November 26, 2018 / 10:48 PM / 21 days ago

BHP flags new find under copper program in South Australia

Nov 27 (Reuters) - 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.

Reporting by Ambar Warrick in Bengaluru Editing by Sonya Hepinstall

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