Tag: Carrapateena project

OZ Minerals: A Year of Delivery

OZ Minerals: A Year of Delivery

Carrapateena airstrip. All images: OZ Minerals BY JESSICA CUMMINS ON the back of a productive year, OZ Minerals remains focussed on developing one of Australia’s largest copper gold resources, Carrapateena, with first concentrate scheduled in 2019. As the Adelaide-based miner moves its Carrapateena project towards production, a number of key activities remain on the table. After injecting $85 million into the project during the September quarter, the miner saw the completion of its first ventilation raisebore and commenced development on the crusher level. OZ Minerals chief executive Andrew Cole said flights to the site had begun and construction of all 556 rooms at the Tjungu accommodation village were also completed. “The mineral processing plant and non-processing infrastructure construction is continuing...

No dividend as NRW doubles revenue

No dividend as NRW doubles revenue

NRW said it had strong order book growth prospects. Image: NRW Holdings. BY CAMERON DRUMMOND MINING services contractor NRW Holdings has decided against an interim dividend, despite the business continuing to “meet or exceed our expectations”, securing contracts and contract extensions across all its businesses. The company almost doubled its yearly revenue to $345.3 million and increased profit from $11.9m to $15.3m. Last year, the company acquired east coast mining services business Golding for $85m, funded by a capital raising and debt facility. Because of this, the company decided to retain its cash balances and not pay an interim dividend to ensure its debt was fully serviced. It has not paid out to shareholders since a fully franked interim dividend...