News: OZL OZ Minerals updates on class action proceedings filed by former Zinifex shareholders

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