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Managing Director & Chief Executive Officer
OZ Minerals
Valued at $3.284 Billion
(source http://investsmart.com.au )
BAppSc (Hons) in Geophysics
Andrew is a Councilor of SACOME (South Australian Chamber of Mines and Energy).
Operation Focus: Carrapateena Project
Sitting on a $3.284 Billion market value and having $910 Million already approved, Carrapateena Project is Australia’s largest undeveloped copper-gold deposit. Andrew is leading his Oz Minerals team towards one of the remarkable expansion programs in South Australia. The Carrapateena Project will be a 4.25 Mtpa underground operation, with an estimated mine life of 20 years and commissioning is set for Q4 in 2019 employing sublevel caving mining method.
Infrastructure on site will include an accommodation village, airstrip, processing plant and tailings storage facility. Feasibility Studies confirmed economic robustness of the Project with NPV ~ $910 million, an internal rate of return of 20%, average annual net cashflow of $265 million, Life of Mine annual metal production of 65,000 t Copper and 67,000 oz Gold a ta a Life of Mine all-in- sustaining costs of ~ US 99c/lb.
On Wednesday Andrew revealed how an early-life change of mining techniques at Carrapateena, which will enter production on schedule in the December quarter, will reduce production costs by at least 10 per cent and trim all-in sustaining costs by a minimum of 9.5 per cent, while increasing life-of-mine copper output by about 40 per cent.
Oz Minerals is mulling spending an extra $1.3 billion on Carrapateena copper project which would more than double output from 2026, as it examines the potential of expanding it using a “block cave” approach, allowing access to more higher-grade copper. In our next article on OZ Minerals, we will dig more to understand more about this Executive and how he leads one of the biggest investments in South Australia.