Copper and gold miner OZ Minerals Limited (OZL) reported its half year numbers today

CommSec

Copper and gold miner OZ Minerals Limited (OZL) reported its half year numbers today. 2013 was a tough year for OZ as it spent a lot of time and cash preparing its major mine Prominent mine for its production ramp up stage. OZL posted a Net loss after tax (NPAT) of 268.0Million, including write downs of $231.9Million. OZL had already flagged impairment costs of between $200-240Million from waste removal and South wall slip recovery costs at Prominent Hill. OZ Minerals said the ramp up of Prominent Hill in the 2nd half of this year is on track and expects the Carrapatenna mine pre-feasibility study to be completed in 1H14. OZ Minerals is still comfortable with its calendar guidance for cost of US165 to US180cents per pound of copper. 1H13 dividend payment at $0.10 a share - payable on 25th Sept. 2013 Watch here for more: (VIEW LINK)


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