OZ Minerals is exploring both in its own right and in partnerships with other companies in Australia, Asia and North America.

Asia

Cambodia

OZ Minerals is exploring in joint venture with a local Cambodian company for gold in the Okvau - Oput area in north-east Cambodia where surface sampling, geophysics and early stage drilling has identified a promising trend of gold mineralisation.

Other areas being explored for gold and copper, include Phnom Chi, 100 kilometres west of Okvau and Ou Anlong north-east of Phnom Penh.

China

In China the company is targeting discovery and development of large-scale base metals deposits in partnership with Chinese companies and organisations. Active joint venture programs have been exploring for nickel sulphide deposits in Inner Mongolia and for gold and base metals tenements in the Sichuan and Yunnan Provinces. China wide generative programs continue to assess new opportunities for nickel, copper and zinc. A new joint venture for nickel sulphide has recently been secured in Jilin Province.

Indonesia

Throughout 2008, OZ Minerals assessed numerous opportunities for copper-gold deposits throughout the Indonesian Archipelago. A number of projects were identified and several have been successfully secured under tenement. Surface exploration programs completed to date have outlined several porphyry copper-gold targets for drill testing.

Laos

Laos is a very under-explored country and is considered to offer excellent potential for the discovery of new mineral deposits. OZ Minerals’ primary focus within Laos is the Sepon Mineral District, a highly mineralised 400 square kilometre area that encompasses the Sepon gold and copper operation.

OZ Minerals has also identified several other areas which are considered to be highly prospective for base metals mineralisation and tenement applications have been submitted.

Thailand

OZ Minerals is pursuing niche opportunities for bulk commodities in Thailand including iron ore, potash and phosphate. Nine tenements have been secured for iron-ore exploration in south-east Thailand close to existing road and port infrastructure. Surface exploration including geophysical surveys has been completed along with initial drilling. Further drilling of priority targets is planned and applications have been submitted for additional tenements.

Australia

OZ Minerals has been actively exploring around the Century, Golden Grove, Rosebery, Prominent Hill and Avebury mines and is also undertaking regional exploration activities throughout other areas of Australia.

The company holds interests and manages exploration over 4,000 square kilometres of the Lawn Hill Platform in the Mount Isa Inlier in northwest Queensland.

Exploration is also carried out in joint venture with other companies in Australia including the Wagga Tank copper project in New South Wales. Other projects are currently being divested, including the Menninnie Dam base metals project in South Australia, and gold and nickel Wiluna tenements in Western Australia.

Canada

As well as well as exploration at the Nunavut development projects mentioned previously, OZ Minerals’ generative activities have focussed primarily on project generation initiatives for nickel-copper-platinum group elemnet and polymetallic zinc deposits together with its alliance partners.

Africa-Europe

Tunisia

OZ Minerals, in joint venture with Albidon Resources, is exploring for zinc deposits over the 4,992 square kilometre Nefza and Haffouz concessions in northern and central Tunisia. OZ Minerals may earn up to 70 per cent of the project from Albidon through staged expenditure and a series of cash payments. Drilling in 2008 intersected encouraging near surface zinc and lead mineralisation at two prospects and further evaluation of these and other newly generated targets is required.

Sweden

Following a strategic review of the exploration portfolio a decision was taken late in 2008 to exit projects in Sweden.