DOCSLIB.ORG

A Modern Mining Company

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A Modern Mining Company A modern mining company 27 February 2019 The Manager, Companies Australian Securities Exchange Companies Announcement Centre 20 Bridge Street Sydney NSW 2000 Dear Sir/Madam, OZ Minerals 2018 Annual and Sustainability Report OZ Minerals today announced its results for the full year ended 31 December 2018. Attached is the Appendix 4E and 2018 Annual and Sustainability Report including: • Directors’ Report • Remuneration Overview and Report • FY18 Financial Report • Sustainability Report Sincerely, Michelle Pole Company Secretary and Senior Legal Counsel OZ Minerals Limited | ABN: 40 005 482 824 | 2 Hamra Drive, Adelaide Airport South Australia 5950 T: +61 8 8229 6600 | F: +61 8 8229 6601 | [email protected] | www.ozminerals.com A modern mining company RESULTS FOR ANNOUNCEMENT TO THE MARKET We have provided the announcement to the market results in accordance with Australian Securities Exchange (ASX) Listing Rule 4.2A and Appendix 4E for the Consolidated Entity (OZ Minerals) comprising OZ Minerals Limited (OZ Minerals Limited or the ‘Company’) and its controlled entities for the year ending 31 December 2018 (financial year) compared to the year ending 31 December 2017 (comparative year). Consolidated results, commentary on results and outlook 31 December 2018 31 December 2017 Movement Movement $m $m $m % Revenue 1,117.0 1,023.1 93.9 9.2 Profit after tax attributable to OZ 222.4 231.1 (8.7) (3.8) Minerals Limited equity holders The commentary on the consolidated results and outlook, including changes in state of affairs and likely developments of the Consolidated Entity, is set out on pages 6 to 19 and within the Financial Review section of the Directors’ Report (page 24). Net tangible assets per share 31 December 2018 31 December 2017 $ per share $ per share Net tangible assets per share 9.03 8.42 In accordance with Chapter 19 of the ASX Listing Rules, net tangible assets per share represents the total assets less intangible assets, less liabilities ranking ahead of, or equally with, ordinary share capital, and divided by the number of ordinary shares on issue at the end of the year. OZ Minerals Limited | ABN: 40 005 482 824 | 2 Hamra Drive, Adelaide Airport, South Australia 5950 T: +61 8 8229 6600 | F: +61 8 8229 6601 | [email protected] | www.ozminerals.com A modern mining company Dividends Since the end of the financial year, the Board of Directors has resolved to pay a fully-franked dividend of 15 cents per share on 26 March 2019. The record date for entitlement to this dividend is 12 March 2019. The financial impact of the dividend amounting to $48.4 million has not been recognised in the Consolidated Financial Statements for the year ended 31 December 2018 and will be recognised in subsequent consolidated financial statements. Dividends announced or paid since 1 January 2017 Record date Payment date Fully franked cents per Total dividends share $m 12 March 2019 26 March 2019 15 48.4 3 September 2018 17 September 2018 8 25.8 12 March 2018 26 March 2018 14 41.8 7 September 2017 21 September 2017 6 17.9 10 March 2017 24 March 2017 14 41.8 Independent auditor’s report The above announcement of the results to the market is based upon the Consolidated Financial Statements and we have included the Independent Auditor’s Report to OZ Minerals Limited members in OZ Minerals’ 2018 Annual and Sustainability Report. OZ Minerals Limited | ABN: 40 005 482 824 | 2 Hamra Drive, Adelaide Airport, South Australia 5950 T: +61 8 8229 6600 | F: +61 8 8229 6601 | [email protected] | www.ozminerals.com 2018 OZ Minerals Annual and Sustainability Report Cover image: Antas mine, Brazil Inside cover image: Exploration at Carrapateena CONTENTS 2018 Snapshot 02 Message from the Chairman and CEO 04 Operating Review 06 Company Strategy 06 Prominent Hill 08 Carrapateena 10 Musgrave Province 12 Brazil 14 Exploration and Growth 18 Governance 20 Directors’ Report 24 Financial Review 