OZ Minerals buys Carrapateena copper for US$250m
- Publishing Date
- 09 Mar 2011 11:05am GMT
- Author
- Mining Journal
OZ Minerals Ltd has acquired Carrapateena copper, a project in South Australia, for US$250 million.
The asset is controlled by Rudy Gomez with 58%, with the remaining interest held by Tech Australia Ltd with 34% and various minorities.
OZ operates the Prominent Hill copper mine, which started producing first copper-gold concentrate in February 2009. It is located about 250km to the north west of Carrapateena.
The company also owns about 19% of Sandfire Resources NL, about 42% of Toro Energy and some 13% of IMX Resources Ltd along with various other listed investments.
Chief executive officer, Terry Burgess said the project has the potential to produce between 50,000t/y and 150,000t/y of copper.
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