BHP Reports Lower Production at Oly

BHP Reports Lower Production at Olympic Dam During Q3 Global miner BHP reported uranium production of 776 tU3O8 (1.71 million pounds U3O8) for its third quarter ended March 31, down 18 percent from theprevious quarter. The company reported higher uranium sales of 702 tU3O8 (1.55 million pounds U3O8) for the third quarter, 10 percent higher than sales during the previous quarter at 638 tU3O8 (1.41 million pounds U3O8). Total uranium production from BHP’s polymetallic Olympic Dam Mine in South Australia for the last four quarters was 3,637 tU3O8 (8.02 million pounds U3O8), representing a 2 percent decrease from production over the equivalent period last year (Figure 1). Uranium is produced as a by-product to copper production at the Olympic Dam Mine. Material mined during the March quarter fell 18 percent, while ore milled increased slightly by 1 percent compared to last quarter. Average uranium grade was down 3 percent from the December quarter, but was 6 percent higher than the March quarter in 2019. Average copper grade fell by 2 percent from Q4 2019, but was 4 percent higher than the equivalent period in 2018.