News: OZL Oz Minerals Makes Final Investment Decision On West Musgrave

Sept 23 (Reuters) - OZ Minerals Ltd (OZL) :

• GREEN LIGHT FOR WEST MUSGRAVE PROJECT
• MAKES FINAL INVESTMENT DECISION ON WEST MUSGRAVE
• CAPACITY TO FUND WEST MUSGRAVE NEW A$1.2 BILLION SYNDICATED FACILITY SUPPORTED BY KEY RELATIONSHIP BANKS
• FIRST CONCENTRATE TARGETED FOR H2 2025
• DEVELOP WEST MUSGRAVE COPPER-NICKEL PROJECT FOR DIRECT CAPITAL INVESTMENT OF ABOUT A$1.7 BILLION
• AVERAGE ANNUAL PRODUCTION 35,000 TPA NICKEL, 41,000 TPA COPPER IN FIRST FIVE YEARS FOR WEST MUSGRAVE
• AVERAGE ANNUAL PRODUCTION ABOUT 28,000 TPA NICKEL, ABOUT 35,000 TPA COPPER OVER 24-YEAR OPERATING LIFE FOR WEST MUSGRAVE
• ALSO CONSIDERING OPTION TO SELLDOWN MINORITY INTEREST IN WEST MUSGRAVE PROJECT TO A STRATEGIC PARTNER
• INCREASED OUR CONTINGENCY ALLOWANCE TO A$190 MILLION & CONSTRUCTION SCHEDULE ALLOWS FOR FIRST CONCENTRATE IN H2 2025