OZ Minerals (ASX:OZL) sees no material impacts at mine sites - Sequoia Direct Pty Ltd

15AprApril 15, 2020

OZ Minerals (ASX:OZL) sees no material impacts at mine sites

OZ Minerals (ASX:OZL) has reported that despite the recent COVID-19 crisis, the company has not experienced any material production impacts at its mine sites this year and the relocation of workers within their Prominent Hill and Carrapateena sites are steady.

In light of the pandemic and travel restrictions, the company says it took an extensive review of all growth, exploration and other expenditure with overall 2020 cash spend reduced by $150 million to further strengthen the OZ Minerals financial position.

Managing Director and CEO Andrew Cole added an extension of the revolving credit facility to $480 million provides an additional liquidity buffer should it be required.

Shares in OZ Minerals (ASX:OZL) are trading 2.6 per cent higher at $8.74.

Copyright 2020 – Finance News Network

Source: Finance News Network

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