#Official Mining Thread
It won't happen. From what I have seen over the years, Marathon Resources deals mainly in smoke and mirrors. They come up with a lot of ludicrous ideas and make the news, trying to bump up their share price, but it all ends in ..... nothing. Earlier this year they were talking about open cut mining for Uranium on Mt Gee at Arkaroola.
cheers,
Rhino
Rhino
From Friday's 'Tiser:
Prominent town to be envy of many
RAISED out of the South Australian desert in a matter of months, Prominent Hill will soon be a town that is the envy of most rural dwellers.
At its peak early next year, during construction of the Oxiana open-cut copper and gold mine, more than 800 people will live in a town that still is just a bunch of drawings.
They will have almost all the facilities you could expect in suburban Adelaide, and many more facilities than are offered in rural townships.
"You will be able to do all the things you could expect to do in the city when out here," Prominent Hill mine manager Graeme King said.
"It will be town in the true sense, even though it is referred to as a mining camp."
The town will include an oval, tennis court, swimming pool, recreation rooms, a gym and walking and cycling tracks.
Each mine worker will have a room with an ensuite and access to cable television.
They will be looked after and fed well, their linen cleaned for them and a choice of at least three main meals each night.
And in what are some tough work conditions in the desert at the heart of South Australia, the workers' spirits will be kept up with access to a bar.
The development of Prominent Hill is moving "phenomenally fast", Mr King said.
In July, there were about 20 to 30 people living in the exploration camp. That has grown to about 140, the camp being expanded to accommodate the extra workers.
By Christmas, 250 people will be at the camp and construction will be well under way 4km away on a new camp to accommodate 800 workers, who will build the mining operations and the permanent town.
Once construction is finished in mid-2008, about 400 workers will maintain Prominent Hill's operations.
"If you can move fast on these developments, you can gain so much," Mr King said.
"You get your costs down and get your revenue coming in faster . . . you do not expose yourself for as long."
Like every town, Prominent Hill needs infrastructure, including water and power supplies. The availability of these essentials is made more difficult because of its isolation.
Pipelines are being laid to bring bore water to the site and generators will initially supply the township with power.
"You will have all the needs out here," Mr King said.
Digging on the open-cut mine, which will be the biggest in South Australia, will begin on October 1 and, by Christmas, 200,000 tonnes of earth and rock will be moved each day . . . and dumped where the current little township of Prominent Hill now stands.
Prominent town to be envy of many
RAISED out of the South Australian desert in a matter of months, Prominent Hill will soon be a town that is the envy of most rural dwellers.
At its peak early next year, during construction of the Oxiana open-cut copper and gold mine, more than 800 people will live in a town that still is just a bunch of drawings.
They will have almost all the facilities you could expect in suburban Adelaide, and many more facilities than are offered in rural townships.
"You will be able to do all the things you could expect to do in the city when out here," Prominent Hill mine manager Graeme King said.
"It will be town in the true sense, even though it is referred to as a mining camp."
The town will include an oval, tennis court, swimming pool, recreation rooms, a gym and walking and cycling tracks.
Each mine worker will have a room with an ensuite and access to cable television.
They will be looked after and fed well, their linen cleaned for them and a choice of at least three main meals each night.
And in what are some tough work conditions in the desert at the heart of South Australia, the workers' spirits will be kept up with access to a bar.
The development of Prominent Hill is moving "phenomenally fast", Mr King said.
In July, there were about 20 to 30 people living in the exploration camp. That has grown to about 140, the camp being expanded to accommodate the extra workers.
By Christmas, 250 people will be at the camp and construction will be well under way 4km away on a new camp to accommodate 800 workers, who will build the mining operations and the permanent town.
Once construction is finished in mid-2008, about 400 workers will maintain Prominent Hill's operations.
"If you can move fast on these developments, you can gain so much," Mr King said.
"You get your costs down and get your revenue coming in faster . . . you do not expose yourself for as long."
Like every town, Prominent Hill needs infrastructure, including water and power supplies. The availability of these essentials is made more difficult because of its isolation.