33 Cautionary statement Remuneration Overview and Report 41 This report contains forward-looking statements that relate to our activities, plans and objectives. Actual Sustainability Report 62 results may significantly differ from these statements, depending on a variety of factors. The term ‘material topic’ is used for voluntary sustainability reporting Mineral Resources and Ore Reserves 90 to describe topics that could affect our sustainability performance. By their nature, forward-looking statements involve risk and uncertainty because they Financial Report 97 relate to events and circumstances that will occur in the future and may be outside OZ Minerals’ control. Given these risks and uncertainties, undue reliance Shareholder Information 141 should not be placed on forward-looking statements. COPPER PRICING SNAPSHOT / Fourth consecutive year $/lb US$/lb A$/lb copper production and 4.5 cost guidance met at Prominent Hill 3.5 / Carrapateena Phase 1 construction completed, Phase 2 construction 2.5 underway / Brazilian asset and project portfolio acquired in Carajás 1.5 Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 and Gurupi / Progressed to 51% ownership on West GOLD PRICING Musgrave project $/oz US$/oz A$/oz 2,000 1,600 1,200 800 Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 Jan 19 FULL YEAR FINANCIAL RESULTS SUMMARY 2018 2017 $m $m Group revenue 1,117.0 1,023.1 Underlying EBITDA 540.4 539.4 Net depreciation (228.5) (218.7) Underlying EBIT 311.9 320.7 Net finance income 7.1 8.7 Income tax expense (90.5) (98.3) Underlying NPAT 228.3 231.1 Non-underlying items net of tax (5.9) – NPAT 222.4 231.1 Dividends per share (cents) 23 20 02 ANNUAL AND SUSTAINABILITY REPORT 2018 2018 S 135,647 napshot ounces of gold produced 115,998 tonnes of copper produced ALL ASSETS Lannavaara, Sweden Oaxaca, Mexico Gurupi Province (CentroGold) Carajás Province Paraiso, Peru Antas Pedra Blanca Musgrave Province Eloise Pantera Coompana Prominent Hill Province Carrapateena Province Operating mine Mine in construction Study phase Exploration Prominent Hill Punt Hill Pantera / Underground operations / With Red Metal Limited / High grade, copper-gold exploration project / Copper concentrate (containing gold / Targeting IOCG mineralisation 50km CentroGold and silver) south of Carrapateena project / In pre-feasibility study stage Carrapateena Exploration Alliance Paraiso / Project in construction / With Red Metal Limited / With private Peruvian company Inversiones / Commissioning in Quarter 4 2019 / Joint exploration of chosen base metal Mineras La Chalina S.A.C. and gold/silver prospective projects from / Copper concentrate (containing gold / Targeting IOCG deposits in the Arequipa Red Metal portfolio and silver) district of southern coastal Peru Eloise West Musgrave Lannavaara / With Minotaur Exploration Limited / With Cassini Resources Limited / With private explorer Mineral / Pre-feasibility study underway / Excellent prospectivity for high-grade Prospektering i Sverige Eloise-style Cu-Au and Cannington-style / Targeting IOCG mineralisation in the Coompana Pb-Zn-Ag deposits / With Mithril Resources Limited Norrbotten district of northern Sweden Antas / Targeting copper/nickel magmatic Oaxaca / Small, high grade, open-pit sulphide mineralisation / With Acapulco Gold Corp copper-gold mine / Targeting copper/zinc VHMS systems Pedra Branca in southern Mexico / IOCG project in definitive feasibility stage 03 Message from the Chairman and CEO Dear shareholders, Realising our growth strategy Innovation and agility // in a changing world We have implemented many changes to the Through 2018, This year we safely and significantly advanced our culture and wider stakeholder relationships over growth strategy, having prepared the company the past years and there will be more to come OZ Minerals’ for growth over the preceding three years. as the company grows. We reached or exceeded the production and organisational structure We are determined to do things better and cost guidance at