Following the discovery of the giant Olympic Dam ore deposit in 1975, a realisation developed that there was an important class of mineral deposits not previously appreciated. It became apparent that this class, the Iron Oxide Copper-Gold deposits, included not only Olympic Dam, but also a number of other known deposits. It also became apparent that this was a class that could produce large, high grade prizes, of the order of 0.25 to 1 billion tonnes of around +1% Cu and 0.5 g/t Au. As a consequence this class has been one of the major targets of the exploration industry over the last decade, resulting in the discovery of further giant orebodies in Australia such as Ernest Henry, and Candelaria, Salobo, Sossego and others in South America.