A book by David Upton

What is this book about?

This book by David Upton is about how a small independent Australian mining company discovered and developed the world’s largest mineral deposit deep in the remote South Australian desert, some 560 kilometres north of Adelaide.

The writer describes in detail the fascinating story behind the initial discovery and subsequent development of the Olympic Dam mineral deposit. This mineral deposit is special for a number of reasons, including the immense scale of this valuable mineral resource containing copper, gold and uranium. In addition, it was the first significant find based on the theory that such deposits could be found where no tell-tale surface features are visible.

The Story

Western Mining since the 1950’s had been searching the Australian continent using pioneering theories and technologies for new sources of copper. However, it was not until the early 1970’s did the team at Western Mining focus on the deep north of Southern Australia. In 1975, Western Mining decided to test drill at a number of sites near the Roxby Downs airstrip based on theories developed by Douglas Haynes, one of its staff geologists.

Eventually, it was not until the core samples evaluated by Western Mining’s team of geologists back in Melbourne, did the company realise what they had found. The company had been searching just for copper, but further studies revealed that this deposit had commercial quantities of gold, silver, uranium and other minerals in this immense composite ore body. In fact, estimates suggest it is the fourth largest copper deposit and the largest known single deposit of uranium in the world.

It is not only the discovery of Olympic Dam, which proves fascinating reading, but also the subsequent financial, technical and political issues faced by the then developers Western Mining and BP. The author narrates how the mining company overcame strong public opposition to the mine due to hostility to uranium mining. However, the strong economic case that enabled the mine’s scheme’s investors to win approval from government at both state and federal level.

Eventually, it was 1988 that production began at the underground mine at the Olympic Dam site which operates its own smelter and metals refinery, before its output is exported to major customers, including China. In 2005, output had reached some 9.1 million tonnes, making it already one of Australia’s largest mines. It is not perhaps surprising that BHP Billiton bought Western Mining in 2005 to become the owners of Olympic Dam. Since then BHP has announced plans to expand development of the mine.

Who is this book for?

This book is focused at any potential armchair geologist and investor seeking to experience the thrill of discovery. In fact, policy makers and decision makers throughout the world reading this book should learn some very useful lessons on how to facilitate and manage such vast projects. I found David Upton’s story about the Olympic Dam story a fascinating and entertaining read.

Published 2010

180 Pages

ISBN 978-0-646-54381-9

This book is available by contacting David Upton at his website (www.theolympicdamstory.com )