OZ Minerals Limited
(ASX:OZL) has booked a full year net loss of $295 million and announced its CEO and Managing Director Terry Burgess will leave the company within the year.
The gold and copper miner’s result was impacted by a fall in production and commodity prices which contributed to $231.9 million of asset write-downs on its Prominent Hill operations.
Oz Minerals says it will now embark upon a staged succession planning process to facilitate an orderly leadership change within the next twelve months.
Chairman Neil Hamilton says Terry Burgess will play a vital role in the transition and ensure a smooth and seamless handover at the right time.
A final dividend of 10 cents per share has been declared, matching the last interim dividend and taking the full year pay out to 20 cents.
