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Oz extends Avanco offer, gains majority share

By: Esmarie Swanepoel     13th June 2018 Copper miner Oz Minerals has extended its takeover period for fellow-listed Avanco Resources to July 6, after gaining a 73.9% foothold in the takeover target. Oz Minerals said on Wednesday that acceptances and acceptance instructions have been received from all of Avanco’s major shareholders,... 

Oz declares Avanco offer unconditional

By: Esmarie Swanepoel     7th June 2018 Copper/gold miner Oz Minerals has declared its takeover offer for fellow listed Avanco Resources unconditional. Oz Minerals is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418-million. 

Oz extends Avanco takeover

By: Esmarie Swanepoel     24th May 2018 Copper/gold miner Oz Minerals has extended its takeover offer period for fellow-listed Avanco Resources until June 14. Oz Minerals is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418-million. 

Avanco a step closer to Pedra Branca

By: Esmarie Swanepoel     16th May 2018 Takeover target Avanco is one step closer to the grant of a provisional environmental licence for its Pedra Branca copper project, in Brazil, following a successful public hearing. The company on Wednesday reported that no objections were recorded at the public hearing, which indicated a strong... 

Oz offer gains traction with Avanco shareholders

By: Esmarie Swanepoel     11th May 2018 The major shareholder in takeover target Avanco Resources has accepted the recommended takeover offer from ASX-listed Oz Minerals. The directors of Avanco earlier backed the off-market A$418-million cash and script offer from Oz Minerals, which was offering Avanco shareholders 8.5c in cash and... 

Avanco directors accept Oz offer

By: Esmarie Swanepoel     2nd May 2018 The directors of takeover target Avanco have accepted an off-market cash and scrip takeover offer from fellow copper miner Oz Minerals. Oz Minerals in March launched a A$418-million offer for the Brazil-focused junior, offering 8.5c in cash and 0.009 of its own shares for every Avanco share held. 

Downer EDI awarded A$660m Carrapateena contract

By: Esmarie Swanepoel     17th April 2018 Copper/gold miner Oz Minerals has awarded a A$660-million underground mining services contract to project house Downer EDI for the Carrapateena underground mine, in South Australia. The six-and-a-half year contract will comprise all underground mining activity, including site setup and... 

Oz Minerals makes A$418m bid for Brazil-focused Avanco

By: Esmarie Swanepoel     27th March 2018 The directors of ASX-listed copper junior Avanco have urged shareholders to accept a A$418-million cash and scrip offer from copper/gold miner Oz Minerals. Oz Minerals on Tuesday launched its takeover offer of 8.5c in cash and 0.009 shares for every Avanco share held. The offer price valued... 

New power line to keep OZ Minerals connected

By: Megan van Wyngaardt     9th March 2018 Copper/gold miner OZ Minerals on Friday unveiled its power strategy, which includes a new high voltage power transmission line to secure electricity for the Prominent Hill and Carrapateena mines, as well as any future developments in South Australia. “Infrastructure in the region does not support... 

New life for Ausroc as it lists as Woomera Mining

By: Mariaan Webb     6th March 2018 Mining shell Ausroc Metals has a new lease on life with the reverse takeover of Woomera Exploration and relisting on the ASX on Monday. Woomera has successfully raised A$4.07-million at A$0.20 a share with its listing. 

Strong copper price sees OZ Minerals double net profit

By: Dylan Slater     22nd February 2018 South Australia-focused miner OZ Minerals has delivered a strong operational performance in 2017, which enabled the miner to exploit improved copper prices and deliver a 114% net profit after tax increase to $231-million 

Cassinni secures option on early stage base metals project

By: Creamer Media Reporter      29th January 2018 Perth-based base and precious metals explorer Cassini Resources has entered into an option agreement to earn into the Yarawindah Brook project, located in agricultural land near New Norcia, Western Australia. The option agreement will see the company earn into the early stage nickel/copper/cobalt... 

OZ Minerals enters into Eastern Musgrave exploration JV

By: Creamer Media Reporter      29th January 2018 Copper/gold miner OZ Minerals has committed to an exploration joint venture (JV) in the Eastern Musgrave province of South Australia, targeting magmatic nickel and copper sulphide systems. The company announced on Monday that it had entered into an earn-in agreement with unlisted Australian... 

