• Most Popular
  • Most Shared

Oz Minerals warns on profit, possible writedowns

Tue Nov 18, 2008 6:51pm EST

Stocks

   

SYDNEY, Nov 19 (Reuters) - Oz Minerals Ltd (OZL.AX), the world's second-largest zinc miner and a major supplier of copper, lead and nickel to China, warned investors on Wednesday of lower profits and possible asset writedowns. The company, already embarked on a review of operations amid sharply lower metal prices and tighter credit markets, said it would also now review the book value of its assets, including shareholdings in Toro Energy (TOE.AX) and Nyrstar (NYR.BR).

China

Oz Minerals, which was recently formed out of the merger of Oxiana and Zinifex, added that it would report lower earnings in 2008 on a pro-forma basis.

(Reporting by Mark Bendeich; editing by James Thornhill)

China


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets