Name and Location
Carrapateena copper/gold project, Australia.

Client
OZ Minerals.

Project Description
The Carrapateena project prefeasibility study (PFS) demonstrates that the project is technically and financially viable, with a risk and opportunity profile that is competitive with, or better than, other global long-life copper assets at a similar stage of development.

The PFS indicates that block caving is technically feasible.

The mine will produce a high-quality copper/gold concentrate, with uranium below typical penalty levels and no arsenic.

The average production rate is estimated at 114 000 t/y of copper and 117 000 oz/y of gold at an assumed steady state.

The PFS estimates a mine life of 24 years, from a plant operating at a production rate of 12.4-million tonnes a year.

Net Present Value/Internal Rate of Return
The project has a net present value of $1.146-billion posttax at an 8% real discount rate, and an internal rate of return of 13%.

Value
The PFS estimates the capital cost of the project at $2.985-billion.

Duration
The expected completion date of the project has not been disclosed.

Latest Developments
The PFS recommends that the project advance to the next stage of development, which will involve the execution of a feasibility study and the development of the exploration decline.

However, OZ Minerals has previously stated that the sole development of the Carrapateena project is beyond its prudent financial capacity. The completed PFS, provides a sound basis from which to progress discussions with potential partners to continue the advancement of the project, with the additional information now available from the release.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
OZ Minerals investors, Natalie Worley, tel +61 3 9288 0345 or email natalie.worley@ozminerals.com.