Our Uranium business currently comprises the world-class uranium and copper deposit at Olympic Dam in South Australia. In addition to copper and uranium Olympic Dam also contains significant quantities of gold and silver. Olympic Dam is the world's largest uranium deposit and fourth largest copper deposit. At Olympic Dam we mine, process, smelt and refine the ore to final products. Specifically, we deliver uranium oxide concentrate to utility customers exclusively for the generation of electricity in civil nuclear reactors.
Olympic Dam’s copper is sold to customers in Europe, Australia and Asia under contracts which are negotiated annually. The bulk of uranium production is sold under long-term, fixed priced sales contracts with overseas electricity generating facilities.
Gold and silver produced at Olympic Dam are sold to the Perth Mint, Australia.