OZ Minerals Limited (ASX:OZL) has issued a profit warning and cited lower than expected copper and gold prices among the reasons for the anticipated hit.
The mining company expects to book a non-cash charge for asset impairment of between $200 million and $240 million after tax in the first half.
Oz Minerals has blamed the charge on a range of factors including declining prices for its main products and development work at its South Australian operations.
The charge is still pending board approval and an auditors' review ahead of the company releasing its results on August 14, 2013.
The news comes less than one week after Oz Minerals cut its annual gold production guidance after revealing a drop in second quarter gold production.
Oz Minerals net profit dropped 45 per cent to $152 million in the 2012 financial year.
