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OZ Minerals says on track to hit FY target


Gold and copper producer Oz Minerals says it is on track to achieve its full year production guidance, despite an unscheduled plant closure and bad weather during the June quarter.

The miner reported copper production for the three months slipped nearly 12 per cent from the previous quarter to 27,350 tonnes, although gold production was higher at 30,099 ounces.

The miner said it lost 10 per cent of processing plant availability at its Prominent Hill mine in South Australia because of unplanned repairs to a damaged SAG mill.

Earlier this year, it had raised the full year target for copper production to between 115,000-125,000 tonnes, and gold production to between 125,000-135,000 ounces.

At 1055 AEST, Oz Minerals shares were up 0.9 per cent at $6.50 each.