OZ Minerals Share Price Slightly Dips

Despite their slight dip of 0.64% in share value, Oz Minerals Limited [ASX:OZL] are trading at $9.41 a share. This is a significant increase from last year’s trading prices.

OZ Minerals market cap stands at $2.793 billion. They primarily focus on exploration, development, mining and processing of mining projects across Australia.

They are mainly focused in valuable minerals, while holding ownership of its Prominent Hill mine in South Australia.

How are Oz Minerals tackling the market?

Recently, BHB Billiton Limited announced they would block Oz Minerals from gaining access to its infrastructure in 2020.

OZ Minerals will be working with other energy developers to put their future strategy in play.

They are planning to develop a 270km transmission line at its Prominent Hill and Carrapateena mine.

Oz Minerals recent ASX release states that they are focusing on securing current assets while pushing fourth future growth.

They have implemented phases in a new power transmission, part of the first phase is the 270 KM power line.

Further options and decreasing debt

Over the years OZ Minerals has managed to pay consistent dividends, while also spending millions of dollars on its Carrapateena copper project.

Financial review reported that Oz Minerals managing director Andrew Cole stated:

We are very clear for what the capital requirement for Carrapateena is, we are very clear on what the cash flow from Prominent Hill is going to be and what our growth pipeline is going to be, so whilst we have been very consistent in paying dividends through the period of the past few years, it is now time to revisit that.

Oz managed to free themselves of debt while holding an overall cash balance of $729 million back in late December 2017.

Mr Cole believes their stable financial position will allow future progress growth and reward shareholders.


Ryan Clarkson-Ledward,
For Markets & Money

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Ryan Clarkson-Ledward is a junior analyst for Markets & Money. Ryan has degrees in both communication and international business. His priority is bringing you the latest price updates on stocks through ASX updates, as well as supporting Sam Volkering with background research. As part of the team at Markets & Money his aim is to provide unbiased and relevant news for readers. Ryan’s work with Sam is designed to provide research that complements Sam’s analysis for small-cap and technology stocks. Together, their objective is to break through all the jargon and give you the hard facts to inform your investment decision-making. Ryan writes for:

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