OZ Minerals

Equities

OZL

AU000000OZL8

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OZ Minerals : Carrapateena underground mining services to transition to Byrnecut

January 20, 2021 at 10:27 am EST

OZ Minerals Limited (OZ Minerals, ASX: OZL) today announced the signing of an agreement with Byrnecut Australia for the delivery of underground mining and associated mining services at its Carrapateena mine.

Byrnecut has been the underground mining services contractor at Prominent Hill for the past 10 years.

The change in provider follows a review of the mining contract with incumbent provider, Downer EDI Limited (Downer ASX: DOW) which is divesting its mining services businesses as part of a broader portfolio review. The five-year alliance-style contract with Byrnecut Australia is valued at circa $130 million per year .

Byrnecut will commence a seven-week mobilisation to the Carrapateena site on 20 January 2021 and assume full responsibility for mining services delivery from 4 March 2021.

OZ Minerals, Byrnecut and Downer will work together during the transition period to ensure continuity of operational performance and development, and employee support and opportunities, with the objective of providing roles for the majority of the incumbent underground workforce. This transition will include the transfer of equipment from Downer to Byrnecut.

Byrnecut will now provide underground mining services to both the Carrapateena and Prominent Hill mines. Byrnecut is a proven top tier underground mining contractor who has been providing underground mining services to Prominent Hill for the past 10 years, with their Prominent Hill contract having been renewed in 2020.

OZ Minerals thanks Downer for the work undertaken over the past two and a half years, and for their major contribution in reaching development milestones at Carrapateena.

Scope of work

Comprises all underground mining activity for the duration of the contract including: production and development mining and associated mining services bedding in steady-state operations at nameplate site capacity

About the contract

The contract is an alliance-style of contract and is valued at circa $130 million per year and is for five years.

About Byrnecut

Byrnecut is an internationally renowned specialist underground mining contractor offering a unique range of services and depth of experience.

This announcement is authorised for market release by OZ Minerals' Managing Director and CEO, Andrew Cole

Contact:

Tel: 61 8 8229 6622

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Company Profile

OZ Minerals Limited is engaged in the mining and processing of ore containing copper, gold and silver; sales of concentrate; undertaking exploration activities and the development of mining projects. Its segments include Prominent Hill, Carrapateena, Carajas, West Musgrave and Exploration & Development. Prominent Hill segment is engaged in mining and processing underground ore containing copper, gold and silver along with residual lower grade open pit ore from stockpiles. Carrapateena segment is engaged in mining and processing underground ore containing copper, gold and silver. Carajas segment is engaged in mining ore containing copper and gold from the Pedra Branca underground mine and processing. West Musgrave segment is engaged in development associated with the West Musgrave Project, which is a greenfield copper and nickel mining and processing project. Exploration & Development segment is engaged in the exploration and evaluation activities associated with other projects.

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