OZ Minerals

OZ Minerals is an Australian mining company, which emerged from the merger of Oxiana Limited and Zinifex in 2008. From the merged companies comes OZ, a part of the company name.

Business

The joint stock company OZ Minerals operates the great Australian copper -gold-silver -zinc mine Prominent Hill and the Carrapateena copper-gold project in South Australia, which mines copper since 2009. In gold-copper mine area of Cobar in New South Wales, the company has a license for the exploration of deposits over 3435 km ², in Cambodia OZ Minerals an office, the deposit explorations carried out and it was acquired in February 2012, the shares of Renaissance Minerals Limited. In Santa Cruz County, Arizona in the U.S. OZ Minerals does an exploration of mineral deposits through with an option to build a mine.

History

2009 submitted to the Chinese state-owned China Minmetals an offer to take over themselves in economic difficulties OZ Minerals. This year there were several attempts Chinese mining corporations buy up large shares of stock or whole mining company in Australia, which led to discussions in Australia. Chinalco planned such as a stake in Rio Tinto Group, which led to heated public debates to demands for a ban on participation. From the OZ Minerals acquired in June 2009, the Minerals and Metals Group, a subsidiary of China Minmetals, the Golden Grove mine in Western Australia, which belonged to the OZ Minerals. Golden Grove was part of a purchase of Sepon, Century, Rosebery and Avebury mines, the Dugald River, High Lake and Izok Lake projects of OZ Minerals, as well as some deposit exploration projects worth U.S. dollar 1.354 billion by the China Minerals. However, the Australian government declared on 27 March 2009, a ban on the sale of Prominent Hill mine, which is owned by OZ Minerals. This was justified because of national security because the mine is located in a closed military zone, the Woomera Prohibited Area. It is hypothesized that this would lead to resentment between Australia and China. However, the Chinese side stressed that she understands this decision. OZ Minerals Prominent Hill could continue and was of 1.354 billion cash back after the receipt of the purchase price.