BHP Billiton (ASX: BHP) found a significant amount of copper at Succoth, an isolated outback in West Australia. The discovery is sufficient to open the area for more resource development.
Reports said that the drilling yielded a return of 200 metres of mineralization at a grade of 1.3 per cent copper. It is similar to other copper discoveries like that at Prominent Hill and Carapateena in South Australia.
An employee checks a copper hose at the Sociedade Paulista de Tubos Flexiveis (SPTF) metallurgical company which manufactures flexible metal hoses, in Sao Paulo April 20, 2012.
The area, located to the north-northeast of BHP's low-grade Babel-Nebo nickel-copper find, remains undeveloped since 2000 when it was first explored by WMC Resources.
Although the results are under BHP's internal size thresholds that would boost the discovery to higher priority, it is still under assessment as part of the mining giant's broader project studies in the West Musgrave region.
In October 2012, analysts said copper prices are expected to remain stable in 2013 amid sluggish demand for the mineral. Copper closed on Wednesday in London at $7,584.
BHP also discovered in February high-grade nickel at the Venus prospect, near its Perseverance mine at Leinter, Western Australia.
Two years ago, BHP invested over $500 million in Escondida mine in Chile, the world's largest mine.
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