Posts Tagged ‘OZ Minerals’

ASX Company News: Leighton Awarded $1 billion Mining Contract

Wednesday, February 8th, 2012

Thiess Pty Ltd, a subsidiary of Leighton (LEI), has been awarded a six-year mining contract to extend mining operations at OZ Minerals’ Prominent Hill Copper and Gold Mine in South Australia. With an expected cumulative value of $1 billion, the contract award ensures that Thiess will undertake the mining operations for OZ Minerals until 2018. Thiess is well underway in the planning, training and implementation of the ramp-up which requires a substantial expansion of Thiess’ existing operation, peaking at five fleets of large mining equipment.

Thiess’ Managing Director Bruce Munro is very pleased with the outcome for both OZ Minerals and Thiess. “This contract is recognition of Thiess’ strong partnership with OZ Minerals, a relationship built since 2006 when Thiess undertook the construction of infrastructure and then the mining for the greenfield operation at Prominent Hill,” Mr Munro said. Executive General Manager of Thiess’ Australian Mining Michael Wright says the expansion requires Thiess to employ an additional 170 people over coming months with the total open pit mining workforce expected to peak at 550 people. “We have been very successful with our operations at Prominent Hill, with a strong focus placed on employing and training local people, and on ensuring we have a diverse workforce with a strong culture,” Mr Wright said.

Thiess’ $2.8 billion mining business in Australia and overseas provides turnkey services for mine owners, including mine development and approvals, mine planning, infrastructure design and construction, technical services, plant procurement and maintenance, and all facets of mining operations. The Prominent Hill operations are a crucial part of Thiess’ business. Thiess has an annual turnover of $7 billion and $22 billion work in hand. With over 19,000 employees, it has become Australia’s leading and most trusted construction, mining and services contractor. Thiess is a wholly owned subsidiary of Leighton Holdings Limited.

www.thiess.com.au

http://www.traderdealer.com.au/fundamentals/lei

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Dividends: OZ Minerals Ex Dividend On 1/9/2010

Monday, August 30th, 2010

OZ Minerals (OZL) will go ex dividend on 1/9/2010. The current dividend payment is 3 cents and it is 0% franked. The record date is 7/9/2010 and the dividend will be paid on 21/9/2010. Based on the full year payment the dividend yield is 2.5%.

*Current Yield: 2.5% Franking: 0% DRP Discount: 2.5%

OZ Minerals

*Yield has been calculated on the closing price on the 26/8/2010. Current yield is based on the current dividend payment only.

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ASX Company News: Oz Minerals Acquires Stake In Sandfire Resources

Saturday, July 3rd, 2010

OZ Minerals is pleased to announce that it has acquired approximately 25.8m shares representing approximately 19% of Australian listed Sandfire Resources NL. This is considered a strategic investment which provides exposure to Sandfire’s high quality Doolgunna project located in Western Australia.

The acquisition of the stake was completed today with the majority purchased from a small number of high net worth / institutional investors and the balance from on-market purchases. The total consideration for the purchase was approximately A$100 million.

Commenting on the transaction, OZ Minerals’ Managing Director Terry Burgess said, “While the Doolgunna project is still at a relatively early stage, we have been impressed by the work undertaken by the Sandfire team and we hope to be able to work constructively with them in maximising the full value of this asset. Given the size of the stake, OZ Minerals is formally requesting a seat on the Sandfire Board of Directors. We are particularly excited by the exploration potential of the project. Doolgunna appears to represent the discovery of a new high grade copper deposit with considerable upside yet to be realised.”

Head of Business Development for OZ Minerals, Richard Hedstrom added, “Whilst we will not be rushed into making important investment decisions for our stakeholders, our significant cash balance does give us the ability to move quickly on opportunities, such as the Sandfire equity stake, as and when they arise. Our intention is to maintain the interest in Sandfire at this level, at this stage. This acquisition is in line with the Company’s previously stated strategy of investing in promising copper assets.”

The Sandfire equity stake forms part of the growing portfolio of assets within OZ Minerals, centred on the Prominent Hill copper-gold mine in South Australia. Supplementing this is an extensive exploration effort around the Prominent Hill copper mine and in the broader Prominent Hill region, as well as exploration interests in Cambodia, Australia and Mexico.  The OZ Minerals stake in Sandfire complements other such strategic equity stakes, including IMX and Toro, a complete list of which is on the OZ Minerals web site.

www.ozminerals.com

http://www.traderdealer.com.au/Fundamentals/ozl

http://www.traderdealer.com.au/Fundamentals/sfr

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Azure Minerals In Mexican JV Agreement With OZ Minerals

Wednesday, March 10th, 2010

Azure Minerals Ltd (AZS) has moved to accelerate exploration on one of its key projects in Mexico by entering into a joint venture with Australian mining company OZ Minerals Ltd (OZL) on Azure’s 100%- owned San Eduardo property, located in Sonora Mexico. OZ Minerals is a copper focused, Australian-based mining company which owns and operates the high quality Prominent Hill copper-gold mine in South Australia. OZ Minerals is building a pipeline of projects through acquisition, organic developments, and a strong commitment to exploration both at existing projects and through the identification of new opportunities. To earn an initial 51% participating interest in San Eduardo, OZ Minerals will spend US$3,000,000 over the next 3 years, with a minimum commitment of US$300,000 to be expended within the first year. OZ Minerals can earn an additional 19% participating interest in the project by spending a further US$10,000,000, taking its total equity to 70%.

