At OZ Minerals we strive to be modern.
We’re guided by our purpose, “Going beyond what’s possible to make lives better”.
We believe that only when we create value for all our stakeholders will we be successful and sustainable.
We own and operate Prominent Hill, a high quality copper-gold mine, and Carrapateena, an iron-oxide–copper–gold (IOCG) underground mine, both located in the highly prospective Gawler Craton in South Australia.
The Carajás East Hub located in Brazil is also part of our portfolio. This Hub comprises the Pedra Branca underground mine, which is the beginning of a potential series of small, high quality copper-gold mines with ore being processed at existing facilities at the nearby, now-depleted Antas mine.
Why invest in OZ Minerals?
We aim to understand what’s important to our Shareholders. We consider their perspectives when making strategic choices.
Our strategy is to develop a portfolio of long life, low-cost copper-focused assets in safe and stable countries. We create growth opportunities through a pipeline of exploration and development projects aimed at building mining provinces.
We maintain a strong balance sheet to support our growth strategy. By safely and consistently meeting operational targets and working ethically, in an environmentally responsible and sustainable way, we aim to achieve consistent top quartile returns and pay sustainable dividends.
Ongoing shareholder support is important to our success, as is investing in creating value for our other stakeholders. In doing so we build a sustainable and resilient business now and for the future.
Summary
Headquarters – Adelaide, Australia
Primary Stock Exchange Listing / Indices
Australia (stock code: OZL)
S&P ASX 100 Index
MSCI World Index within the Australian Standard Index
Issued share capital
As at 8 February 2022
Primary Activities
- Prominent Hill copper-gold mine in South Australia
- Carrapateena copper-gold mine in South Australia
- West Musgrave copper-nickel project in Western Australia
- Carajás East copper-gold hub in the Para state of Brazil
- Exploration activities in Australia and internationally
OZ Minerals' Strategy
OZ Minerals’ strategy is to create value for our shareholders and other stakeholders, by focusing on:
- Global copper
- How we work together
- Partnering
- Investing responsibly
- Being lean and innovative
- Being devolved and agile
Production
| |
2021 |
2020 |
2019 |
2018
|
2017 |
2016 |
2015
|
2014 |
2013
|
2012
|
| Copper |
125,486t |
97,620t |
109,289t |
115,998t |
112,008t |
116,882t
|
130,305t |
92,615t |
73,362t |
101,737t
|
| Gold |
237,263oz |
257,987oz |
128,874oz |
135,647oz |
126,713oz |
118,333oz |
113,028oz |
148,192oz |
128,045oz |
140,746oz |
| Silver |
1,366,810oz |
895,899oz |
630,421oz |
702,703oz |
791,404oz |
842,672oz |
749,349oz |
652,988oz |
613,499oz |
721,998oz |
* Production numbers are for contained metal.
2022 production guidance 127,000 - 149,000 tonnes of copper and 208,000 - 230,000 ounces gold.
View recent production results
Reserves and Resources
View OZ Minerals' Resources and Reserves Statements.
