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BHP Approves Investment to Expand Life of Spence Copper Mine
In mid-August, BHP approved a $2.46 billion Capex investment for the Spence Growth Option (SGO) at the Spence open-pit copper mine in northern Chile, which will extend the mine life by more than 50 years. Andrew Mackenzie, CEO, BHP, said the SGO project supports the company's strategy to deliver near-term, valuable copper production. In the first 10 years of operation, incremental production from SGO will be approximately 185,000 metric tons per year (mt/y) of payable copper in concentrate and 4,000 mt/y of payable molybdenum, with first production expected in the 2021 financial year. Execution of the Spence Growth Option will create long-term value for shareholders in one of their preferred commodities, Mackenzie said.
BHP Approves Investment to Expand Life of Spence Copper Mine
In mid-August, BHP approved a $2.46 billion Capex investment for the Spence Growth Option (SGO) at the Spence open-pit copper mine in northern Chile, which will extend the mine life by more than 50 years. Andrew Mackenzie, CEO, BHP, said the SGO project supports the company's strategy to deliver near-term, valuable copper production. In the first 10 years of operation, incremental production from SGO will be approximately 185,000 metric tons per year (mt/y) of payable copper in concentrate and 4,000 mt/y of payable molybdenum, with first production expected in the 2021 financial year. Execution of the Spence Growth Option will create long-term value for shareholders in one of their preferred commodities, Mackenzie said.
BHP Approves Investment to Expand Life of Spence Copper Mine
2017
Article (Journal)
English
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