2iC Australia
2iC Australia Pty Ltd is a company built on inspiration, innovation and a drive for excellence in service, providing...
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OZ Minerals to review dividend as loss narrows sharply
Published Date: February 25, 2010
Source: theaustralian.com.au
OZ Minerals will review its no dividend policy in coming months as it holds on to $1 billion in cash and explores expansion opportunities.
Chief executive Terry Burgess, announcing the company's annual results today, said the Melbourne-based miner was still focussed on implementing the strategy he introduced three months ago, which included targeting copper acquisitions in low-risk regions. The miner today reported a $517.3 million loss for 2009, which was in line with guidance given earlier this month for a loss of between $500m and $520m. It compared to a loss of $2.5 billion in 2008...
