Oz Minerals Limited
(ASX:OZL) have announced a new company strategy following the completion of a business review.
The company will cut the fat from its core business and move forward with a new, smaller team.
Corporate headquarters will relocate to Adelaide in a new strategic partnership with the South Australian government.
The company has divested it's 19 per cent stake in Sandfire Resources for $125 million and suspended its Freemantle Doctor exploration project.
The company also announced strong Q1 production and says it should deliver cost savings of around $44 million.
Oz Minerals reported a net profit of $48.5 million for the 2014 calendar year.
