Managing Risk In The Minerals Industry: The BHP Copper Experience "Sandwiches, Society, And The Sands Of Time"

BHP Copper has grown, in just over six years, from a minor participant to the world's largest privately owned copper producer. BHP Copper's major asset is the world's largest copper mine -Escondida in Northern Chile. Ten years ago investing in Chile was considered high risk. Today, Escondida represents an investment of approximately US$2 billion. Reward is the result of managed risk and Escondida is a clear demonstration of both. The Ok Tedi copper and gold mine in Papua New Guinea represents a Rubicon of risk and a retrospective on reward in a developing country on the doorstep of a developed one. The story of these two mines encapsulates risk in the mining industry.