OZ Minerals Limited
(ASX:OZL) first half net profit has sank 72 per cent to $113.9 million.
The copper and gold miner’s result was weighed down by rising costs, declining production, accounting changes and a strong Australian dollar.
The company also paid $60 million in May to settle two class actions brought against it by shareholders.
Looking ahead, OZ Minerals has maintained a positive outlook for copper and gold, the price of both hitting record highs this year.
An unfranked interim dividend of 30 cents per share has been declared, in line with the year before.
In the 2010 calendar year, Oz Minerals recorded a net profit of $586.9 million.
