BRIEF-Oz Minerals Makes Final Investment Decision On West Musgrave

Reuters2022-09-23

Sept 23 (Reuters) - OZ Minerals Ltd :

* GREEN LIGHT FOR WEST MUSGRAVE PROJECT

* MAKES FINAL INVESTMENT DECISION ON WEST MUSGRAVE

* CAPACITY TO FUND WEST MUSGRAVE NEW A$1.2 BILLION SYNDICATED FACILITY SUPPORTED BY KEY RELATIONSHIP BANKS

* FIRST CONCENTRATE TARGETED FOR H2 2025

* DEVELOP WEST MUSGRAVE COPPER-NICKEL PROJECT FOR DIRECT CAPITAL INVESTMENT OF ABOUT A$1.7 BILLION

* AVERAGE ANNUAL PRODUCTION 35,000 TPA NICKEL, 41,000 TPA COPPER IN FIRST FIVE YEARS FOR WEST MUSGRAVE

* AVERAGE ANNUAL PRODUCTION ABOUT 28,000 TPA NICKEL, ABOUT 35,000 TPA COPPER OVER 24-YEAR OPERATING LIFE FOR WEST MUSGRAVE

* ALSO CONSIDERING OPTION TO SELLDOWN MINORITY INTEREST IN WEST MUSGRAVE PROJECT TO A STRATEGIC PARTNER

* INCREASED OUR CONTINGENCY ALLOWANCE TO A$190 MILLION & CONSTRUCTION SCHEDULE ALLOWS FOR FIRST CONCENTRATE IN H2 2025

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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