Oz Minerals hedges gold bets at Prominent Hill

April 26, 2016

Responsive image

Copper-gold miner Oz Minerals has hedged a portion of the gold contained within stockpiles at its Prominent Hill mine, in South Australia, to take advantage of Australian gold prices, which were at a near 15-year high.

The miner told shareholders on Wednesday that the Prominent Hill stockpiles was estimated to contain some 370 000 oz of gold, and represented significant value for the company, as it had already been mined and contained known grades.

Category: General