Oz lowers gold output forecast, copper on target

Copper-gold miner Oz Minerals has downgraded its gold expectations for the full 2016, following the blackout at its Prominent Hill mine, in South Australia, in September, and the preferential treatment of copper ore. While the miner has previously warned that gold production would be at the lower end of its guidance of between 125 000 oz and 135 000 oz for the 2016 financial year, Oz Minerals on Friday revised this expected output to between 115 000 oz and 120 000 oz.