OZ Minerals Limited and Cassini Resources Limited announced the results of the West Musgrave, Nebo-Babel Pre-Feasibility Study (PFS). The project is a joint venture between OZ Minerals (70%) and Cassini (30%) in Western Australia. The PFS has demonstrated a long life 26-year open pit copper and nickel sulphide mine.

It is the first development opportunity within the broader West Musgrave province which includes a number of additional highly prospective opportunities including the nearby Succoth copper deposit. A Maiden Probable Ore Reserve of 220Mt at 0.36% Cu and 0.33% Ni was also declared, representing 22 years of the 26-year life of mine (LOM) demonstrated in the PFS (with the balance of the mine life underpinned by a combination of Indicated and Inferred Mineral Resource). Critical path activities are continuing whilst the project is being assessed under the OZ Minerals' capital allocation framework.

The PFS now gives the partners a solid platform for engaging with potential lenders and advisors on how best to fund and structure the project prior to moving to the next phase.