✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Repairs underway to restore power to Olympic Dam mine -power company

Published 05/10/2016, 03:11 pm
Updated 05/10/2016, 03:20 pm
© Reuters.  Repairs underway to restore power to Olympic Dam mine -power company
BHP
-
BHPB
-
HG
-

SYDNEY, Oct 5 (Reuters) - Repairs to transmission lines damaged in a freak storm last week that would restore power to BHP Billiton's BHP.AX BLT.L Olympic Dam copper mine could be completed by early next week, power supplier Electranet said on Wednesday.

Olympic Dam remains on care and maintenance, said a BHP spokesman, who could not say when production might resume. The storm blacked out all of South Australia state on Sept. 28. is losing an average of 567 tonnes of copper production at a cost of $2.7 million a day, based on last year's output of 203,000 tonnes and current metals prices of around $4,800 a tonne.

"If all goes well and things like weather, site access and soil conditions don't slow or stop us, we hope to have one of the damaged circuits back up by the end of the weekend and energised soon after. Another circuit will follow a few days later," ElectraNet's Executive Manager Network Services, Simon Emms said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.