REFILE-UPDATE 1-Oz Minerals posts H1 pro forma profit

(Refiles to remove extraneous material at end) (Adds details, company comment)

SYDNEY, Aug 21 (Reuters) - Australian miner Oz Minerals (OZL.AX), formerly Oxiana, on Thursday reported a first-half net loss of A$543,000, a figure that excluded the impact of its just-completed takeover of Zinifex, and signalled a tough second half ahead as commodities prices recoil.

On a pro-forma basis, the newly merged entity, now the world's second larget zinc miner, showed a net profit of A$70.9 million ($62 million) for the six months to June 30.

The merger of Oxiana and Zinifex took effect on July 1, bringing together, copper, zinc, nickel and gold mines in Australia and Southeast Asia.

Oz Minerals said that while the short-term outlook remained challenging, longer term the market for its commodities was still robust.

In the first 50 days, Oz Minerals said it saw A$27.5 million in savings from shared operations, partly offsetting A$41.4 million in integration costs.

Commodities prices have retreated, after a record-breaking run up earlier this year and in 2007, as concerns of a slowdown in global industrial activity mounted.

Zinc and nickel, two mainstays of Oz Minerals activities, have recoiled sharply, while copper and to a lesser extent gold, have performed better.

Oz Minerals also cited a stronger Australian dollar as a weight on first-half earnings as it meant it received less for its export sales.

However since mid-July the Australian dollar has lost about 10 percent of its value against the U.S. dollar. ($1=1.15 Australian Dollar) (Reporting by James Regan)