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QZ Minerals half-year profit slides 43 pct

Copper and gold producer OZ Minerals has posted a 43 per cent drop in half-year profit, weighed down by a fall in copper prices and rising costs.

The miner says net profit for the six months to June 30 fell to $29.5 million, from $51.8 million, a year earlier. Underlying profit was $55 million, up from $51.8 million.

The company, which maintained its guidance for contained copper production at 115,000-125,000 tonnes, will pay an unfranked interim dividend of six cents per share.