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.
  • Customer solutions.
  • Capital management discipline.

Summary

Headquarters – Adelaide, 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 20 January 2015

  • 303,470,022 ordinary shares

Primary Activities


oz strategy diagramx300

 

OZ Minerals' Strategy


OZ Minerals’ strategy is to create value for our shareholders and other stakeholders, with a focus on four areas:

  • Lean business.
  • Multiple assets.
  • Copper core.
  • Customer focus. 

 

 

 


Production

  2010 2011 2012 2013  2014  June YTD 2015 
Prominent Hill
Copper 112,171t 107,744t 101,737t 73,362t 92,615t 64,151t
Gold 196,400oz 160,007oz 140,746oz 128,045oz 148,192oz 57,664oz
Silver 615,835oz 612,903oz 721,998oz 613,499oz 652,988oz 343,482oz

* Production numbers are for contained metal.

Production exceeded 2014 guidance for the year to 92,615 tonnes of copper and 148,192 ounces of gold.

(2014 production guidance 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 Full year
31 Dec 2014
Full year
31 Dec 2013
  Full year
 31 Dec 2012
Full year
31 Dec 2011
Full year
 31 Dec 2010
Total revenue 831.0  644  985.7 1,115.9 1,128.4
Underlying EBITDA1 341.1  115.8  353.9 585.6 585.5
Depreciation and amortisation (296.1) (218.5)  (174.7) (164.2) (152.6)
Underlying EBIT1  45.0 (102.7)  179.2 421.4 432.9
Net financing income 3.6 7.0  19.9 34.1 27.6
Income tax benefit / (expense) on underlying (loss) / profit before tax (18.3) 33.2  (47.1) (132.8) (62.3)
Underlying NPAT1 30.3 (62.5)  152.0 322.7 398.2
Non underlying items onet of tax 11.3 (231.9)  - (57.4) 141.1
NPAT for continuing operations 41.6 (294.4)  152.0 265.3 539.3
Gain on discontinued operations, net of tax 6.9 - 9.2 47.6
NPAT 48.5 (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 31 Dec
2014 
  31 Dec
2013
31 Dec
* 2012
31 Dec
2011
31 Dec
2010
Assets
Cash 218.5 364.0 659.0 886.1 1,334.2
Receivables 127.8 127.6 171.7 86.8 180.9
Inventories 253.4 172.8 252.3 297.1 259.5
Other 6.0 4.0 5.9 7.1 5.3
Current tax asset - 5.1 2.7
Investments & exploration assets 429.0 493.7 568.2 502.0 316.2
PP&E and leased equipment 1,374.0 1,355.0 1,423.4 1,243.4 1,288.1
Total Assets 2,408.7 2,517.1 3,085.6 3,022.5 3,386.9
Liabilities
Creditors 76.7 133.7  108.3 90.5 64.6
Current tax liability - - 16.2 -
Net deferred tax liability 43.1  30.9 162.1 100.2 14.8
Provisions 39.8  24.6 29.3 21.4 16.5
Total Liabilities 159.6 189.2 299.7 228.3 95.9
Net Assets 2,249.1 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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