The Copper Top is about a mile from campus.
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In 2001, the top 50 probable copper mine projects totaled more than 7 million tons of new production.
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The resulting firm would have been a top producer of copper and nickel, two of the most lucrative metals of late, but also among the most volatile.
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Olympic Dam is also the fourth-largest copper resource globally, and among the top 10 gold deposits.
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Copper is down 28% from its February top.
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Since BHP already runs the world's biggest copper mine at Escondida in Chile, the purchase gives it two of the top four.
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