Prominent Hill and advanced innovate: has evolved for growth. Carrapateena, our copper–gold project in South Australia, with final government approvals / Prominent Hill built up its data management We’ve refined our in March 2018 triggering the second stage and analysis capabilities and is investigating of construction. We have taken the first step how big data could be captured and stored by strategy; strengthened towards becoming a global copper core modern embedding wireless technology throughout its and simplified mining company with the successful acquisition surface operations. of Avanco Resources, an Australian-based / We investigated opportunities to increase governance processes; company with an operating asset and a number Prominent Hill’s production to above 3.5 million and reorganised the of advanced exploration projects in Brazil, giving to four million tonnes per year once stockpiles us a foothold in two highly prospective provinces, are exhausted in 2023. team to support the Carajás and Gurupi. We continued to evolve / At Carrapateena, the innovative approach forward momentum. OZ Minerals’ exploration pipeline with new sites used to develop community and business in Sweden and Peru. partnerships continued to yield positive A good balance sheet supported by strong outcomes; the Carrapateena team, together financial results led to a $677.3 million with Global Maintenance Upper Spencer Gulf, investment into growth activities; $67.6 million was a joint recipient of the South Australian in dividends to shareholders; and a cash balance Premier’s Award for Excellence in Working of $505.0 million. with Communities. / At West Musgrave we worked with PwC – The Strengthening the leadership difference to develop a new, effective, inclusive and structure and accelerated style of working on the project. Through 2018, OZ Minerals’ organisational structure has evolved for growth. We’ve refined Partnering with our communities our strategy; strengthened and simplified In 2018, we embarked on developing a flagship governance processes; and reorganised the team social contribution project under the banner to support the forward momentum. The refreshed Educating the Next Generation. We are in the strategy will deliver a continued push to innovate early stages of developing partnerships with and create value.
Load more

Recommended publications
  • Socially Conscious Australian Equity Holdings
    Socially Conscious Australian Equity Holdings As at 30 June 2021 Country of Company domicile Weight COMMONWEALTH BANK OF AUSTRALIA AUSTRALIA 10.56% CSL LTD AUSTRALIA 8.46% AUST AND NZ BANKING GROUP AUSTRALIA 5.68% NATIONAL AUSTRALIA BANK LTD AUSTRALIA 5.32% WESTPAC BANKING CORP AUSTRALIA 5.08% TELSTRA CORP LTD AUSTRALIA 3.31% WOOLWORTHS GROUP LTD AUSTRALIA 2.93% FORTESCUE METALS GROUP LTD AUSTRALIA 2.80% TRANSURBAN GROUP AUSTRALIA 2.55% GOODMAN GROUP AUSTRALIA 2.34% WESFARMERS LTD AUSTRALIA 2.29% BRAMBLES LTD AUSTRALIA 1.85% COLES GROUP LTD AUSTRALIA 1.80% SUNCORP GROUP LTD AUSTRALIA 1.62% MACQUARIE GROUP LTD AUSTRALIA 1.54% JAMES HARDIE INDUSTRIES IRELAND 1.51% NEWCREST MINING LTD AUSTRALIA 1.45% SONIC HEALTHCARE LTD AUSTRALIA 1.44% MIRVAC GROUP AUSTRALIA 1.43% MAGELLAN FINANCIAL GROUP LTD AUSTRALIA 1.13% STOCKLAND AUSTRALIA 1.11% DEXUS AUSTRALIA 1.11% COMPUTERSHARE LTD AUSTRALIA 1.09% AMCOR PLC AUSTRALIA 1.02% ILUKA RESOURCES LTD AUSTRALIA 1.01% XERO LTD NEW ZEALAND 0.97% WISETECH GLOBAL LTD AUSTRALIA 0.92% SEEK LTD AUSTRALIA 0.88% SYDNEY AIRPORT AUSTRALIA 0.83% NINE ENTERTAINMENT CO HOLDINGS LIMITED AUSTRALIA 0.82% EAGERS AUTOMOTIVE LTD AUSTRALIA 0.82% RELIANCE WORLDWIDE CORP LTD UNITED STATES 0.80% SANDFIRE RESOURCES LTD AUSTRALIA 0.79% AFTERPAY LTD AUSTRALIA 0.79% CHARTER HALL GROUP AUSTRALIA 0.79% SCENTRE GROUP AUSTRALIA 0.79% ORORA LTD AUSTRALIA 0.75% ANSELL LTD AUSTRALIA 0.75% OZ MINERALS LTD AUSTRALIA 0.74% IGO LTD AUSTRALIA 0.71% GPT GROUP AUSTRALIA 0.69% Issued by Aware Super Pty Ltd (ABN 11 118 202 672, AFSL 293340) the trustee of Aware Super (ABN 53 226 460 365).
