Oz downgrades full-year guidance
PERTH (miningweekly.com) – Metals miner Oz Minerals has decreased its full-year production guidance as overburden material slipped in the south wall of the Malu openpit mine, at its Prominent Hill operation, in South Australia.
Production for the full year was expected to be between 82 000 t and 88 000 t of copper, compared with the previous estimate of between 90 000 t and 95 000 t of copper.
Gold production was expected to remain steady at between 130 000 oz and 150 000 oz.
Oz Minerals on Monday reported a slight increase in the quarterly production for the three months ended March, with Prominent Hill delivering 20 474 t of copper and 31 790 oz of gold, despite further overburden slippage.
The miner told shareholders that the slip had temporarily limited access to a section of the Stage 3 mining area and noted that remedial work was under way to restore access to this area.
With this work planned for completion by August, full-year production would be weighted towards the second half of 2013, the miner said.
Meanwhile, Oz noted that work to progress development of an underground mine beneath the Malu openpit had also continued, with the decline accessing the resource for testing and results confirming the higher-grade interpreted mineralisation positions.
Progress was also being made on the Carrapateena project, with the project on track for a decision to mine by mid-2015.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.
VISIT SHOWROOM
Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