Pipelines are being laid to bring bore water to the site and generators will initially supply the township with power.
"You will have all the needs out here," Mr King said.
Digging on the open-cut mine, which will be the biggest in South Australia, will begin on October 1 and, by Christmas, 200,000 tonnes of earth and rock will be moved each day . . . and dumped where the current little township of Prominent Hill now stands.
cheers,
Rhino
Rhino
From the Advertiser.
SA mining boom continues
December 15, 2006 07:55am
Article from: AAP
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SOUTH Australia's mineral exploration boom is continuing with investment in it more than doubling over the past year.
Premier Mike Rann said today $171 million was spent in the 12 months to the end of September compared to $77 million over the same period in 2005, an increase of 123 per cent.
Mr Rann said the increase vindicated the Government's work to promote the state's mineral potential.
The increase in spending emphasised the current high level of confidence in the state's minerals sector, he said.
SA mining boom continues
December 15, 2006 07:55am
Article from: AAP
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SOUTH Australia's mineral exploration boom is continuing with investment in it more than doubling over the past year.
Premier Mike Rann said today $171 million was spent in the 12 months to the end of September compared to $77 million over the same period in 2005, an increase of 123 per cent.
Mr Rann said the increase vindicated the Government's work to promote the state's mineral potential.
The increase in spending emphasised the current high level of confidence in the state's minerals sector, he said.
$20bn to mine potential
$20bn to mine potential
CAMERON ENGLAND CHIEF BUSINESS REPORTER
March 24, 2007 12:00am
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SOUTH Australia's resource sector needs a $20 billion infrastructure injection if it is to fulfil its potential over the next 20 years, a study from the South Australian Chamber of Mines and Energy says.
SACOME released the findings of its infrastructure study yesterday, after presenting it to Treasurer Kevin Foley and Mineral Resources Development Minister Paul Holloway on Thursday. SACOME acting chief executive Andrew Blue said the combined expenditure needed for power, water, gas and telecommunication services over the next 20 years added up to $20 billion.
Mr Blue said after being briefed, Mr Foley had recommended the study to State Cabinet.
"We are delighted with the State Government's response to our study," Mr Blue said.
"Mr Foley's recommendation clearly indicates he understands the importance of the resources sector to the growth and prosperity of South Australia.
"In addition to the proposed BHP Billiton Olympic Dam expansion, which is arguably the single biggest private wealth generating opportunity this state has seen, an explosion of exploration activity has resulted in more discoveries and a host of other mining projects are in the pipeline.
"The time frame for meeting the forecast demands is very short, and likely cost increases and time delays through shortfalls in skills, infrastructure and manufacturing may threaten some developments."He said the study was more than just a request for a government handout. "The consultants have put together an outstanding body of work that transcends any simplistic sectoral lobbying exercise, by aggregating resource company demands over five, 10 and 20-year horizons," he said.
"They have then conceptualised the many inter-related infrastructure and regional development challenges and opportunities on the horizon."
Mr Blue said while the resources industry had a history of cycles, booms and busts, "what we are seeing today is a once in a lifetime chance to expand SA's base infrastructure development".
Mr Blue said government oversight and co-ordination of infrastructure development was crucial. As such, State Government agencies such as the Department of Trade and Economic Development and the Department of Primary Industries and Resources South Australia were consulted as part of the study.
CAMERON ENGLAND CHIEF BUSINESS REPORTER
March 24, 2007 12:00am
Article from: Font size: + -
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SOUTH Australia's resource sector needs a $20 billion infrastructure injection if it is to fulfil its potential over the next 20 years, a study from the South Australian Chamber of Mines and Energy says.
SACOME released the findings of its infrastructure study yesterday, after presenting it to Treasurer Kevin Foley and Mineral Resources Development Minister Paul Holloway on Thursday. SACOME acting chief executive Andrew Blue said the combined expenditure needed for power, water, gas and telecommunication services over the next 20 years added up to $20 billion.
Mr Blue said after being briefed, Mr Foley had recommended the study to State Cabinet.
"We are delighted with the State Government's response to our study," Mr Blue said.
