(Sharecast News) - BHP Group will invest further in its Olympic Dam project in order to boost its copper base and production of the metal.
The miner will funnel roughly £411m into construction of a new tunnel to tap into copper deposits in the Southern Area of the mine, together with the infrastructure needed to expand ore processing.

"BHP is the largest producer of copper in the world, and we expect to grow our copper base from 1.7m tons to around 2.5m tons per annum," chief operations officer, Edgar Basto, said.

"Achieving that scale requires significant copper growth, and we are fortunate to have a world-class copper province right here in South Australia to do just that."

The company's stated goal was to boost annual production of copper cathode from 322,000 tonnes in 2024 to 500,000 tonnes by early the next decade.

The company's stated goal was to boost annual production of copper cathode from 322,000 tonnes in 2024 to 500,000 tonnes by early the next decade.

• News Channel