OzMin Handover Comes with Good and Bad for BHP
In its last months of independence, OZ Minerals saw a sharp improvement in performance of its gold and copper businesses but also a worrying surge in cost pressures.
Read MoreTag: OZL
Merger Mania Continues among Local Miners
Wedding bells continued to sound across the gold mining industry over the Christmas-New Year break, following on from the trend that emerged earlier in 2022.
Read MoreSometimes, Money Can Buy You Love
BHP has won out in its pursuit of OZ Minerals, with the copper company’s board agreeing to a higher $28.25 a share offer, giving OZ an enterprise value of $A9.6 billion.
Read MoreBHP-OZ Marriage Back off the Rocks
OZ Minerals and BHP have resumed their marriage talks trying to find a dowry in the form of an offer price that will appeal both to shareholders and the market generally.
Read MoreAnother Downgrade Leaves OZMin Vulnerable
OZ Minerals did its defence against BHP’s $25 per share offer no favours yesterday with the second full-year profit downgrade in the space of a quarter.
Read MoreNewmont Postpones Peru; OZ OKs West Musgrave
Contrasting decisions from two major miners on big projects, with Newmont postponing its gold copper expansion project in Peru for at least two years and OZ Minerals off and running at WA’s West Musgrave.
Read MorePlenty of Smoke and Mirrors from OZ Minerals
OZ Minerals has attempted to offset negative coverage of its weak first half result and its rejection of the BHP bid by revealing plans to more than double its copper production over coming years.
Read MoreMoody’s a Big Fan of BHP’s OZ Moves
Ratings agency Moody’s certainly likes BHP’s appetite for OZ Minerals and the benefits it sees in the deal, believing all BHP has to do lift its $25 per share offer to win over the OZ Minerals board.
Read MoreLet the Games Begin for the BHP-OZL Olympiad
After BHP lobbed its $8.3 billion all-cash bid for OZ Minerals on Monday morning, the future for the targeted company is clear – it will not be allowed to remain independent.
Read MoreMining Morsels: OZL, S32
Updates on Monday from major miners OZ Minerals and South32 told a similar story of disruptions caused by the usual suspects and higher input costs impacting their bottom line.
Read MoreNo Wizardry in Sharp Downgrade for OzMin
OZ Minerals has blamed a combination of wet weather, staff shortages and mechanical problems at its Carapateena mine for a sharp downgrade in forecast copper production this year.
Read MoreNuggets Galore from the Local Resources Sector
While investor attention remains focused on inflation and interest rates, activity continues to burble on across Australia’s resources sector. here’s some news from around the traps.
Read MoreTrading Tidbits: MSV, UMG, OZL / HAV
It was a case of The Good, the Bad and the Ugly on Tuesday for miners Havilah Resources and OZ Minerals, distiller United Malt Group, and drilling contractor Mitchell Services.
Read MoreOZ Minerals Enjoys a Golden Year
As we have seen with other resource stocks, last year turned out to be the best in decades thanks to a sustained commodity price boom. Copper/gold miner OZ Minerals didn’t miss out on the fun.
Read MoreMiners with Major Ambitions
Every miner wants to be a major player eventually. Here is some news from three locals at different stages along that path: De Grey Mining, OZ Minerals and Sandfire Resources.
Read MoreCopper Strength Helps OzMin to Revenue Record
Oz Minerals earned record annual revenues as it lifted production and sales of gold and copper to take advantage of high prices for most of the year – especially copper.
Read MoreOZL – Macquarie rates the stock as Outperform
Target price is steady at $32. Outperform rating retained.
Read MoreThird Mine’s the Charm for OZ Minerals
We got a clear sign on Tuesday that OzMin has a prospect in WA that could soon end up as a third mine for the company, along with its Prominent Hill and Carapateena operations in SA.
Read MoreUpbeat Updates from OzMin and Evolution
Things are bubbling along quite nicely for two local resource companies, with Oz Minerals lifting its full-year guidance and Evolution Mining beating expectations on both an earnings and cost basis.
Read MoreOZL – Macquarie rates the stock as Outperform
Outperform retained. Target rises to $32 from $30.