"Mr Foley's recommendation clearly indicates he understands the importance of the resources sector to the growth and prosperity of South Australia.
"In addition to the proposed BHP Billiton Olympic Dam expansion, which is arguably the single biggest private wealth generating opportunity this state has seen, an explosion of exploration activity has resulted in more discoveries and a host of other mining projects are in the pipeline.
"The time frame for meeting the forecast demands is very short, and likely cost increases and time delays through shortfalls in skills, infrastructure and manufacturing may threaten some developments."He said the study was more than just a request for a government handout. "The consultants have put together an outstanding body of work that transcends any simplistic sectoral lobbying exercise, by aggregating resource company demands over five, 10 and 20-year horizons," he said.
"They have then conceptualised the many inter-related infrastructure and regional development challenges and opportunities on the horizon."
Mr Blue said while the resources industry had a history of cycles, booms and busts, "what we are seeing today is a once in a lifetime chance to expand SA's base infrastructure development".
Mr Blue said government oversight and co-ordination of infrastructure development was crucial. As such, State Government agencies such as the Department of Trade and Economic Development and the Department of Primary Industries and Resources South Australia were consulted as part of the study.
#article : Resources boom to rescue rust belt
http://www.theaustralian.news.com.au/st ... 43,00.html#
Resources boom to rescue rust belt
* It's comeback time for SA's outback, Andrew Trounson finds
* July 02, 2007
MORE than 160 years ago, major copper discoveries proved the saviour of South Australia, and now history looks set to repeat itself.
The state is gearing up for a massive resources boom, with more than $20 billion in resource-related infrastructure to be built in the next 10 years.
At the apex of it will be an outback hole big enough to swallow Adelaide's city centre - BHP Billiton's proposed $7-billion-plus expansion of its giant Olympic Dam copper and uranium mine at Roxby.
A massive drilling campaign by BHP has yet to find the bottom of what is now believed to be the world's second biggest base metals deposit ever.
The planned expansion will cause a population explosion at Roxby, swelling the town from 4100 people today to about 10,000 by 2015.
Perhaps symbolic of South Australia's rising confidence, the state is believed to be close to sanctioning the removal of the longstanding 15 per cent shareholder cap on its largest resources company, oil and gas giant Santos. The move would make Santos an immediate takeover target, but who needs to worry about retaining corporate offices in Adelaide when there are billions of dollars worth of projects going on in the state's outback?
For years South Australia's potential had been overlooked as explorers shied away from the state's deeply buried and hard to find resources in favour of easier, near-surface targets in Western Australia.
Now, as a result of technological advances, the China-led commodity price boom and state government incentives, the state Australia is set to benefit from major discoveries for decades to come. "Exploration has skyrocketed," Premier Mike Rann told parliament last week.
"We are seeing a mining exploration boom and the prospect of many more mines."
It couldn't be more timely. SA's manufacturing sector is under siege from a soaring dollar, its farmers are beset by drought and its renowned winegrowers are facing a structural grape glut.
"The state was verging on bankruptcy before the copper discoveries of the 1840s and mining is going to save it again," University of SA economics professor Richard Blandy says.
In the early 1840s, the newly created colony of South Australia looked like collapsing in the face of an economic depression. Of the colony's 15,485 settlers, some 2000 were destitute, and of the 1900 houses, 642 were vacant. People were leaving and Britain had stopped subsidising migration to the province.
But in 1845, shepherds in the Lofty Ranges north of Adelaide discovered the spectacularly rich Burra copper deposit which, along with other discoveries, would make South Australia the biggest copper producer in the British Empire.
But by the end of World War I the copper mines were exhausted, leaving wheat farming as the mainstay of the state. Then, in the post-WWII boom, and under the protection of Australia's tariffs walls, South Australia transformed itself into an industrial heartland.
But since the 1970s, and the gradual dismantling of the import tariffs, South Australia has lagged the broader economy, becoming the poor cousin sandwiched between the populous eastern states and resource-blessed Western Australia.
