OZ Minerals Limited
(ASX:OZL) full year net profit has slumped 44.6 per cent to $152 million.
The result has been attributed to reduced copper prices, lower copper and gold sales and a draw-down of ore and concentrate stockpiles.
The miner was hit by higher costs due to increased material movement, while also increasing its expenditure on exploration at its Carrapateena project in South Australia.
Oz says its cash balance as at the end of December was $659 million.
The company will pay an unfranked dividend of 20 cents per share, taking its total 2012 shareholder payout to 30 cents.
