OZ Minerals Company Summary

 

OZ Minerals is an Australian based mining company with a focus on copper. The Company owns and operates the high quality Prominent Hill copper-gold mine and the Carrapateena advanced exploration copper-gold project, both situated in South Australia.
The company has a substantial cash balance and is debt free.

Why invest in OZ Minerals?

  • Copper focus.
  • Achieving consistent excellence in performance.
  • Building a project pipeline.
  • Investment in exploration.
  • Capital management discipline.

Summary

Headquarters – Melbourne, Australia


Primary Stock Exchange Listing / Indices

  • Australia (stock code: OZL)
  • S&P ASX 200 Index
  • MSCI World Index within the Australian Standard Index

Issued share capital

As at 14 July 2014

  • 303,470,022 ordinary shares

Primary Activities


Strategy Pillars

OZ Minerals' Strategy

OZ Minerals’ strategy is designed to achieve superior shareholder returns based upon a foundation built on Governance and Zero Harm by Choice with the following five key elements.

  • Focus on copper.
  • Maximise potential of assets.
  • Build a project pipeline.
  • Invest in exploration.
  • Exercise disciplined capital management.

 

 


Production

  2010 2011 2012 2013  June YTD 2014 
Prominent Hill
Copper 112,171t 107,744t 101,737t 73,362t 40,363t
Gold 196,400oz 160,007oz 140,746oz 128,045oz 64,528oz
Silver 615,835oz 612,903oz 721,998oz 613,499oz 289,173oz

* Production numbers are for contained metal.

Production for 2014 full year is predicted to be 85,000 tonnes to 90,000 tonnes copper and 130,000 ounces to 140,000 ounces gold. 

View recent production results

 


Reserves and Resources

Click here to view OZ Minerals Resources and Reserves Statements.


Financial information

Financial summary

A$m Half year
30 Jun 2014
Full year
31 Dec 2013
  Full year
 31 Dec 2012
Full year
31 Dec 2011
Full year
 31 Dec 2010
Total revenue 351.1  644  985.7 1,115.9 1,128.4
Underlying EBITDA1 122.3  115.8  353.9 585.6 585.5
Depreciation and amortisation (139.5) (218.5)  (174.7) (164.2) (152.6)
Underlying EBIT1  (17.2) (102.7)  179.2 421.4 432.9
Net financing income 0.8 7.0  19.9 34.1 27.6
Income tax benefit / (expense) on underlying (loss) / profit before tax 2.1 33.2  (47.1) (132.8) (62.3)
Underlying NPAT1  (14.3) (62.5)  152.0 322.7 398.2
Litigation settlement expense, net of tax - - (42.2) -
(Impairment of assets)/reversal, net of tax - (231.9)  - (15.2) 141.1
NPAT (for continuing operations) (14.3) (294.4)  152.0 265.3 539.3
Gain on discontinued operations, net of tax 6.9 - 9.2 47.6
NPAT  (7.4) (294.4)  152.0 274.5 586.9

Non-IFRS measures

OZ Minerals financial results are reported under International Financial Reporting Standards (IFRS). This ASX Release includes certain non-IFRS measures including Underlying EBITDA, Underlying EBIT, Underlying EBT and Underlying NPAT. These measures are presented to enable understanding of the underlying performance of the Consolidated Entity without the impact of non-trading items such as litigation settlement expense and impairment of assets. Non-IFRS measures have not been subject to audit or review. Underlying EBITDA, Underlying EBIT, Underlying EBT and Underlying NPAT are included in Note 3 Operating Segments, which form part of the Consolidated Financial Statements. Refer Note 3 Operating Segments to the Consolidated Financial Statements for further details.

1The following explain the non-IFRS measures used in the table above.

Underlying EBITDA Profit before net financing income and income tax from continuing operations before depreciation and amortisation, impairment/impairment reversal, and litigation settlement expense.
Underlying EBIT Profit before net financing income and income tax from continuing operations before impairment/impairment reversal, and litigation settlement expense.
Underlying NPAT Profit from continuing operations before impairment/impairment reversal, and litigation settlement expense.

OZ Minerals balance sheet - summary

A$M Consolidated 30 June
2014 
  31 Dec
2013
31 Dec
* 2012
31 Dec
2011
31 Dec
2010
Assets
Cash 154.9 364.0 659.0 886.1 1,334.2
Receivables 162.8 127.6 171.7 86.8 180.9
Inventories 235.2 172.8 252.3 297.1 259.5
Other 6.2 4.0 5.9 7.1 5.3
Current tax asset - 5.1 2.7
Investments & exploration assets 481.1 493.7 568.2 502.0 316.2
PP&E and leased equipment 1,383.7 1,355.0 1,423.4 1,243.4 1,288.1
Total Assets 2,423.9 2,517.1 3,085.6 3,022.5 3,386.9
Liabilities
Creditors 95.2 133.7  108.3 90.5 64.6
Current tax liability - - 16.2 -
Net deferred tax liability 22.7  30.9 162.1 100.2 14.8
Provisions 26.3  24.6 29.3 21.4 16.5
Total Liabilities 144.2 189.2 299.7 228.3 95.9
Net Assets 2,279.7 2,327.9  2,785.9 2,794.2 3,291.0

*Comparative Information has been restated in accordance with accounting requirements on application of AASB Interpretation 20 Stripping Costs in the Production Phase of a Surface Mine, which impacts the treatment of waste stripping costs.

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