In the past 10 years or so, South Australia's economy has been growing at about 2.75 per cent a year compared with national growth of around 3.25per cent. Now, thanks to the mining boom taking off in the state, Blandy is expecting state economic growth during the next 15 years or more to stay above 4 per cent.
For the next four years, annual growth is set to exceed 5 per cent.
Mining currently accounts for just 2per cent of the economy, but Blandy expects this to grow to 10 per cent in the next 10 years. That is behind Western Australia, where mining accounts for more than 20 per cent of the economy, but it is a huge acceleration for a state whose focus has been manufacturing.
After years in the doldrums, exploration spending in the state is soaring as miners flock to seek mini-versions of Olympic Dam or Oxiana's new $775 million copper and gold mining project at Prominent Hill.
Since the early 1990s, exploration spending in South Australia has mostly flatlined at about $20 to $40million a year, or less than 4 per cent of spending nationally. Part of the problem has been that much of South Australia's prospective mineralogy is covered over by a thick 50m-400m layer of sedimentary rock, making exploration high-risk and costly.
In the past three years, however, there has been a surge in exploration spending and the state now commands almost 15 per cent of national spending. In the 12 months to March, exploration spending more than doubled, rising to $233 million from $110 million the previous year. In the latest quarterly numbers from the Australian Bureau of Statistics, South Australia has overtaken Queensland in exploration spending to be second behind Western Australia.
"It is happening all over again," veteran South Australian geologist and miner John Roberts says.
He was one of the founders of the company that back in the 1970s reopened the old Burra mine to extract the deeper lodes of copper. Roberts would later head up the Australian gold operations of Californian giant Homestake between 1977 and 1993.
Roberts attributes much of South Australia's recent success to the state Government's Plan for Accelerating Exploration (PACE).
Introduced in 2004, the plan has involved the Government in providing funding incentives to explorers as well as commissioning a huge increase in exploration mapping data that it has made available to prospective explorers. Under PACE, the state will spend almost $31 million over seven years.
"That has really pushed South Australia in exploration spending such that we are now coming second to WA," Roberts says.
PACE owed a lot to mining magnate Robert Champion de Crespigny, who helped develop the program as the then-head of the state's Economic Development Board. Now based in London, de Crespigny built his Adelaide-based Normandy Mining into the country's biggest gold miner ahead of it being taken over by US giant Newmont.
Another key factor has been the state's willingness to promote uranium mining in the face of mining bans in key rivals Western Australia, Queensland, and until recently the Northern Territory.
Early next year the Canadian-owned Honeymoon uranium mine will start production, joining Olympic Dam and Heathgate Resources' Beverley uranium mine. The ground is now thick with uranium explorers.
The state attracts 56 per cent of Australia's total uranium exploration spending.
BHP's Olympic Dam expansion is expected to get the go-ahead in 2009 and will be the biggest mining project in the world. The open pit will be more than 3.5km in diameter and 1km deep. Copper production is expected to more than double to 500,000 tonnes a year with a mine life of around 100 years. Uranium production is forecast to treble to 15,000 tonnes.
Given the mine life, BHP could eventually double copper production to 1 million tonnes a year.
In addition to the likes of Olympic Dam and Prominent Hill, South Australia now boasts numerous other major projects.
Steel giant OneSteel has almost completed a $385 million expansion of its iron ore mining operations in the Middleback ranges 100km southeast of its Whyalla steelworks.
In what is symbolic of the changes happening in South Australia, OneSteel's project is aimed at freeing up high-grade iron ore for direct sale and shipment to China, rather than boosting the feed to its Whyalla steelworks. OneSteel expects to export 30 million tonnes of iron ore over the next 10 years, mostly to China.
In the Eucla Basin along the coast in the state's west, mineral sands miner Iluka is sitting on the world's richest zircon deposits - equivalent to about five years of total world consumption of the mineral, which is used in glazing ceramics.
Other projects under way include Terramin's $63 million Angas lead and zinc project and Australian Zircon's $60 million Mindarie mineral sands mine. In the Adelaide Hills, Hillgrove Resources is close to approving the development of its Kanmantoo copper-gold project.
