BHP to invest $2.46bn to extend life of Chilean mine

BHP has approved capital expenditure of $2.46-billion for the Spence Growth Option (SGO) at the Spence opencut copper mine, in northern Chile, which will extend the mine life by more than 50 years.   CEO Andrew Mackenzie on Thursday said the SGO project supports BHP's strategy to deliver near-term, valuable copper production. “Execution of the SGO will create long-term value for shareholders in one of our preferred commodities. The project significantly extends the life of our Spence operation and unlocks the potential of the large, quality resource."