By Rhiannon Hoyle
Oz Minerals Ltd. said copper output will likely be lower than previously anticipated this year, and costs higher, after Covid-19-related absenteeism and flooding disrupted production at its mines in southern Australia.
The company also said its Carrapateena operation has experienced setbacks from damage to a material-handling system belt and ongoing resourcing issues.
Oz Minerals on Monday said it now expects full-year copper output to be between 120,000 metric tons and 135,000 tons, down from an earlier forecast of 127,000-149,000 tons.
All-in sustaining costs–a measure used to reflect the full cost of developing and maintaining a mine–are now estimated between US$1.60 and US$1.80 per pound, Oz Minerals said. It had earlier forecast costs around US$1.35-US$1.55 a pound.
Write to Rhiannon Hoyle at [email protected]