South Australia is also set to be the centre of Australia's emerging geothermal industry, courtesy of hot rocks deep below the Cooper Basin. The likes of Geodynamics, Petratherm and Industry Funds Management are all looking to prove up projects in the state, and in the next five years more than $500 million is expected to be spent by the industry on exploration and demonstration work.
Blandy suspects the average South Australian has yet to appreciate the size and impact of the coming boom. The state, he says, will have to prepare for a substantial population inflow that will swell regional towns and lead to a massive increase in air travel as fly-in/fly-out workers criss-cross the skies between Adelaide and other centres en route to isolated mine sites.
In particular, the three major towns on the upper Spencer Gulf - Port Augusta, Port Pirie and Whyalla - are all set to be big beneficiaries of the boom. The region is well placed to be the engineering and services hub for the isolated mine developments, and BHP's planned desalination plant on the Gulf is expected to create 400 construction jobs.
Whyalla, in particular, is already feeling the tailwinds of the boom. The town is in the grip of the sort of construction bonanza it hasn't seen since the 1960s, with the number of new house approvals in 2006-07 exceeding 100 for the first time in more than 40 years.
In the past five years or so, the price of a decent three-bedroom brick house in Whyalla has soared from about $100,000 to a minimum of $250,000-$300,000.
"I've never seen the place like this before," Whyalla council chief executive Phil Cameron says.
More than $38 million has been ploughed into construction at Whyalla in 2006-07, up from $20.5 million the previous year.
After decades of population decline in the wake of the shipyard closures of the 1970s, people are again moving into the town.
Last year's census recorded a decline since 2001 of just 90 people to 21,417. Back in 1996 the population was 23,620. "We believe that if the census was held today there would be a strong likelihood of a population trend showing regrowth," Cameron says.
The big circuit breaker for the town has been OneSteel's iron ore expansion. OneSteel is currently barging out the iron ore to Cape-size vessels because of the lack of a deepwater port in the Gulf. That is likely to change eventually, as proposals are being aired for a new deepwater port in the region in the next 10-15 years.
The town is also where the giant Caterpillar dumptrucks are being assembled for Oxiana's Prominent Hill project.
The coming mining boom is being mirrored in the state's universities, with the University of Adelaide boasting the country's biggest student faculty of geology students. First-year enrolments have jumped to 250 this year from 190 the previous year, and the university has started a mine engineering course, the 30 places in which were swamped by applicants.
The university's professor of mining geology, Ian Plimer, is himself one of the early boom arrivals, after last year being tempted away from a tenured position at Melbourne University. He says he has been struck by the generally strong community support for mining in the state, compared with NSW and Victoria, where the large city populations have little direct experience of mining.
"Because of its isolation and the smaller population, people here work well together and are co-operative. That is why they are so supportive."
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jimmy_2486
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Re: #article : Resources boom to rescue rust belt
Will this mean alot of big coorperate mining companies setting up HQ in adelaide uz reckon??
I reckon BHP should move here from melbourne as they have alot of activity in this state!
I reckon BHP should move here from melbourne as they have alot of activity in this state!
Re: #article : Resources boom to rescue rust belt
Actually the opposite. If the shareholder cap is lifted from Santos, it will only be a matter of time before they move their HQ to either Sydney or Melbourne.jimmy_2486 wrote:Will this mean alot of big coorperate mining companies setting up HQ in adelaide uz reckon??
I reckon BHP should move here from melbourne as they have alot of activity in this state!
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Bulldozer
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Re: #article : Resources boom to rescue rust belt
Holy crap, ODX will end up being a 3.5x1km hole dug over a century... and they still haven't finished finding the full extent of the deposit!
My brother works at the Challenger gold mine, which was open-cut then underground. I think it's about 1km deep now and they're still drilling around the place to find out the extent of the deposit. Prominent Hill is big and due to start production soon and I hear that some other crowd are looking at building a coal mine and liquefaction plant near Coober Pedy?
I wonder if the ALP will re-admit the member they expelled for crossing the floor to enable Olympic Dam to be established?