    [Show full text]
  • OXR ZXF Merger Announceme
    3 March 2008 AUSTRALIAN STOCK EXCHANGE AND MEDIA RELEASE OXIANA AND ZINIFEX TO MERGE TO CREATE A MAJOR DIVERSIFIED MINING COMPANY Oxiana Limited (“Oxiana”) and Zinifex Limited (“Zinifex”) today announce that they have entered into a definitive agreement to merge their businesses, creating a new major diversified base and precious metals mining company with global capability. The merged company will be re-named and will remain headquartered in Melbourne, Australia. Transaction Highlights • Zinifex shareholders will receive 3.1931 Oxiana shares for each Zinifex share they own. The terms reflect a merger of equals with the merged entity to be owned 50% by Oxiana and Zinifex shareholders, respectively. • The Board of Oxiana and the Board of Zinifex each believe that the new entity will be better positioned for growth than either company on a standalone basis. • The merger will combine two companies with highly complementary operational, development and exploration profiles and create a group with: o A market capitalisation of approximately A$12 billion, making it the 3rd largest diversified mining company listed on ASX. o The world’s second largest producer of zinc and a substantial producer of copper, lead, gold and silver. o Five competitive mining operations in Australia and Asia and three new mining projects in development. o A large portfolio of diversified development and exploration activities throughout Australia, Asia and North America. o A net cash balance of approximately A$1.9 billion (as at 31 December 2007) and combined EBITDA (in calendar year 2007) of approximately A$1.7 billion. o A strong platform to grow both organically and through acquisitions.
    [Show full text]
  • Mineral Facilities of Asia and the Pacific," 2007 (Open-File Report 2010-1254)
    Table1.—Attribute data for the map "Mineral Facilities of Asia and the Pacific," 2007 (Open-File Report 2010-1254). [The United States Geological Survey (USGS) surveys international mineral industries to generate statistics on the global production, distribution, and resources of industrial minerals. This directory highlights the economically significant mineral facilities of Asia and the Pacific. Distribution of these facilities is shown on the accompanying map. Each record represents one commodity and one facility type for a single location. Facility types include mines, oil and gas fields, and processing plants such as refineries, smelters, and mills. Facility identification numbers (“Position”) are ordered alphabetically by country, followed by commodity, and then by capacity (descending). The “Year” field establishes the year for which the data were reported in Minerals Yearbook, Volume III – Area Reports: Mineral Industries of Asia and the Pacific. In the “DMS Latitiude” and “DMS Longitude” fields, coordinates are provided in degree-minute-second (DMS) format; “DD Latitude” and “DD Longitude” provide coordinates in decimal degrees (DD). Data were converted from DMS to DD. Coordinates reflect the most precise data available. Where necessary, coordinates are estimated using the nearest city or other administrative district.“Status” indicates the most recent operating status of the facility. Closed facilities are excluded from this report. In the “Notes” field, combined annual capacity represents the total of more facilities, plus additional
    [Show full text]
  • Our Minerals and Mining Capabilities
    KAURNA ACKNOWLEDGEMENT We acknowledge and pay our respects to the Kaurna Just as the minerals sector is central to our nation’s identity people, the original custodians of the Adelaide Plains and prosperity, so it is to the University of Adelaide. and the land on which the University of Adelaide’s Through our world-class research and development campuses at North Terrace, Waite, and Roseworthy expertise, we’ve supported and strengthened Australian are built. We acknowledge the deep feelings of WELCOME attachment and relationship of the Kaurna people mining since 1889; and we will continue to act as a catalyst to country and we respect and value their past, for its success well into the future. present and ongoing connection to the land and As you’ll see in these pages, our relevant expertise and cultural beliefs. The University continues to develop experience—coordinated and focused through our Institute respectful and reciprocal relationships with all for Mineral and Energy Resources—encompasses every Indigenous peoples in Australia, and with other Indigenous peoples throughout the world. aspect of the minerals value chain. You will also see evidenced here the high value we place on industry collaboration. We believe strong, productive partnerships are essential, both to address the sector’s biggest challenges and maximise its greatest opportunities. An exciting tomorrow is there for the making—more efficient, more productive and environmentally sustainable. We would welcome the chance to shape it with you. Regards, Professor Peter Høj