OZ takes advantage of higher copper price, lifts 2018 guidance

By: Megan van Wyngaardt     17th January 2018 ASX-listed OZ Minerals has marked 2017 as a year of strong production and financial performance, with the miner reporting on Wednesday that it had achieved its copper production guidance for the third consecutive year, and that it had exceeded its gold guidance. Noting that it had made... 

Downer, Ausenco awarded $312m Carrapateena contract

By: Mariaan Webb     11th December 2017 South Australian copper and gold miner Oz Minerals has awarded engineering groups Downer EDI and Ausenco a $312-million contract at the Carrapateena mine. The companies have been contracted for the engineering, procurement and construction of a new minerals processing plant, including non-process... 

Evolution’s Klein expresses concern as young Australians shun mining as career option

By: Mariaan Webb     23rd November 2017 The mining industry has to pull together to make it an attractive career option for young people if the industry is to sustain itself, Evolution Mining chairperson Jake Klein said on Thursday, expressing concern about the low number of mining engineering enrolments and graduates at two Australian... 

Underground ore reserves extend Prominent Hill life to 2029

By: Mia Breytenbach     21st November 2017 An 18% increase in the underground ore reserve at Prominent Hill could extend the mine’s life to 2029, copper/gold miner Oz Minerals reported on Tuesday. The increase in underground ore reserves to 39-million tonnes at 1.7% copper equivalent has enabled an expected underground production rate of... 

Scoping study confirms West Musgrave potential – Oz Minerals

By: Esmarie Swanepoel     14th November 2017 ASX-listed Oz Minerals has committed A$19-million to proceed to the next stage of earn-in at the West Musgrave nickel/copper project, in Western Australia. To earn a 51% interest from fellow-listed Cassini Resources, Oz Minerals will proceed to a prefeasibility study (PFS) following a positive... 

Prominent Hill openpit closure brought forward

By: Esmarie Swanepoel     16th October 2017 Copper/gold miner Oz Minerals will bring forward the closure of its openpit operations at the Prominent Hill mine, in South Australia, from the mid-2018 to the first quarter of the year. About A$10-million will be saved through the accelerated plan, the company reported on Monday, as it released... 

Prominent Hill mine, Australia

By: Thabi Madiba     6th October 2017 A copper concentrate containing gold and silver mine located about 650 km north-west of Adelaide and 130 km south-east of Coober Pedy in South Australia. 

Golden Grove mine, Australia

By: Thabi Madiba     29th September 2017 A base metals mine in Western Australia, about 450 km north-east of Perth and 280 km east of Geraldton. 

Research consortium to spend A$14.6m on South Australian copper

By: Esmarie Swanepoel     18th September 2017 he South Australian government will spend A$4-million over the next four years on a research consortium, led by the University of Adelaide, to develop advanced technologies to boost copper production and to develop a globally competitive mining technology services sector. The University of... 

Oz Minerals says BHP to end power connection agreement

By: Esmarie Swanepoel     31st August 2017 Copper miner Oz Minerals has been forced to investigate alternative power solutions for its Prominent Hill mine, in South Australia, after mining major BHP terminated a connection and access agreement. Under the existing agreement, Oz Minerals’ Prominent Hill mine shares BHP’s power line from... 

Oz Minerals and Minotaur continue exploration

By: Esmarie Swanepoel     2nd August 2017 ASX-listed junior explorer Minotaur Exploration and fellow-listed Oz Minerals have jointly launched new ground electromagnetic (EM) geophysical surveys near the Prominent Hill copper/gold mine, in South Australia. The EM survey will assess sections of the Skylark shear zone across areas ranging... 

Strong production, lower costs see Oz tracking towards FY guidance

By: Esmarie Swanepoel     25th July 2017 Copper/gold producer Oz Minerals has reported an increase in production during the three months to June, compared with the previous quarter. Copper production increased from 25 079 t in the March quarter to 28 163 t in the June quarter. Gold production increased from 26 135 oz to 32 136 oz in... 

‘Strong interest’ in Avrupa’s Iberian Pyrite Belt project

By: Mariaan Webb     13th July 2017 Having recently recovered full ownership of the Alvalade copper/lead/zinc project in the Iberian Pyrite Belt of southern Portugal, exploration and development company Avrupa has said it is open to finding new partners for the project. The company has assembled a data set for potential partners... 

