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Oz Minerals Ltd OZMLF

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Company Profile

Business Description

Oz Minerals is a midtier copper/gold producer. Prominent Hill produced about 100,000 tonnes of copper in 2020 with cash costs well below the industry average. The mine is a very small contributor to total global refined output of about 24 million tonnes in 2020. Finite reserves are a challenge, but management has extended life at Prominent Hill, albeit at a lower production rate. Life extension comes with development of the nearby Carrapateena mine, which started in 2020. Carrapateena should initially ramp up to produce at about 70,000 tonnes a year before expanding to just over 110,000 a year from around 2028. The acquisition of Brazil-based Avanco Resources adds volumes but the scale is smaller than the Australian assets, costs are higher and growth is likely to be incremental.

2 Hamra Drive, Adelaide Airport
Adelaide, SA, 5950, Australia
T +61 882296600
Sector Basic Materials
Industry Copper
Most Recent Earnings
Fiscal Year End Dec 31, 2020
Stock Type
Employees 1,128