By Rhiannon Hoyle
BHP Group will invest more than 840 million Australian dollars, equivalent to US$555 million, in new projects at its Olympic Dam copper mine in South Australia.
The move comes as the miner seeks to strengthen its copper business to meet rising demand from electric vehicles, renewable power and data centers.
Melbourne-based BHP, the world's biggest miner by market value, said the investment will fund projects aimed at improving productivity at the underground mine and preparing it for future expansion.
The projects include building a tunnel into the southern area of the mine to access a new section of the resource and improve transport of materials and equipment. BHP is also expanding its underground electric rail network and adding six locomotives, among other projects.
BHP, the world's largest copper producer, forecasts global demand for the metal will rise 70% by 2050, driven by population growth, rising living standards and the clean-energy transition.
Last year, BHP sought to buy U.K. rival Anglo American in a roughly US$50 billion bid to expand its global reach, but the offer was rejected. Two months later, the miner purchased a roughly US$2.1 billion stake in two copper deposits on the Argentina-Chile border.
In Australia, the new Olympic Dam projects "strengthen the foundations for future growth," said Anna Wiley, Copper South Australia asset president, in a statement. BHP's Copper South Australia business includes underground mines at Olympic Dam, Prominent Hill and Carrapateena, which feed a central smelter and refinery at Olympic Dam.
BHP also has a nearby exploration project called Oak Dam, which could become its fourth mine--with operations having produced 316,000 metric tons of copper in the year through June.
The company is studying a potential expansion of the smelter and refinery with the aim of doubling copper production from the region by the middle of next decade.
"Copper SA is a globally significant province, and BHP's continued investment is a clear signal of our long-term commitment to its development," Wiley said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
October 01, 2025 02:58 ET (06:58 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