Financial Summary
| A$m |
Full year 31 Dec 2021 |
Full year 31 Dec 2020 |
Full year
31 Dec 2019 |
Full year
31 Dec 2018 |
Full year
31 Dec 2017 |
Full year
31 Dec 2016 |
Full year
31 Dec 2015 |
Full year
31 Dec 2014 |
Full year
31 Dec 2013 |
Full year
31 Dec 2012 |
| Total revenue |
2,095.8 |
1,342.0 |
1,107.0 |
1,117.0 |
1,023.1 |
822.9 |
879.4 |
831.0 |
644.0 |
985.7 |
| Underlying EBITDA1 |
1,162.4 |
606.3 |
462.4 |
540.4 |
539.4 |
373.8 |
434.9 |
341.1 |
115.8 |
353.9
|
| Depreciation and amortisation |
(366.7) |
(283.4) |
(228.9) |
(228.5) |
(218.7) |
(208.7) |
(235.1) |
(296.1) |
(218.5)
|
(174.7) |
| Underlying EBIT1 |
795.7 |
322.9 |
233.5 |
311.9 |
320.7 |
165.1 |
199.8 |
45.0 |
(102.7) |
179.2 |
| Net financing income |
(39.1) |
(27.1) |
(4.9) |
7.1 |
8.7 |
9.0 |
2.9 |
3.6 |
7.0 |
19.9
|
| Income tax benefit / (expense) on underlying (loss) / profit before tax |
(225.9) |
(83.2) |
(64.7) |
(90.5) |
(98.3)
|
(39.8) |
(63.1) |
(18.3) |
33.2 |
(47.1) |
| Underlying NPAT1 |
530.7 |
212.6 |
163.9 |
228.3 |
231.1 |
134.3 |
139.6 |
30.3 |
(62.5) |
152.0 |
| Non underlying items net of tax |
- |
- |
- |
(5.9) |
- |
(26.5) |
(9.4) |
11.3 |
(231.9) |
- |
| NPAT for continuing operations |
530.7 |
212.6 |
163.9 |
228.3 |
231.1 |
107.8 |
130.2 |
41.6 |
(294.4) |
152.0
|
| Gain on discontinued operations, net of tax |
- |
- |
- |
- |
- |
- |
- |
6.9 |
- |
- |
| NPAT |
530.7 |
212.6 |
163.9 |
222.4 |
|
107.8 |
130.2 |
48.5 |
(294.4) |
152.0 |
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 1 Operating Segments, which form part of the Consolidated Financial Statements. Refer Note 1 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 2021 |
31 Dec 2020 |
31 Dec 2019 |
31 Dec 2018 |
31 Dec 2017 |
31 Dec
2016 |
31 Dec
2015 |
31 Dec
2014 |
31
Dec
2013
|
31 Dec
2012* |
| Assets |
|
|
|
|
|
|
|
|
|
|
| Cash |
215.4 |
131.7 |
134.0 |
505.1 |
729.4 |
655.7 |
552.5 |
218.5 |
364.0 |
659.0 |
| Receivables |
257.2 |
173.8 |
106.5 |
98.0 |
152.3 |
77.2 |
98.6 |
127.8 |
127.6 |
171.7 |
| Inventories |
408.7 |
518.7 |
537.6 |
678.4 |
746.9 |
557.1 |
329.8 |
253.4 |
172.8 |
252.3 |
| Other |
26.5 |
18.7 |
14.8 |
26.7 |
3.9 |
19.4 |
4.9 |
6.0 |
4.0 |
5.9 |
| Investments & exploration assets |
305.3 |
249.5 |
148.7 |
135.2 |
18.0 |
303.1 |
284 |
429.0 |
493.7 |
568.2 |
| PP&E and leased equipment |
4,038.8 |
3,663.6 |
2,872.4 |
1,999.5 |
1,175.8 |
1,018.1 |
1,296.6 |
1,374.0 |
1,355.0
|
1,423.4 |
| Total Assets |
5,256.9 |
4,756.0 |
3,814.0 |
3,442.9 |
2826.3 |
2,630.60 |
2,566.4 |
2,408.7 |
2,517.1 |
3,085.6 |
| Liabilities |
|
|
|
|
|
|
|
|
|
|
| Creditors |
242.0 |
197.4 |
176.8 |
152.2 |
97.6 |
77.4 |
65.1 |
76.7
|
133.7 |
108.3 |
| Current tax liability |
55.0 |
19.7 |
5.6 |
- |
101.1 |
69.0 |
- |
- |
- |
- |
| Net deferred tax liability |
356.4 |
288.5 |
270.1 |
264.6 |
47.4 |
63.5 |
102.6 |
43.1 |
30.9 |
162.1 |
| Accruals and provisions |
913.8 |
1,039 |
381.6 |
110.9 |
63.9 |
66.4 |
54.8 |
39.8 |
24.6 |
29.3 |
| Total Liabilities |
1,567.2 |
1,544.6 |
834.1 |
527.7 |
310.0 |
276.3 |
222.5 |
159.6 |
189.2
|
299.7 |
| Net Assets |
3,729.7 |
3,211.4 |
2,979.9 |
2,915.2 |
2516.3 |
2,354.3 |
2,343.9 |
2,249.1 |
2,327.9 |
2,785.9 |
*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.
Related Information