    [Show full text]
  • IGO Interactive Annual Report 2020
    2021 ANNUAL REPORT We believe in a green energy future. IGO Limited is an ASX 100 listed ACKNOWLEDGEMENTS Company focused on creating a We acknowledge the Traditional Owners of the land on better planet for future generations by which we operate and on which we work. We recognise their connection to land, waters and culture, and pay our discovering, developing, and delivering respects to their Elders past, present and emerging. products critical to clean energy. We would like to thank Neil Warburton who retired from the IGO Board in FY21 for his significant contribution to IGO over the last five years. WHO WE ARE We are also pleased to welcome two new appointments IGO Limited is an ASX 100 listed Company focused on to the Board, Xiaoping Yang as a Non-executive Director creating a better planet for future generations by discovering, and Michael Nossal as a Non-executive Director who developing, and delivering products critical to clean energy. transitioned to the Chair role on 1 July 2021. As a purpose-led organisation with strong, embedded values and a culture of caring for our people and our stakeholders, We would also like to take this opportunity to thank Peter we believe we are Making a Difference by safely, sustainably Bilbe, who was appointed to the IGO Board in 2009, for his and ethically delivering the products our customers need substantial contribution to the Company. Over his tenure, to advance the global transition to decarbonisation. Peter has overseen the positive transformation of IGO, culminating in the announcement on 30 June 2021 of the Through our upstream mining and downstream processing completion of the transaction with Tianqi Lithium Corporation.
    [Show full text]
  • Zinifex Completes Transfer of Zinc Smelting and Alloying Business to Nyrstar Nyrstar the World’S Leading Zinc Metal Producer Is Born
    4 September 2007 Zinifex completes transfer of zinc smelting and alloying business to Nyrstar Nyrstar the world’s leading zinc metal producer is born Zinifex today announced that it had completed the transfer of its zinc and lead smelting and alloying assets to Nyrstar, thereby formally launching the joint- venture with Umicore and creating the world’s largest zinc metal producer. Incorporated in Belgium and headquartered in London, Nyrstar has wholly owned operations in Australia, Belgium, France, the Netherlands and the USA and joint ventures in Australia, China and France as well as a 24.9 per cent interest in Padaeng Industry Public Company Limited in Thailand. Nyrstar’s shareholders, Umicore and Zinifex, have contributed approximately 40 per cent and 60 per cent, respectively, of the relative value of Nyrstar’s assets. Nyrstar is however structured on an equal ownership basis, with Zinifex and Umicore each owning 50 per cent of the shares in Nyrstar and having equal voting rights, with an appropriate equalisation arrangement to be implemented at a future point. The formation of Nyrstar marks another significant milestone in the transformation of Zinifex to a fully-fledged mining company. It is the intention of both Zinifex and Umicore to undertake an initial public offering of shares in Nyrstar at an appropriate time. For more information, please read the attached Nyrstar statement which was issued separately and can also be viewed at Nyrstar’s website www.nyrstar.com For personal use only For further information, please contact: Matthew Foran Manager – Stakeholder Relations Tel: +61 (03) 9288 0456 or 0409 313 637 Email: [email protected] PRESS RELEASE Nyrstar completes transfer of zinc and lead smelting assets from Umicore and Zinifex Creation of world’s largest zinc metal producer and a major lead producer Production of over one million tonnes of zinc per year 3 September 2007, Brussels, Belgium.
