Oz Minerals resumes work in the field of copper

As reports a press-the centre of the mining concern «Oz Minerals»,

at the moment the company is ready to fully resume work on

own mine, Prominent Hill (here mined copper, gold and silver),

located in South Australia.

Earlier it was reported that the capacity of the above mentioned fields

some time ago, was dealt significant damage due to landslide collapsed

the part of soil of the mine, significantly inhibit the process of mining.

The company’s management made all possible efforts to neutralize

the consequences of a natural disaster, but it project management

notes: «Though the concern „Oz Minerals“ and will be a considerable income as a result

field development, it also requires a significant rise in the cost of copper and

gold in global markets in order to return to the forecast

profitability in the medium and long term. Meanwhile, at this

the time trend in the market of these metals is such that significant growth of prices

to not wait.»

Recall that the company «Oz Minerals» in the first half

the current year loss is equal to 268 million dollars. In the first half of the last

informed concern was obtained a profit of $ 119,5 million dollars. What

for revenue, in the first half of this year, it was 316,2 million

dollars, whereas in the first half of last year — 514,8 million dollars. As

you know, over the past year, in comparison in 2011, «Oz Minerals»

reduced net profit by 44% (274,5 million dollars to 152 million dollars). In

the entire 2012 income of the company fell by 11.7% — from $ 1.1 billion to

985,7 million dollars.

Holding «Oz Minerals» (is engaged in the production of copper, zinc,

lead, silver and gold) were founded in 2008 after the merger of the Australian

mining companies «Zinifex Limited and Oxiana Limited». Among the major existing

properties of concern — six mining assets in the territory

Australia and Asia. In addition, two new projects of the holding are under

development, and one project portfolio (by location of production facilities

in Asia, North America and Australia) — passes the stages of research and

approval.

The company «Oz Minerals» is constantly investing in

exploration and development of new deposits of copper and gold. In this region

Prominent Hill, in which is embedded the main part, the

the organization has high hopes.