Oz hikes Carrapateena budget to A$90m

By: Esmarie Swanepoel     21st April 2017 Copper and gold miner Oz Minerals has further cemented its plans for the Carrapateena copper/gold project, in Western Australia, increasing the project’s current budget to A$90-million. At the end of March, some A$53-million had already been spent, with a further A$37-million to be spent on... 

Oz goes on the hunt in Mexico

By: Esmarie Swanepoel     19th April 2017 Copper-gold miner Oz Minerals has entered into a new exploration agreement in Southern Mexico, targeting three newly identified high base metal prospects. “The sites we are targeting have potential for shallow, high-value per tonne, volcanic-hosted massive sulphide (VHMS) deposits. VHMS deposits... 

Oz Minerals hunts for copper in Portugal

By: Esmarie Swanepoel     10th April 2017 Copper/gold miner Oz Minerals has inked an earn-in agreement with TSX-V-listed Avrupa Minerals over its Alvito copper/gold project, in Portugal. Under the agreement, Oz Minerals can earn a 51% interest in the project through a minimum spend of A$1-million on exploration in the first year of the... 

Cassini hopes to cash in on cobalt highs

By: Esmarie Swanepoel     22nd March 2017 Junior Cassini Resources has told shareholders that an updated scoping study on its West Musgrave joint venture (JV), in Western Australia, will take the rising cobalt prices into consideration. Responding to shareholder queries, Cassini on Wednesday said the company had initiated a review of the... 

Oz profits fall as blackout reduces output

By: Esmarie Swanepoel     23rd February 2017 Copper-gold miner Oz Minerals has reported a fall in underlying net profit for the full year to December, compared with the previous corresponding period, as revenue fell. Underlying net profit reached A$134-million, compared with A$140-million for 2015. 

Oz Minerals lifts copper production forecast

By: Esmarie Swanepoel     30th January 2017 Copper/gold miner Oz Minerals has flagged a 30 000 t increase in copper production over the next two years, but gold production is will be lower than previously thought. The miner on Monday maintained its copper output guidance for 2017 at between 105 000 t and 115 000 t, but increased its... 

Carrapateena drilling proves the point

By: Esmarie Swanepoel     9th December 2016 A 2016 drilling programme at the Carrapateena copper/gold project, in South Australia, has increased Oz Minerals’ confidence in the project. The drilling programme resulted in an updated mineral resource estimate of 134-million tonnes, grading 1.5% copper, 0.6 g/t gold and 6.5 g/t silver, with... 

South Australia storm wipes out Prominent Hill power

By: Esmarie Swanepoel     29th September 2016 Copper/gold miner Oz Minerals has suspended production at its Prominent Hill mine, in South Australia, following severe state-wide storms, which resulted in power interruptions. The entire state of South Australia suffered a black out on Wednesday afternoon as the region faced one of the most... 

Oz abandons Jamaica plans

By: Esmarie Swanepoel     22nd September 2016 Metals miner Oz Minerals has withdrawn from its Jamaica joint venture (JV), transferring its interest in the exploration assets to Canada-based Carube Copper Corporation. “After a comprehensive review of exploration results, we determined that while copper porphyry style mineralisation was... 

Oz Minerals confident of strong cash flows for several years – CEO

By: Mariaan Webb     10th August 2016 Copper and gold miner Oz Minerals is confident of strong cash flows for the remainder of 2016 and over the “next several years” from its Prominent Hill mine, in South Australia, said MD and CEO Andrew Cole on Wednesday. The mine, which produced 58 368 t of copper and 57 662 oz of gold in... 

Prominent Hill bounces back, Oz Minerals to meet FY guidance

By: Mariaan Webb     22nd July 2016 South Australian copper and gold miner Oz Minerals has maintained its full-year production guidance, despite losing about 10% of its plant availability in the June quarter owing to unplanned repairs. The Prominent Hill mine produced 27 350 t of copper in concentrate and 30 099 oz of gold in... 

Court approves Oz Minerals class action settlement

By: Mariaan Webb     18th July 2016 The Federal Court has approved the settlement agreement between Adelaide-based miner Oz Minerals and ACA Lawyers, on behalf of former Zinifex shareholders. “As a result of the court approval, the class action against Oz Minerals has been dismissed without admission of liability by the company,”... 

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