    [Show full text]
  • ESG Reporting by the ASX200
    Australian Council of Superannuation Investors ESG Reporting by the ASX200 August 2019 ABOUT ACSI Established in 2001, the Australian Council of Superannuation Investors (ACSI) provides a strong, collective voice on environmental, social and governance (ESG) issues on behalf of our members. Our members include 38 Australian and international We undertake a year-round program of research, asset owners and institutional investors. Collectively, they engagement, advocacy and voting advice. These activities manage over $2.2 trillion in assets and own on average 10 provide a solid basis for our members to exercise their per cent of every ASX200 company. ownership rights. Our members believe that ESG risks and opportunities have We also offer additional consulting services a material impact on investment outcomes. As fiduciary including: ESG and related policy development; analysis investors, they have a responsibility to act to enhance the of service providers, fund managers and ESG data; and long-term value of the savings entrusted to them. disclosure advice. Through ACSI, our members collaborate to achieve genuine, measurable and permanent improvements in the ESG practices and performance of the companies they invest in. 6 INTERNATIONAL MEMBERS 32 AUSTRALIAN MEMBERS MANAGING $2.2 TRILLION IN ASSETS 2 ESG REPORTING BY THE ASX200: AUGUST 2019 FOREWORD We are currently operating in a low-trust environment Yet, safety data is material to our members. In 2018, 22 – for organisations generally but especially businesses. people from 13 ASX200 companies died in their workplaces. Transparency and accountability are crucial to rebuilding A majority of these involved contractors, suggesting that this trust deficit. workplace health and safety standards are not uniformly applied.
    [Show full text]
  • Aussie Mine 2016 the Next Act
    Aussie Mine 2016 The next act www.pwc.com.au/aussiemine2016 Foreword Welcome to the 10th edition of Aussie Mine: The next act. We’ve chosen this theme because, despite gruelling market conditions and industry-wide poor performance in 2016, confidence is on the rise. We believe an exciting ‘next act’ is about to begin for our mid-tier miners. Aussie Mine provides industry and financial analysis on the Australian mid-tier mining sector as represented by the Mid-Tier 50 (“MT50”, the 50 largest mining companies listed on the Australian Securities Exchange with a market capitalisation of less than $5bn at 30 June 2016). 2 Aussie Mine 2016 Contents Plot summary 04 The three performances of the last 10 years 06 The cast: 2016 MT50 08 Gold steals the show 10 Movers and shakers 12 The next act 16 Deals analysis and outlook 18 Financial analysis 22 a. Income statement b. Cash flow statement c. Balance sheet Where are they now? 32 Key contributors & explanatory notes 36 Contacting PwC 39 Aussie Mine 2016 3 Plot summary The curtain comes up Movers and shakers The mining industry has been in decline over the last While the MT50 overall has shown a steadying level few years and this has continued with another weak of market performance in 2016, the actions and performance in 2016, with the MT50 recording an performances of 11 companies have stood out amongst aggregated net loss after tax of $1bn. the crowd. We put the spotlight on who these movers and shakers are, and how their main critic, their investors, have But as gold continues to develop a strong and dominant rewarded them.
