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FeedRank: 10/10  10/10  Excellent  ---  au.biz.yahoo.com
Australasian Investment Review ...

 

 
Wednesday, July 23, 2008 --- 76 days ago
Oxiana says second quarter copper output in Laos fell 19% after a fire at a plant disrupted production.As well the company has cut its forecast gold output for the year and its zinc output from the Golden Grove operations in WA have also been cut.Oxiana merged with Zinifex on July 1 and is in the process of changing its name to Oz Minerals. It released the first quarterly production report for the merged company yesterday.The shares ended up 8c at & #36;2.08 yesterday.It said that as a result of the fire, copper output from the Sepon mine in the three months to June 30 dropped to 13,240 tonnes, from 16,271 tonnes a year earlier.It maintained that the mine remains on schedule to meet a full-year forecast of between 60,000 tons and 65,000 tonnes.The project to boost copper output at Sepon by a third by 2010 is 60% and first output from its & #36;1.1 billion Prominent Hill mine in South Australia remains on schedule for next quarter, and a new discovery has been outlined nearby.Production guidance for Prominent Hill for this year & quot;remains at 10,000t copper and 6,000oz of gold and production for 2009 predicted to be 110,000t to 120,000t of copper and 75,000oz to 85,000oz of gold & quot;.The company said that zinc output from the Century and Rosebery mines (acquired from Zinifex) fell 7.2% to 151,844 tones, from 163,654 tonnes in the same quarter of 2007. & quot;Record zinc production was achieved for the full year to June 30 2008 wit ...




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