for consumption by global consumers.

This underground mine contains an extraordinary overall uranium resource of around 6 billion pounds.

The mining depth begins at approximately 1,100 feet below the surface and extends to almost 3,280 feet below the surface.

Olympic Dam consists of both surface and underground operations and includes a fully integrated processing facility with solvent extraction circuits for copper and uranium.

The Olympic Dam mine includes more than 280 miles of underground roads and tunnels.

Incredibly, they use automated train systems inside the mine.

These trains haul ore mined underground to crushing, storage, and ore hoisting facilities.

Suppose you are interested in the uranium market and want a less concentrated exposure to this individual commodity.

In that case, this company may provide that option for you with its diversified commodity base and global presence.

BHP Group was incorporated in 1885 as Broken Hill Properties Company.

The company headquarters is in Melbourne, Australia.

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After you have registered and logged in, don’t forget to join the BHP group, and then post your comments on the BHP Group forum.



Tweets

Demand for potash is expected to increase with future trends like population growth, decarbonisation and changing human diets. Learn more in our potash market briefing: https://bhp.co/kL

We are committed to addressing climate change and will be a net-zero company by 2050. The GHG Protocol Corporate Accounting and Reporting Standard classifies corporate greenhouse gas (GHG) emissions into three ‘scopes’. Here is more about Scope 2. More: https://bhp.co/kk

Our CEO, Mike Henry, spoke at the Legal and General Investment Management Sustainability Summit about BHP’s long standing commitment to playing our part in addressing climate change. We have a plan and we are taking action. More: https://bhp.co/kF #LGIMConference @LGIM

Edgar Basto, President Minerals Australia spoke at the recent Minerals Week and highlighted the role that BHP plays in building a better, clearer future for Australians. Learn more: https://bhp.co/jz

We are committed to addressing climate change and will be a net-zero company by 2050. The GHG Protocol Corporate Accounting and Reporting Standard classifies corporate greenhouse gas (GHG) emissions into three ‘scopes’. Here's more on Scope 1. Learn more: https://bhp.co/kk

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