    [Show full text]
  • The Mineral Industry of Australia in 2012
    2012 Minerals Yearbook AUSTRALIA U.S. Department of the Interior February 2015 U.S. Geological Survey THE MINERAL INDUSTRY OF AUSTRALIA By Pui-Kwan Tse Australia was subject to volatile weather in recent years Government Policies and Programs that included heavy rains and droughts. The inclement weather conditions affected companies’ abilities to expand The powers of Australia’s Commonwealth Government are their activities, such as port, rail, and road construction and defined in the Australian Constitution; powers not defined in the repair, as well as to mine, process, manufacture, and transport Constitution belong to the States and Territories. Except for the their materials. Slow growth in the economies of the Western Australian Capital Territory (that is, the capital city of Canberra developed countries in 2012 affected economic growth and its environs), all Australian States and Territories have negatively in many counties of the Asia and the Pacific region. identified mineral resources and established mineral industries. China, which was a destination point for many Australian Each State has a mining act and mining regulations that mineral exports, continued to grow its economy in 2012, regulate the ownership of minerals and the operation of mining although the rate of growth was slower than in previous years. activities in that State. The States have other laws that deal with As a result, Australia’s gross domestic product (GDP) increased occupational health and safety, environment, and planning. at a rate of 3.1% during 2012, which was higher than the All minerals in the land are reserved to the Crown; however, 2.3% rate of growth recorded in 2011.
    [Show full text]
  • MMG Rosebery 14 July 2015 History of Rosebery
    MMG Rosebery 14 July 2015 History of Rosebery 1893 • Tom McDonald discovered alluvial gold with boulders of zinc-lead sulphide. 1920 • Rosebery and Hercules Mines purchased by the Electrolytic Zinc Company of Australasia Limited. (EZ). 1927 • Construction of Rosebery Mill begins. 1936 • Production started in February – Mill capacity was 15 tonnes/hour. 1961 • Mill capacity was 30 tonnes/hour. 1963 • Murchison Highway completed. 2003 • Breakthrough of surface decline allowing trucking of ore to surface. 2004 • Transition from Pasminco to Zinifex Ltd., becoming one of Australia’s leading companies in mining and producing zinc, lead, copper, gold & silver. 2008 • Zinifex Ltd and Oxiana merged into OZ Minerals. 2009 • MMG – Minerals & Metals Group. 2011 • 75 years of continuous mining and milling at Rosebery. 2 Overview Location: Tasmania, Australia Ownership: 100% MMG Mine: Underground (sublevel open stope – Transverse, Longitudinal and slashing stoping) Throughput: 0.95 Mtpa, mine, crush, grind, float Product: Zinc concentrate, Lead concentrate, Copper 2014 Revenue by commodity concentrate, Dore gold/silver. 3% 16% 12% Mine Life 2023 17% 52% Copper Gold Silver Zinc Lead 3 Site Layout – Proximity to township 3 1. Portal. 2. Concentrator. 6 3. Filter Plant & Train Loading 2 1 Station. 5 4 4. Administration Building. 5. Old 3 Level Open cut. 7 6. Waste Rock Dump. 7. Rosebery1 Hospital. Geology – Volcanogenic Massive Sulphide (VMS) deposit Characteristics of VMS Deposits Trilobite Size <1Mt to 50Mt to giant deposits (500Mt) e.g. Kidd Creek, Brunswick 12, Neves Corvo Polymetallic, Rosebery -Zn, Pb, Cu, Host Au, Ag Stacked Deposits, Repetition through rock sequence Occur as clusters within belts (3 to 6 km separation) Mt Read Volcanics of Tasmania, Iberian Pyrite Belt, Green Tuff Belt of Japan Present day analogue of VMS deposits are Black Smokers 5 Geology – Volcanogenic Massive Sulphide (VMS) deposit Size - >50Mt of massive to disseminated sulphide.
