Iron ore miner Oz Minerals Ltd
(ASX:OZL) says full year production has exceeded its expectations following a very successful first year of operations at Prominent Hill.
The miner produced 36,497 tonnes of copper and 30,526 ounces of gold in the last quarter of the year taking the full year output of copper to 96,310 tonnes and 75,535 ounces of gold.
This compares to the company’s previous guidance of between 85,000 and 90,000 tonnes of copper and 60,000 to 70,000 ounces of gold.
Oz also produced 339,937 ounces of silver in the December quarter taking the full year result to 700,177 ounces.
Looking ahead the company is forecasting production of between 100,000 and 110,000 tonnes of copper and between 80,000 and 90,000 ounces of gold a year for 2010 through to 2012.
Oz Minerals posted a $2.5 billion loss for 2008.
