Part 5/16:
Australia plays a pivotal role in the global copper supply. Holding the world's third-largest reserves, Australia ranks eighth in copper production, with major mining ventures such as BHP’s Olympic Dam, located in South Australia, at the forefront of expansion considerations. Olympic Dam is particularly significant because it is one of the largest deposits globally, containing copper, gold, silver, and uranium.
However, developing copper projects in Australia faces challenges. Unlike open-pit mining in countries like Chile, most of Australia's copper deposits lie deep underground—often 1-2 kilometers—and require energy-intensive, lengthy processing involving crushing, smelting, and refining. These factors compound the costs and complexity of expanding supply amid mounting global demand.