Azure’s Executive Chairman, Mr Tony Rovira, welcomed the strong interest of OZ Minerals, one of Australia’s premier mining companies, as confirmation of the high quality of Azure’s 100%-owned Mexican projects. “We are delighted to have attracted OZ Minerals to the Sierra Madre Occidental district of northern Mexico, which is one of the world’s great mining provinces,” said Mr Rovira. “To secure the involvement of OZ Minerals in this exploration project is a strong vote of confidence in Azure’s on-going program of regional exploration, target identification and project staking, confirming the effectiveness of our exploration team in Mexico. This Joint Venture will enable Azure to accelerate our exploration programs and develop our projects.”

OZ Minerals is an Australian-based mining company with a focus on copper. It owns and operates the high quality Prominent Hill copper-gold mine in South Australia, and is building a pipeline of projects through acquisition, organic developments and a strong commitment to exploration both at existing projects and through the identification of new opportunities. In Australia OZ Minerals is exploring for copper-gold deposits in the Gawler Craton in South Australia. OZ Minerals is also actively seeking to increase its project portfolio through sole or joint initiatives. Leveraging from its strong operating experience and technical knowledge, OZ Minerals is exploring for gold and base metals, both in its own right and in partnerships with other companies. The San Eduardo Joint Venture with Azure Minerals is OZ Minerals’ first venture into Latin America.

www.azureminerals.com.au

www.ozminerals.com

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Thursday, 18th June 2009 Morning Wrap

Thursday, June 18th, 2009

Presented by Michael Hevern
MDSFinancial

Click here to watch the presentation.

or

Click here to download the mp3 audio recording (931Kb).

General Advice Only
************************************************
In this morning s wrap

DOW: down 0.1%
S&P Downgrades Banks;
Healthcare Rise Congress Changes

NASDAQ: up 0.7%
Texas Instruments & Qualcomm Upgraded

FTSE: down 1.2%
BoE: Banks need More Capital; BoE $US204bn Stimulus
DAX down 1.9% & CAC down 1.6%

NIKKEI: up 0.9%
Japan: BoJ & Gov t See Worst of Recession Is Over;
Hang Seng down 0.5%

Oil: Flat (down -0.2%) ($71)
Iran Still Simmering in the Background

Gold: up 0.5% ($939)
Commodities Mixed;
USD Lower

SPI down 8 (0.2%);
SPI: Critical Level(s): 3850 to 4000

ASX News

OZL gets $1.8bn from Minmetals; Cash $US575m
CSR to split Sugar/Building Materials AGM 9 July
SGP to create Retirement Property Arm
MCC sees rising demand (China)
ASX to open lower;
US & UK lower

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Tuesday, 26th May 2009 Morning Wrap

Tuesday, May 26th, 2009

Presented by Michael Hevern
MDSFinancial

Click here to watch the presentation.

or

Click here to download the mp3 audio recording (798Kb).

General Advice Only

*************************************************
In this morning s wrap

DOW: closed (Flat Last Week)
3-day Weekend

NASDAQ: closed (up 0.5% Last Week)

FTSE: Closed (up 0.6% Last Week)
Closed;
DAX flat 0.01% & CAC up 0.4%

NIKKEI: up 1.3 % (down 0.5% Last Week)
GS says Buy: Komatsu
&Hitachi Construction

Hang Seng: up 0.4 % (up 43% from March Lows)
India up 14% Last Week (1992)

Oil: down 0.3% ($61) (up 9% Last Week)
Low Volumes;
US Inventories Down

Gold: flat ($958) (up 3% Last Week)
Commodities Closed;
USD Lower (4 month Lows)

SPI down 8 (0.2%) (up 1% Last Week)
SPI: Critical Level(s): 3800 to 3600
Financials Drag; Swine Flu Weighs

A$: Approaching 80 cents (AUDUSD)
Commodities Improving;
Interest Rates Higher

ASX News

RIO FIRB pre-meeting – Chinalco deal concerns
OZ Prominent Hill; Minmetals deal
ASIC removes the Short-Selling Ban on Financials see Special Report
MQG & PPT Biggest losers down 6.6% & 9% respectively
$A Strength starting to hurt our exporters; helps importers
Golds to support
Materials, Financials and Energy flat
ASX to open flat; US & UK closed

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Wednesday, 20th May 2009 MDS Morning Wrap

Wednesday, May 20th, 2009

Presented by Michael Hevern
MDSFinancial

Click here to watch the presentation.

or

Click here to download the mp3 audio recording (1042Kb).

