OZ Minerals

OZ Minerals is a mining company based in Adelaide, South Australia. Formerly listed on the Australian Securities Exchange, it was acquired by BHP in April 2023.[1]

OZ Minerals
TypeSubsidiary
IndustryMining
Founded1 July 2008
HeadquartersAdelaide, Australia
Key people
Rebecca McGrath (Chair)
Andrew Cole (Managing Director)
ProductsCopper, Gold
Revenue$2.1 billion (2021)
$1.2 billion (2021)
$531 million (2021)
ParentBHP
Websitewww.ozminerals.com

History

OZ Minerals was formed on 1 July 2008 when Oxiana and Zinifex merged.[2][3]

In February 2009 a takeover offer by China Minmetals was recommenced for acceptance by Oz Mineral's board of directors.[4] The proposal was one of three high-profile moves by Chinese firms to acquire stakes in the Australian mineral sector in early 2009.

The China Minmetals offer along with other proposed purchases, especially the stake in Rio Tinto planned by Chinalco, caused great public furore, adding political pressure to block Minmetals.

In March 2009 the Government of Australia blocked the sale, citing national security concerns about the proximity of the Prominent Hill Mine to the RAAF Woomera Range Complex.[5] A revised deal that excluded Prominent Hill was approved in April 2009.[6]

In June 2009 China Minmetals' Australian assets were spun off to form MMG.[7][8] The Martabe gold project in Indonesia was sold to China Sci-Tech Holdings in the same month.[8][9]

In 2015, with its activities concentrated on the Prominent Hill mine and the nearby Carapateena prospect in South Australia, OZ Minerals moved its headquarters from Melbourne to Adelaide.[10][11] in 2016, OZ Minerals commenced construction of its Carapateena mine.[12]

In April 2023, Oz Minerals was taken over by BHP and delisted from the Australian Securities Exchange.[13][14][15]

Operations

Current

Former

References
  1. "Completion of OZ Minerals acquisition". BHP. Retrieved 18 August 2023.
  2. Zinifex, Oxiana merge into OZ Minerals Sydney Morning Herald 16 June 2008
  3. Implementation of Ziniflex/Oxiana Scheme of Arrangement Zinifex 1 July 2008
  4. Recommended 82.5 Cents per Share All Cash Offer for Oz Minerals by Minmetals Oz Minerals 16 February 2009
  5. Wassener, Bettina (27 March 2009). "Australia Blocks China's Purchase of Mining Company". New York Times.
  6. China's Minmetals wins approval for Oz deal Financial Times 12 April 2009
  7. "Minmetals launches new company amid flat demand". ABC News. 18 June 2009.
  8. Tasker, Sarah-Jane, OZ gets good news with green light for gold project sale. The Australian, 26 June 2009.
  9. OZ to sharpen Prominent Hill focus The Advertiser 30 June 2009
  10. Richardson, Tom, State Govt attracts miner in $10m deal InDaily, 28 January 2015. Retrieved 14 September 2022.
  11. Nicholson, Lee, Oz Minerals officially stakes its claim in Adelaide InDaily, 17 December 2015. Retrieved 14 September 2022.
  12. Opie, Rebecca, Carrapateena Mine construction officially launched in outback South Australia ABC News, 3 November 2016. Retrieved 14 September 2022.
  13. Court approves Oz Minerals scheme of arrangement BHP 17 April 2023
  14. Scheme of Arrangement becomes effective Oz Minerals 18 April 2023
  15. Vast majority of Oz Minerals jobs in SA to stay after BHP takeover InDaily 18 April 2023
  16. Antas Mine OZ Minerals. Retrieved 28 January 2021.
  17. Carrapateena Mine OZ Minerals. Retrieved 28 January 2021.
  18. Prominent Hill Oz Minerals
  19. Minmetals Succeeds in Oz Minerals Deal Minmetals 11 June 2008
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