My brother works at the Challenger gold mine, which was open-cut then underground. I think it's about 1km deep now and they're still drilling around the place to find out the extent of the deposit. Prominent Hill is big and due to start production soon and I hear that some other crowd are looking at building a coal mine and liquefaction plant near Coober Pedy?
I wonder if the ALP will re-admit the member they expelled for crossing the floor to enable Olympic Dam to be established?
Re: #article : Resources boom to rescue rust belt
http://abc.net.au/news/stories/2007/07/ ... n=business
Rail line boosts resource exports
Posted Thu Jul 5, 2007 7:12pm AEST
More than 800 tonnes of copper gold concentrate will be transported every day to Darwin for shipment to Asia from July next year.
The concentrate will come by train from the Prominent Hill Gold Mine, 650 kilometres north-west of Adelaide.
It will then be unloaded at Darwin's East Arm Port, where it will be shipped to countries including China and the Philippines.
The Northern Territory Chief Minister, Clare Martin, says more than 250,000 tonnes of the concentrate will be shipped every year for the next 15 years.
"The whole point of building the railway line to have a link between Adelaide and Darwin was to have exports going north, apart from domestic coming to Darwin, but also imports as well," she said.
"This grows the Territory economy, it grows jobs, it grows business opportunities," she said.
In October last year, the freight train that will bring the minerals to Darwin ploughed into a truck near Elizabeth River.
But Freight Link's John Fullerton says it is up for the job
"People who use the road, obey those warning signs because trains can't stop in a hurry," he said.
The first shipment will be in July next year.
Re: #article : Resources boom to rescue rust belt
Our boom-time Port
Article from: The Advertiser
NICK HENDERSON, POLITICAL REPORTER
July 06, 2007 11:30pm
PORT Augusta's population is expected to jump by 50 per cent in the next four years as a direct result of the mining boom in the state's north.
The population growth is indicative of what will occur in other regional SA communities situated near mining activity.
Premier Mike Rann said one of the Government's major focuses would be to ensure Spencer Gulf cities capitalise on the development of mines.
"I want to see towns like Peterborough be reinvigorated again," he said.
"We are already seeing it at Whyalla and Port Augusta and I want to see our regions benefit from this."
Mr Rann said businesses from the Spencer Gulf would be invited to attend a trip to Chile this year where SA companies would learn from the positive experiences there.
Major gains have been achieved by regional cities near large mining sites in northern Chile and Mr Rann believes the Government-organised trip would show SA businesses how to capitalise on the boom here.
Port Augusta Council estimates its population will grow by 50 per cent by 2011.
Mr Rann said he was in discussions with the local council to determine what the area's increased infrastructure needs would be.
Most of the infrastructure required by the mining companies would not be subsidised by taxpayers, he said.
Port Augusta city manager John Stephens said the mining boom was creating a renaissance.
"We need to position ourselves so we take full advantage of this growth," he said. "It has been a welcome change given . . . Port Augusta and this region have been through some very difficult times.
"We think people working in mines will want to use Port Augusta as their playground and . . . there are a lot who are already doing that and that will increase further."
Peterborough Mayor Ruth Whittle said the region was already experiencing some growth.
"I don't expect us to be a Whyalla or a Port Augusta but I do expect us to get some spin off from it," she said. "It is . . . exciting."
That is a pretty big increase that would make Port Augusta's population around the 21k mark by 2011, its good too see the Mike Rann wanting too see regional towns benefit from the boom.
I think Mt Gambier will lose its title of being the second biggest city very soon.
Article from: The Advertiser
NICK HENDERSON, POLITICAL REPORTER
July 06, 2007 11:30pm
PORT Augusta's population is expected to jump by 50 per cent in the next four years as a direct result of the mining boom in the state's north.
The population growth is indicative of what will occur in other regional SA communities situated near mining activity.
Premier Mike Rann said one of the Government's major focuses would be to ensure Spencer Gulf cities capitalise on the development of mines.
"I want to see towns like Peterborough be reinvigorated again," he said.
"We are already seeing it at Whyalla and Port Augusta and I want to see our regions benefit from this."
