Prominent Hill records ‘robust performance’ for Oz Minerals
Gold and copper operations at Prominent Hill have exceeded estimated production, Adelaide-headquartered resources producer Oz Minerals has announced in its annual report released today.
In a statement to the ASX, Oz Minerals said Prominent Hill mineral resources and ore reserves has a “robust performance” and the mine remained strong amid changes “due to mining depletion”.
It stated the successful delineation drilling had increased mineral resource and ore reserve estimates.
“Prominent Hill remains a great foundation asset for Oz Minerals,” managing director and chief executive officer Andrew Cole said.
“We have worked hard to reduce our mining costs in the underground and open-pit operations and that is now reaping rewards.
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“In 2015 we focused on reducing costs which has yielded a reduction in cut-off grades.
“It’s an encouraging result that we will build on next year.
“The underground team is continuing to drive efficiencies and have also had some good confirmatory results with our drilling,” Cole said.
Oz Minerals announced its mineral resource and ore reserve estimates for the combination open-pit and underground mine superseded amounts predicted in last November’s financial release.
Coming on stream in 2009, Prominent Hill produces more than 100,000 tonnes of copper a year.
