Miner Oz Minerals Lts
(ASX:OZL) has reported a jump in gold production for the three months ending 30 June 2010.
Because of the result the company now expects annual gold production of between 140,000 to 150,000 ounces for 2010, compared to previous guidance of 110,000 to 120,000 ounces.
Oz Minerals says gold production was particularly strong, with the miner producing 49,429 ounces of gold and 28,236 tonnes of copper in the three months to June.
The company yesterday announced it has approved the development of an underground mine at Prominent Hill to commence in October, with the first ore to be mined in 2011.
Oz Minerals reported a loss of $517.3 million for the year ending 30 December 2009.