Mr Rann said businesses from the Spencer Gulf would be invited to attend a trip to Chile this year where SA companies would learn from the positive experiences there.
Major gains have been achieved by regional cities near large mining sites in northern Chile and Mr Rann believes the Government-organised trip would show SA businesses how to capitalise on the boom here.
Port Augusta Council estimates its population will grow by 50 per cent by 2011.
Mr Rann said he was in discussions with the local council to determine what the area's increased infrastructure needs would be.
Most of the infrastructure required by the mining companies would not be subsidised by taxpayers, he said.
Port Augusta city manager John Stephens said the mining boom was creating a renaissance.
"We need to position ourselves so we take full advantage of this growth," he said. "It has been a welcome change given . . . Port Augusta and this region have been through some very difficult times.
"We think people working in mines will want to use Port Augusta as their playground and . . . there are a lot who are already doing that and that will increase further."
Peterborough Mayor Ruth Whittle said the region was already experiencing some growth.
"I don't expect us to be a Whyalla or a Port Augusta but I do expect us to get some spin off from it," she said. "It is . . . exciting."
That is a pretty big increase that would make Port Augusta's population around the 21k mark by 2011, its good too see the Mike Rann wanting too see regional towns benefit from the boom.
I think Mt Gambier will lose its title of being the second biggest city very soon.
Re: The Mining Thread
This article on today's AdelaideNow website is fairly big news. It explains why the EIS document still hasn't been released (it was due earlier this year). When that document gets released it will change SA's future forever and will give us a true insight into the project overall. This project really will be massive by the looks. Much bigger than orginally thought and that was already huge. It is looking like it will become the largest mine in the world not just the largest uranium mine.
There's more to Olympic Dam
August 25, 2007 12:15am
BHP Billiton is expected to announce a revised estimate of its resource at Olympic Dam could be 50 per cent greater than previously calculated.
Incoming chief executive Marius Kloppers said yesterday the base-metals deposit was "obviously an enormous ore body".
"It wouldn't surprise me if it turns out to be the second-largest base-metals ore body ever discovered," he said.
"We're still drilling."
A BHP Billiton spokesman told a pipeline industry briefing in Adelaide that calculations were still being done but it could be a 50 per cent increase on previous estimates of the copper, uranium, gold and silver deposit.
Mr Kloppers, who will take over the top job from Chip Goodyear on October 1, acknowledged the schedule for the Olympic Dam expansion had slipped a bit but that it was important to take the time to get it right.
"We are taking a long-term view of the development of this asset and it's important that, as we open up what is probably a 100-year asset, we start with the right configuration," Mr Kloppers said. "The industry has seen an increase in capital costs.
"This project is no different.
"What we are doing is we're looking at a way to develop this asset which is intrinsically more capital-efficient.
"Given this additional work, this work is taking a little bit longer than originally envisaged.
"But . . we remain absolutely confident that Olympic Dam will be the pre-eminent supplier of uranium, underpinning much of the nuclear renaissance that is being experienced as a response to the greenhouse concerns that the world currently is seeking solutions for."
Mr Kloppers said the ore body was complex, the project would require a lot of water and sulphuric acid and there was a lot of overburden to clear.
"We just want to make sure that we do it right, that the technology will work, that the scale-up factors are the right ones, and so on," he said.
"It's going to be there for generations and you're laying the foundation for that."
A revised estimate could be announced at BHP Billiton's AGM in London on October 25.
A potential customer for uranium is India, with the Federal Government moving to open up the trade outside the current international safeguards system.
Mr Kloppers yesterday ruled out selling uranium to India without proper agreements in place.
"We only sell to countries or try and market our product to countries where they've got all of the agreements in place" and there had been no discussions with India. Asked whether BHP was comfortable with the Government's moves, Mr Goodyear said "the Government has very strict control of that and we live within the Government control".
After reporting a $16.8 billion profit this week, BHP Billiton is looking to a long-term future.
It has $85 billion of projects in the pipeline, including 12 expected to come on-stream in the first year of Mr Kloppers' tenure.