Read MoreProfit Briefs: OZL, WPL
With peak reporting season upon us, here are snippets from the results announced yesterday by a couple of key resource companies: OZ Minerals and Woodside Petroleum.
Read MoreRecord Earnings Within Reach for OzMin
OZ Minerals is heading for record earnings for the six months to June after net revenue jumped 71% to $986 million on the back of higher gold production and copper output.
Read MoreAll Aboard the Commodities Express
Resource stocks surged on the ASX in Monday trading with some of the majors and the broader market reaching new highs thanks to record iron ore and copper prices.
Read MoreOzMin Making Hay while the Sun Shines
Oz Minerals is moving to boost growth projects at some of its mines as it seeks to take advantage of strong prices for key commodities.
Read MoreFortescue, OzMin Show South32 How It’s Done
While Fortescue and Oz Minerals both recorded strong results, South32 looks for the most part to have completely missed the bus on the recent commodities boom.
Read MoreChina Demand Helps Copper Defy Covid Demand Shock
Copper continues to defy the demand-draining impact of COVID and is instead reacting to China’s continuing buying surge for both processed metal and concentrates.
Read MoreResource Results: Oz Minerals On Golden Run, Lithium Sale Lifts MinRes
OZ Minerals enjoyed the surge in gold prices to June 30 more than the more sedately performing price of copper in the six months to June 30 while Perth-based Mineral Resources can thank a major asset sale, along with the rise in iron ore prices for its sharp rise in statutory profit for the year to June 30.
Read MoreOz Minerals In A Sweet Spot As Higher Prices Meet Production Ramp Up
Shares in OZ Minerals jumped sharply yesterday in the wake of another rise in gold and copper prices on world markets and a good June quarter and half year production and sales update that saw full-year guidance surprisingly lifted.
Read MoreOZL – UBS rates the stock as Buy
The prefeasibility study has indicated that a transition to a block cave at the lower half of the Carrapateena ore body is accretive to value. Mining rates would lift to 12mtpa from 5mtpa for around $1.2-1.3bn of incremental expenditure.
Read MoreOZL – Macquarie rates the stock as Outperform
Despite restrictions in South Australia, OZ Minerals has continued to operate as normal at its mines. Hence the Carrapateena expansion study is due in the next few weeks and Prominent Hill expansion next year. The confirmation of the economics of a block cave at Carra is a key potential catalyst, the broker suggests, offering upside risk to forecasts.
Read MoreOZL – Macquarie rates the stock as Outperform
First-quarter results were mixed, Macquarie observes, with strong copper and gold production offset by higher-than-expected cash costs.
Read MoreOZ Minerals Avoids Virus Damage As BHP Halts Copper Mine In Peru
OZ Minerals says it has so far avoided the impact of the COVID-19 pandemic but has loaded up its liquidity. Meanwhile, BHP and its partners have revealed that their huge Antamina copper-zinc mine in the Peruvian Andes has been temporarily closed.
Read MoreMaterial Matters: Indonesia, Australia & Zinc
A glance through the latest expert views and predictions about commodities. Indonesia; Australia; and zinc.
Read MoreMaterial Matters: Copper, Lithium & Closures
A glance through the latest expert views and predictions about commodities. Base metals; cost curves; lithium; and mine closures.
Read MoreOz Minerals Flags Carrapateena Copper Ramp Up
Some rare good news amid all the downgrades and fears about the impact of the China virus crisis – copper and gold miner Oz Minerals says its plans to ramp up copper and gold output at its new Carrapateena mine in South Australia remain on track after production began on schedule in December.
Read MoreIs Copper Due For A Run?
The bellwether of global economic activity, copper has pretty much marked time over the last 12 months price-wise – a fair reflection of the sluggish conditions.
Read MoreOZL – UBS rates the stock as Buy
September quarter production was slightly weaker than forecast but, importantly, Carrapateena remains on track for first production in November.
Read MoreInvestors Look Beyond Soft Oz Minerals Result
OZ Minerals shares jumped nearly 5% yesterday despite the company reporting a weak interim profit and continued big investment spending on new mines and prospects.
Read MoreOZL – Credit Suisse rates the stock as Underperform
Credit Suisse points out management is confident regarding achieving December quarter production at Carrapateena but the timetable may be at risk, given time-consuming plant completion is still required.
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