SYDNEY, Jan 15 (Reuters) - Shares in Oz Minerals, Australia’s third-biggest copper producer, jumped more than 17 percent on Wednesday after it forecast higher copper and gold production and lower costs this year.
The company pegged 2014 copper production at 75,000-80,000 tonnes of copper and gold production at 130,000-140,000 ounces in its annual production review. Cash production costs in 2014 are expected to be in the range of $1.15-1.25 per pound of copper, a significant reduction from $1.796 in 2013.
Oz Mineral shares were trading at A$3.60 at 2323 GMT, up 17.3 percent.
$1 = 1.1115 Australian dollars Reporting by Jane Wardell; Editing by Richard Pullin