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Mining company on track to hit targets

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Local mining company OZ Minerals (ASX: OXL) says it is likely to reach its full-year copper and gold production targets after posting a lift in output for the first quarter.

For three months to March 31, the Melbourne-based company posted copper production at its Prominent Hill mine of 27,182 tonnes – up from 26,802 tonnes in the December quarter.

OZ says gold production was 38,887 ounces for the quarter, up from 37,814 ounces the previous quarter.

Copper and gold production is on track to meet the company’s 2012 guidance of about 105,000 tonnes of copper and 140,000 ounces of gold.

The company says its costs were in line with expectations. See the full quarterly results report.

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