OZ Minerals Limited (OZL) expects to post a full year net loss of $500 million to $520 million when it reports its audited financial results on 25 February 2010. In its preliminary and unaudited estimates for the year ended 31 December 2009 the gold and copper miner forecast its sole mining operation Prominent Hill to post a NPAT of $190 million to $210 million.

However, the company forecast a $160m-$180m loss from other continuing operations and $520m-$555m loss from discontinued operations.

OZ Minerals also forecast EBITDA of $370m to $390m and revenue of $600m to $620m from Prominent Hill.

Managing director and CEO, Terry Burgess, said he was pleased with the performance of Prominent Hill during 2009 with over 96,000 tonnes of copper and 75,000 ounces of gold produced at a C1 cash cost of US70.7cents/pound of copper.

”The estimated EBITDA of $370-390 million and NPAT of $190-210 million is an outstanding outcome for the operation in its commissioning year,” he said.

As at 1531 AEDT, OZ Minerals shares were down 0.5c to 98.5c.