General Advice Only

*************************************************
In this morning s wrap

DOW: down 0.3%
March Housing Starts down 13% (1960 lows);
Financials Weigh; Profit Taking

NASDAQ: up 0.1%
HP 1Q Profit down 17%;
Sales Down; Jobs Cut

FTSE: up 0.8%
Financials & Energy Lead Rebound;
DAX up 2.2% & CAC up 0.9%

NIKKEI: up 2.8 %
Mitsubishi Bank: First Annual Loss ($2.6bn) Bad Debts Double
Hang Seng up 1.3%;

Oil: up 1.1% ($60)
New Highs
Ahead of US Driving Season

Gold: up 0.8% ($926)
Commodities Mixed;
USD Lower

SPI down 2 (-0.1%)
SPI: Critical Level(s): 3850
Support Holding?

ASX News

PNA Puthep Copper Reserves up 33%
TLS – Sol Trujillo has made a premature exit
APN raising $99m 1 for 5 rights; cuts divy
Raisings rumour $1bn for ANZ & AMC
Results 1H AWB (~50%); LNN (+7%); 09 JHX
Golds and Energy to support
Materials, Financials to see profit taking
ASX to open higher; US profit taking

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OZ Minerals Sells Indonesian Gold Project

Monday, April 27th, 2009

Following a competitive sale process over recent months, OZ Minerals Limited (OZL) today announced 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. CST has agreed to pay a deposit of US$10 million upon signing and the balance of US$201 million upon completion of the transaction, which is expected by early June 2009, subject to several conditions being satisfied.  OZ Minerals will also be reimbursed by CST for an estimated expenditure of US$7.5 million on the project from 1 April through to the completion date. 

CST was founded as an investment holding company and its subsidiaries are principally engaged in investments in financial instruments and property investment. CST has been pursuing interests in the mining sector for some time.  Its mining and investment business will now be centered on the Martabe project. To assist this transformation, CST has appointed an experienced mining team and has formed a strategic relationship with an Indonesian partner. The sale is not conditional on financing, and CST will fund the acquisition from cash on hand. However, it is conditional on the consent of certain of OZ Minerals’ lenders, CST’s shareholders and Australia’s Foreign Investment Review Board. 

“The proceeds from this sale will make an important contribution to addressing OZ Minerals’ refinancing issues”, said Andrew Michelmore, Managing Director and CEO of OZ Minerals. 

www.ozminerals.com

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Wednesday 15th April 2009 MDS Morning Wrap

Wednesday, April 15th, 2009

Presented by Michael Hevern
MDSFinancial

Click here to watch the presentation.

or

Click here to download the mp3 audio recording (805Kb).

General Advice Only

*************************************************
In this morning s wrap

DOW: down 1.7% – Below 8000
Goldmans Needs to Raise Capital;
Financials Weigh

NASDAQ: down 1.7%
Poor Retail Sales Confirm Weakening Demand; Intel 55% decline in 1Q Profit

FTSE: up 0.13% – Below 4000
Retail Sales Weakening; Banks & Mining Support;
DAX up 1.5% & CAC up 0.8%

NIKKEI: down 0.9%
Retailers Weigh;
Hang Seng up 4.6%

Oil: down 0.6% – At $49
Slowing Global Economy

Gold: down 0.2% ($889)
Commodities Higher;

SPI: Critical Levels: 3800 & 3600
SPI down 41 (1.1%);

ASX News
* OZL signs off on $1.7bn Minmetals
* BrisConnections Nick Bolton accused of being a greenmailer ;
sells voting rights of his 19.8% stake for $4.5m to Theiss & Holland
* FMG Hunan Valin takes 17.5% stake ($1bn)
* OST expect earnings downgrade (may need to raise $850m)
* Golds finding support
* Energy & Financials to see profit taking
* ASX to open lower US lower on Retail Sales

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OZ Minerals First Shipment From Prominent Hill

Friday, April 3rd, 2009

OZ Minerals (OZL) has achieved an important milestone in the establishment of its Prominent Hill copper / gold mine in South Australia, with the first rail delivery of concentrate to the Port of Darwin. The shipment was dispatched from the Wirrida rail siding, which is located approximately 115 kilometres west of Prominent Hill. The Company expects to deliver approximately 600 tonnes of concentrate per day, six days per week to the port. 

From the Port of Darwin Prominent Hill copper concentrates will be shipped to smelters across Asia. The first shipment from Darwin is expected to be made in late April “Since first production in late February, the ramp up of the processing plant has progressed very well, the operation has now reached a production rate of around 80% and, as planned, is expected to reach its nameplate rate by the end of the year,” said OZ Minerals Managing Director and CEO Andrew Michelmore. 

http://www.ozminerals.com/

 

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