Oz Minerals released its Q3 FY2022; Shares down on ASX

Oz Minerals Limited (ASX: OZL) has released its Q3 FY2022 results. During the quarter, the Company produced 30,012 tonnes of copper, which was 33,794 tonnes in the previous corresponding period. Total gold production reduced from 65,932 ounces in Q3 2021 to 56,334 ounces in Q3 2022.

Operational Highlights:

1. OZL’s major operations, Carrapateena and Prominent Hill, are witnessing the results of improvement programs implemented to address an interrupted first half subsequent COVID absenteeism, underground conveyor breakdown coupled with supply chain interruptions which impacted site operations and production.

2. The Company noted an improvement in production performance month on month improvements at Carrapateena. There is an improvement in mining performance, driven by the focus on continuous material flow and equipment availability.

3. Also, the Company witnessed that improvement and operational consistency returned during the quarter. September 2022 was the highest underground ore movement month on record after COVID-related operator and maintainer shortages in July and into August.

At AEDT 12:17 PM, OZL shares are trading at AU$25.195, down 0.846% from the previous close. 

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