Among them are two of the most challenging, and troubling, developments the company has taken on recently – the Ravensthorpe nickel project in Western Australia and the Atlantis oil and gas development in the Gulf of Mexico, both of them over-budget and behind schedule.
There's more to Olympic Dam
August 25, 2007 12:15am
BHP Billiton is expected to announce a revised estimate of its resource at Olympic Dam could be 50 per cent greater than previously calculated.
Incoming chief executive Marius Kloppers said yesterday the base-metals deposit was "obviously an enormous ore body".
"It wouldn't surprise me if it turns out to be the second-largest base-metals ore body ever discovered," he said.
"We're still drilling."
A BHP Billiton spokesman told a pipeline industry briefing in Adelaide that calculations were still being done but it could be a 50 per cent increase on previous estimates of the copper, uranium, gold and silver deposit.
Mr Kloppers, who will take over the top job from Chip Goodyear on October 1, acknowledged the schedule for the Olympic Dam expansion had slipped a bit but that it was important to take the time to get it right.
"We are taking a long-term view of the development of this asset and it's important that, as we open up what is probably a 100-year asset, we start with the right configuration," Mr Kloppers said. "The industry has seen an increase in capital costs.
"This project is no different.
"What we are doing is we're looking at a way to develop this asset which is intrinsically more capital-efficient.
"Given this additional work, this work is taking a little bit longer than originally envisaged.
"But . . we remain absolutely confident that Olympic Dam will be the pre-eminent supplier of uranium, underpinning much of the nuclear renaissance that is being experienced as a response to the greenhouse concerns that the world currently is seeking solutions for."
Mr Kloppers said the ore body was complex, the project would require a lot of water and sulphuric acid and there was a lot of overburden to clear.
"We just want to make sure that we do it right, that the technology will work, that the scale-up factors are the right ones, and so on," he said.
"It's going to be there for generations and you're laying the foundation for that."
A revised estimate could be announced at BHP Billiton's AGM in London on October 25.
A potential customer for uranium is India, with the Federal Government moving to open up the trade outside the current international safeguards system.
Mr Kloppers yesterday ruled out selling uranium to India without proper agreements in place.
"We only sell to countries or try and market our product to countries where they've got all of the agreements in place" and there had been no discussions with India. Asked whether BHP was comfortable with the Government's moves, Mr Goodyear said "the Government has very strict control of that and we live within the Government control".
After reporting a $16.8 billion profit this week, BHP Billiton is looking to a long-term future.
It has $85 billion of projects in the pipeline, including 12 expected to come on-stream in the first year of Mr Kloppers' tenure.
Among them are two of the most challenging, and troubling, developments the company has taken on recently – the Ravensthorpe nickel project in Western Australia and the Atlantis oil and gas development in the Gulf of Mexico, both of them over-budget and behind schedule.
Re: The Mining Thread
Furthermore quotes from an article in The Australian today, titled:
Value-adding is slowing India down, says BHP
Pressed on BHP's plans for Olympic Dam, Mr Kloppers said no final decisions had been taken with a pre-feasibility study still under way.
"When we go ahead there, we will deliver huge value to the state and the community," he said.
Olympic Dam is the world's largest uranium deposit and BHP is looking to treble uranium production and double copper output with expanded production to start ramping up from 2013.
Value-adding is slowing India down, says BHP
Pressed on BHP's plans for Olympic Dam, Mr Kloppers said no final decisions had been taken with a pre-feasibility study still under way.
"When we go ahead there, we will deliver huge value to the state and the community," he said.
Olympic Dam is the world's largest uranium deposit and BHP is looking to treble uranium production and double copper output with expanded production to start ramping up from 2013.
Re: The Mining Thread
I think this is fantastic news. just proves that S.A. is not going into recesion like some corprate demons would like us to belive. This is one more great asset that we have up our sleeve. 20,000 jobs plus, a new township is created along with a new lifestyle for those who are living there. They have not even found the boundry limits to the mine yet. Kevin Foley predicts at least 100 years of mining there. This is a excellent step for S.A. to take on the ladder of our endless success. 
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