OZ Minerals is pleased to announce management appointments in the areas of Exploration and Business Development following the announcement of the departure of Tony Manini as Executive General Manager Exploration and Business Development Continue reading
OZ Minerals has initiated two share sale facilities designed to allow shareholders with less than 5000 shares to sell their shares cost effectively and simply and to assist the company in reducing costs associated with servicing smaller holdings. Continue reading
The OZ Minerals half year financial results ASX release and presentation released this morning. A full copy of the half year financial results is available on the OZ Minerals website.
• Strong performance from OZ Minerals’ Prominent Hill operation – A$19.4 million EBIT for the period since 1 May 2009.
• Healthy balance sheet, with cash balance of A$1,004.5 million (largely held in US$) at the end of the period.
• Profit impacted by losses on the sale of assets to Minmetals, costs associated with refinancing and transaction costs.
• Company’s financing issues resolved and all bank loans repaid in full. NB All figures in A$ unless otherwise stated. Continue reading
OZ Minerals has today been advised that shareholders of China Sci-Tech Holdings Limited have voted in favour of the acquisition of the Martabe project in Indonesia from OZ Minerals. Continue reading
No recapitalisation proposal received
OZ Minerals notes the recent media speculation about possible recapitalisation proposals. OZ Minerals has not received a recapitalisation proposal which it considers to be a superior alternative to the China Minmetals transaction. Continue reading
Following a competitive sale process over recent months, OZ Minerals today announces the sale of its Martabe gold and silver project in North Sumatra, Indonesia, to China Sci-Tech Holdings Limited (“CST”) for US$211 million in cash. Continue reading
OZ Minerals has been advised that the Treasurer of the Commonwealth of Australia has today announced that he has approved the proposed acquisition by China Minmetals Non-Ferrous Metals Co. Ltd. (“Minmetals”) of all of the assets of OZ Minerals except for Prominent Hill (and related exploration leases), Martabe (and related exploration leases), certain exploration leases in Thailand and Cambodia and all of OZ Minerals’ listed equity investments (“Sale Assets”). Continue reading