OZ Minerals annual copper production remains on target, despite a drop in production for the 3 months to the end of September.

OZ Minerals said that Q3 copper production totaled 27,217 tonnes down from 28,017 tonnes in the previous corresponding period. With 80,942 tonnes produced in calendar year 2011 so far, the company is on track to meet guidance of 100,000 tonnes to 110,000 tonnes for the full year. Gold production in the three months to September was 36,064 ounces down from 44,219 ounces in the previous corresponding period.

OZ Minerals' focus remains on successful production of copper and gold ore was reduced at times to accommodate copper ore in order to achieve copper targets. Anticipated gold production in 2011 is expected to be between 150,000 ounces and 160,000 ounces.

Silver production in the 3 months to September was 167,620 ounces up from 152,467 ounces in the previous corresponding period. Cash costs in the three months to September were 71.8 US cents per pound higher than in the June quarter due to higher mining costs. Year to date costs are 65.9 US cents per pound and full year costs are expected to average less than 70 US cents per pound.

(Sourced from AAP)