June 15 (Reuters) - OZ Minerals Ltd (OZL) :
- Class action settlement
- Has reached a binding agreement to settle the class action proceedings that commenced in the Federal Court Of Australia on 25 February 2014
- Settlement was agreed to avoid the litigation risk and significant expense of a lengthy trial
- Class action proceedings were filed by former Zinifex shareholders who held Zinifex shares on 1 July 2008
- Agreed settlement amount is $32.5 million of which Oz minerals' net contribution to settlement is $24 million
- Settlement payment will be recorded in 2016 FY results, settlement expected to occur in second half of financial year