    [Show full text]
  • Business Leadership: the Catalyst for Accelerating Change
    BUSINESS LEADERSHIP: THE CATALYST FOR ACCELERATING CHANGE Follow us on twitter @30pctAustralia OUR OBJECTIVE is to achieve 30% of ASX 200 seats held by women by end 2018. Gender balance on boards does achieve better outcomes. GREATER DIVERSITY ON BOARDS IS VITAL TO THE GOOD GOVERNANCE OF AUSTRALIAN BUSINESSES. FROM THE PERSPECTIVE OF PERFORMANCE AS WELL AS EQUITY THE CASE IS CLEAR. AUSTRALIA HAS MORE THAN ENOUGH CAPABLE WOMEN TO EXCEED THE 30% TARGET. IF YOUR BOARD IS NOT INVESTING IN THE CAPABILITY THAT DIVERSITY BRINGS, IT’S NOW A MARKED DEPARTURE FROM THE WHAT THE INVESTOR AND BROADER COMMUNITY EXPECT. Angus Armour FAICD, Managing Director & Chief Executive Officer, Australian Institute of Company Directors BY BRINGING TOGETHER INFLUENTIAL COMPANY CHAIRS, DIRECTORS, INVESTORS, HEAD HUNTERS AND CEOs, WE WANT TO DRIVE A BUSINESS-LED APPROACH TO INCREASING GENDER BALANCE THAT CHANGES THE WAY “COMPANIES APPROACH DIVERSITY ISSUES. Patricia Cross, Australian Chair 30% Club WHO WE ARE LEADERS LEADING BY EXAMPLE We are a group of chairs, directors and business leaders taking action to increase gender diversity on Australian boards. The Australian chapter launched in May 2015 with a goal of achieving 30% women on ASX 200 boards by the end of 2018. AUSTRALIAN 30% CLUB MEMBERS Andrew Forrest Fortescue Metals Douglas McTaggart Spark Group Ltd Infrastructure Trust Samuel Weiss Altium Ltd Kenneth MacKenzie BHP Billiton Ltd John Mulcahy Mirvac Ltd Stephen Johns Brambles Ltd Mark Johnson G8 Education Ltd John Shine CSL Ltd Paul Brasher Incitec Pivot
    [Show full text]
  • The Mineral Industry of Australia in 2008
    2008 Minerals Yearbook AUSTRALIA U.S. Department of the Interior August 2010 U.S. Geological Survey THE MINERAL INDUS T RY OF AUS T RALIA By Pui-Kwan Tse Australia was one of the world’s leading mineral producing and the Brockman iron project in the Pilbara region of Western countries and ranked among the top 10 countries in the world Australia (Australian Bureau of Agricultural and Resource in the production of bauxite, coal, cobalt, copper, gem and Economics, 2009a). near-gem diamond, gold, iron ore, lithium, manganese ore, tantalum, and uranium. Since mid-2008, the global financial Minerals in the National Economy crisis had sharply weakened world economic activities, and the slowdown had been particularly pronounced in the developed Australia’s mining sector contributed more than $105 billion countries in the West. Emerging Asian economies were also to the country’s gross domestic product (GDP), or 7.7% of the adversely affected by the sharply weaker demand for exports GDP during fiscal year 2007-08. In 2008, the mining sector and tighter credit conditions. After a period of strong expansion, employed 173,900 people who worked directly in mining and an Australia’s economic growth decreased by 0.5% in the final additional 200,000 who were involved in supporting the mining quarter of 2008. Overall, Australia’s economy grew at a rate activities. Expectations of sustained levels of global demand for of 2.4% during 2008. During the past several years, owing to minerals led to increased production of minerals and metals in anticipated higher prices of mineral commodities in the world Australia, and the mineral industry was expected to continue markets, Australia’s mineral commodity output capacities to be a major contributor to the Australian economy in the next expanded rapidly.
    [Show full text]