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OZ Minerals Provides Adjustments to 2022 Copper Production and Cost Guidance

27 Jun 2022  |  09:50:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: 2022 Copper Production and Cost Guidance Updated

OZ Minerals advised that Group annual copper production for 2022 has been adjusted to reflect the softer start to the year and further material handling system and equipment availability issues at Carrapateena. Group All In Sustaining Cost guidance has been increased by 17% due to the lower production combined with current cost inflation of 8%. COVID absenteeism and flooding that affected both Australian assets during the first quarter resulted in lower first quarter production rates. Remediation programs were established at both Prominent Hill and Carrapateena. The Prominent Hill plan is seeing quarter on quarter production improvement and annual copper production is expected to be at the lower end of the tightened full year guidance range. Carajas is on track to produce, and more.

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