The challenges for OZ Minerals

The mining group is trading well below its net asset value, and faces continuing losses.

I have been investing in OZ Minerals (OZL) for a long time. From 2004 to 2007 Zinifex was one of my best performing investments, rising from $2 to $20. In 2008, Zinifex merged with Oxiana to form OZ Minerals, which at the time was a copper and zinc miner with multiple mines.

It was not long after the merger that OZ Minerals ran into serious financial difficulty, and most of the existing OZ Minerals mines were sold to China Minmetals.

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