OZ MINERALSJP Morgan Melbourne Mining Day

Terry Burgess, Managing Director and CEO

Melbourne16 October 2009

OZMINERALS.COM

2

OZ MINERALS: CURRENT STATUS

Prominent Hill copper-gold

operation

Operation

Headquarters

AUSTRALIA

Cambodia

Exploration

MARKET STATISTICSASX-listed (OZL, S&P/ASX 100).3,121m issued shares.Average turnover; 30m shares/day.Share price; A$1.30Market capitalisation; A$4 billion.

Australia68%

UK12%

Europe2%

Asia5%

N America9%

Other4%

Institutions: 60%. Retail: 40%

SHAREHOLDER BASE

115,000 shareholders

• Prominent Hill ramping-up to name-plate capacity by end of 2009.

• Feasibility study on underground expansion at Prominent Hill underway.

• Exploration accelerated at Prominent Hill and in Cambodia.

• A$1 billion cash at 30 June 2009.

• US$105m convertible note–only debt.

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COPPER: STRONG OUTLOOK

0

5

10

15

20

25

- 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000

GDP/Capita

kg/c

apita

Sth Korea China

Germany India

Japan China F'cast

COPPER INTENSITY OF USE

> Chinese and Indian demand for copper has a long way to go.

Source: World Bank, CRU

Forecast

COPPER SUPPLY/DEMAND FORECAST – LONG TERM

Source: ICSG; Brook Hunt; Citi

> Supply will be a challenge.

1998

2000

2002

2004

2006

2008

2010

e

2012

e

2014

e

2016

e

2018

e

2020

e

14

18

22

Copp

er (M

t)

Refined production Consumption demand

COPPER PRICE FORECAST – BROKER CONSENSUS

0

50

100

150

200

250

300

2009 2010 2011

USc

/lb

April

June

October

COPPER MINE PRODUCTION LOSSES FROM PLAN

'000

t

Source: Brook Hunt, Macquarie Research, June 2009

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Location: South Australia, Australia.

Ownership: 100%.

First production: February 2009, completing ramp up.

Production: 2009E

85,000t to 90,000t contained copper, 60,000oz to 70,000oz gold.

C1 costs 2009E: US$0.70 – US$0.75/lb

Plant: 8Mtpa crush, grind, flotation.

Reserves: 72.4Mt @ 1.3% Cu, 0.6g/t Au, 3.2g/t Ag.(0.95Mt Cu, 1.4Moz Au, 7.5Moz Ag)

Resources: 289Mt @ 0.9% Cu, 0.8g/t Au, 2.5g/t Ag, (2.6Mt copper, 7.6Moz gold, 23Moz silver).

Mine: Open pit, mining contractor Thiess

Product: High grade (+50% Cu), high quality, copper concentrate

Estimated mine life:

9 years for Stage 1 open pit. Potential underground or additional open pit capable of supporting mine life and throughput expansion.

PROMINENT HILL – RAMPING UP TO NAME-PLATE CAPACITY

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PROMINENT HILL SITE

TAILINGS DAM

PIT

ROM PAD

PROCESSING PLANT

VILLAGE

WESTERN COPPER ZONE

AREA

NORTHERN WASTE DUMP

SOUTHERN WASTE DUMP

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Q3 PRODUCTION

Prominent Hill – Q3 2009SEPT QTR YTD 09

Ore milled 1,734,990t 4,252,385t

Silver 134.4g/t 103.1g/tContained metal in concentrate

Copper 28,316t 59,813t

Gold 21,091oz 45,009ozSilver 220,816oz 360,241oz

Mined Ore

Milled grade

Recovery

Copper concentrate producedConcentrate grade

Total concentrate sold

Waste

CopperGoldSilverCopperGold Silver

CopperGold

Copper

1,569,800t 6,197,617t8,877,954t 27,452,300t

55,156t 91,297t

2.0% 1.9%0.6g/t 0.6g/t4.9g/t 4.4g/t

81% 76%65% 60%80% 60%

51,115t 108,678t

55% 55%12.8g/t 12.9g/t

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Feb Mar Apr May Jun Jul Aug Sep

Rec

over

y

PROMINENT HILL PLANT COPPER RECOVERY 2009

PROMINENT HILL OPEN PIT SHOWING MINING AREAS

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CONCENTRATE: HIGH GRADE, COMPETITIVE DELIVERY TIMES

High quality concentrate> Currently highest grade copper concentrate traded on the open

market – 55% copper.

> Ideal for blending with lower grade concentrates.

> Grade will vary depending on ore type – 45% Cu LOM.

> Gold content is high but variable, 19g/tAu LOM.

> Low impurities – controlled by latest technology in fine grinding – IsaMill, Jameson Cell.

Logistics> 48 hours from mine to Port of Darwin.

> 8-10 days sailing to customers.

> Storage at Port of Darwin.

Marketing> 200,000 dmt concentrate per annum.

> Deliveries to China, Europe and India.

> Small domestic tonnages.

> Spot TC’s down significantly in 2009.

> 2009 H2 TC’s mostly at term 2009 contract rates, some deliveries at spot rates

First concentrate loaded into the storage shed.

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PROMINENT HILL UNDERGROUND FEASIBILITY STUDY

Western Au

UNDERGROUND STUDIES

Western Cu resource

Central lower Cu-Au resource

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PROMINENT HILL REGIONAL TARGETS

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CAMBODIA – DRILLING IN PROGRESS

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OZ MINERALS SUMMARY

> Prominent Hill ramping up successfully.

> Prominent Hill expansion studies recommenced.

> Priority regional underground targets being tested at Prominent Hill.

> Drilling in Cambodia recommenced and good results to date.

> Strong balance sheet.

Now one of the best positioned companies in the sector.

THANK YOU Investor contact:Natalie WorleyHead of Investor and External Relationsnatalie.worley@ozminerals.com