OZ Minerals Company Summary

OZ Minerals is a significant producer of copper and gold from the Prominent Hill open cut mine located in South Australia. The mine commenced production in the first quarter of 2009, with annual life of mine average production of around 100,000 tonnes copper and 100,000 ounces gold.
The company has a substantial cash balance and very little debt. OZ Minerals was formed in 2008 through the merger of Oxiana and Zinifex and in mid 2009 sold a number of assets to China Minmetals.

Summary

Headquarters – Melbourne, Australia


Stock Exchange listings

  • Australia (stock code: OZL)
  • US Level 1 ADR code – OXFLY

Indices

  • S&P ASX 100 Index
  • MSCI World Index within the Australian Standard Index


Issued share capital

As at  15 July 2010

  • 3121,339,800 ordinary shares
  • 6,160,796 unlisted options
  • US$105,000,000 of convertible bonds outstanding which represents 114,379,085 shares to be issued.

Minmetals Scheme Implementation Agreement

In mid June 2009, OZ Minerals shareholders approved the sale of a number of OZ Minerals assets to China Minmetals for US$1,354m in cash.

For more information on the Offer please see the Minmetals Offer page .


OZ Minerals Merger Information

OZ Minerals was formed in 2008 through a merger of Oxiana Limited and Zinifex Limited. Below is some information to assist with tax purposes.

Merger implementation date: 1 July 2008

Share ratio:
Zinifex shareholders received 3.1931 Oxiana shares for each 1 Zinifex share

VWAP for Zinfiex shareholders:
$2.5624.(1 July 2008)

For more information please refer to ASX Release announcement: Market value of Oxiana shares for Zinifex shareholders – 4 July 2008


Primary Activities

  • Prominent Hill copper-gold mine in South Australia which began first production in February 2009.
  • A range of equity investments in listed resource companies, the main one of which is Sandfire Resources.
  • An early stage exploration program in Cambodia focussed on gold.

Production

Production for 2010 is planned to be 100,000 tonnes to 110,000 tonnes of copper and 140,000 ounces to 150,000 ounces of gold contained in concentrates.


JUN YTD'10
Prominent Hill
Copper 60,145t
Gold 90,821oz
Silver 361,767oz

* Production numbers are for contained metal.

View recent production results


Reserves and Resources

OZ Minerals released the Prominent Hill Western Copper Mineral Resources and Ore Reserves Statement as at 3 May 2010. Read a copy of this announcement . (PDF 465kb)


Financial information

 
Financial summary 

Six months to 30 June 2010

($A millions)


Prominent Hill Revenue 589.9
Prominent Hill EBITDA 391.2
Underlying net profit
(excl, reversal of impairment & discontinued operations)
230.5
Reversal of Impairment (less tax impact) 141.1
Discontinued operations after tax 34.1
Group NPAT 405.7
Dividend (unfranked) 3 cps


OZ Minerals balance sheet

Six months to 30 June 2010 ($A millions)

Consolidated
Jun '10 

Consolidated
Dec '09

Assets

 

Cash

1,432.5 

1,076.2 

Receivables

169.7 

137.2 

Inventories 

186.4 

206.0 

Others

78.1 

174.5 

Property plant & equipment           

1,354.3

1,203.3 

Total Assets 

3,221.0 

2,797.2 

Liabilities

Creditors

59.6 

107.2 

Interest bearing liabilities

118.2 

110.8 

Net deferred tax liability

63.7

Provisions

11.2 

14.5 

Total Liabilities

252.7

232.5

Net Assets 

2,968.3 

2,564.7 


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