Barry Cusack, previously chairman of Oxiana, is chairman of OZ Minerals, and Andrew Michelmore, previously CEO and managing director of Zinifex, is CEO. Owen Hegarty, previously managing director and CEO of Oxiana, is a director and chairman of the integration committee of the merged company. The board of OZ Minerals includes all of the previous directors of both companies.

OZ Minerals is headquartered in Melbourne, has more than 8,000 employees (including contractors) worldwide, and has a market cap of about A$9 billion, making it the third largest diversified mining company listed in Australia, behind BHP Billiton and Rio Tinto. Its operating assets include Zinifex’s Century zinc-lead mine in Queensland and Rosebery base and precious metals mine in Tasmania and Oxiana’s Golden Grove base and precious metals mine in Western Australia and Sepon gold and copper mines in Laos. The merged company becomes the world’s second largest producer of mined zinc. In 2007, the combined production of the two companies included 743,000 mt of zinc in concentrates, 62,500 mt of copper cathode, 17,000 mt of copper in concentrates, 73,400 mt of lead in concentrates, 10.3 million oz of silver and 183,000 oz of gold.

OZ Minerals development projects include Oxiana’s Prominent Hill coppergold mine in South Australia, where construction is under way, and its Martabe gold project in Indonesia. Prominent Hill is scheduled to begin concentrate production toward the end of 2008 and, after a short ramp-up period, is expected to produce 117,000 mt of copper and 86,000 oz of gold in 2009 (the first full year of production). Prominent Hill has an initial mine life of 10 years. Further discoveries have indicated the potential to extend the mine’s life and expand production, and expansion studies are underway. The Martabe project is planned to start up in 2010 and produce 200,000 oz/y of gold and 2 million oz/y of silver over an initial nine-year mine life.

The Zinifex Dugald River deposit in Queensland is one of the world’s most significant undeveloped lead and zinc deposits. A feasibility study was begun in early 2007 and is on track for completion in late 2008. Dugald River is expected to produce over 200,000 mt/y of zinc for at least 15 years.

Also from Zinifex, Izok Lake and High Lake are high-grade undeveloped copper and zinc deposits located in the Nunavut region of Canada. A prefeasibility study for Izok Lake is due to commence in 2008, with first concentrate production expected in 2014 and an expected mine life of 10 years. Development at High Lake is expected to take place after Izok Lake development is complete, with expected production in 2016 and an expected mine life of 12 years.

Oxiana exploration projects at varying stages of maturity are in progress in Laos, Thailand, Cambodia, China, and Australia.

The Zinifex exploration portfolio includes projects in Australia, Sweden, Mexico, Tunisia, and China, as well as extensive exploration activities around its existing Rosebery and Century mines.”