Latest Olympic Dam News

BHP has held its FY27 production and unit-cost guidance despite a 19% year-on-year fall in first-quarter copper production, with stronger iron ore and coal output providing some balance. The mining giant also reported a 10.73 billion tonne Olympic Dam block cave Mineral Resource, although the new resource remains far from an Ore Reserve or approved mine plan.

Boom Logistics reported a 38% rise in operating net profit after tax to $12.8 million on 2% revenue growth to $271 million, underpinned by contract wins and disciplined capital management.

BHP Group Limited posted robust FY2026 results with a 15% revenue increase, record copper production contributing over half of underlying EBITDA, and a total fully franked dividend of 172 US cents per share. The company advances growth projects, including the Jansen potash mine, while managing legacy Samarco liabilities and pursuing climate targets.

AusQuest has resumed a significant diamond drilling campaign at its Coober Pedy IOCG project in South Australia, aiming to test high-priority geophysical and geochemical targets within the Olympic Dam province. The program is expected to take four weeks, with assay results due about a month later.

Lincoln Minerals has confirmed ongoing mineralisation at its Minbrie Copper Project’s Eagle Ridge prospect through air core drilling, setting the stage for a targeted diamond drilling campaign later this year.

Tasman Resources (ASX:TAS) is gearing up for a significant ramp-up in drilling activity across its Lake Torrens and Parkinson Dam projects, with Fortescue (ASX:FMG) set to drill two maiden holes at the Titan West IOCG target starting late August 2026. Meanwhile, Tasman plans up to twenty new drill holes at Parkinson Dam targeting high-priority epithermal and hydrothermal prospects.

BHP delivered record iron ore volumes and stable copper production of around 2 million tonnes in FY26, underpinned by disciplined cost control and a robust growth pipeline including the Ministers North project.

D3 Energy has secured independent certification of maiden prospective resources for helium, hydrogen, and methane in its South Australian PEL121 permit, establishing a significant new critical gases footprint.

Sabre Resources has secured $2 million in a placement to fund drilling across its newly acquired 4,000km2 copper and gold projects near Tennant Creek, targeting high-potential IOCG and gold mineralisation.

Taiton Resources has issued nearly 1.8 million shares and close to 900,000 options to a sophisticated investor, part of an ongoing placement raising $125,000 so far. Additional shares and options will follow as funds come in.

Boom Logistics has locked in a five-year extension with BHP at Olympic Dam, underpinning $40 million in annual revenue and reinforcing its long-term partnership strategy.

AusQuest has paused its maiden drilling at the Coober Pedy IOCG project after encountering difficult sand cover, with plans to resume in Q3 2026 using a new drilling method and contractor. Assay results from the limited completed holes are due by the end of July.