OZ Minerals Limited
(ASX:OZL) has cut its annual gold production guidance as it revealed a fall in second quarter gold production.
The mining company now expects to deliver between 120,000 to 130,000 ounces of gold over the year after achieving 31,018 tonnes of gold production in the June quarter.
OZ Minerals has confirmed its copper production guidance of between 82,000 to 88,000 tonnes after delivering 17,379 tonnes of copper in the last quarter.
The company says this quarter’s lower production level was because of the slip experienced in the overburden of the south wall in the open pit.
As a result OZ Minerals expects production for the year to be weighted to the second half.
Oz Minerals net profit fell 45 per cent to $152 million in the 2012 financial year.
