OZ Minerals beats gold production forecast

Copper buyers are seeking longer-term supply contracts from miners like OZ Minerals as the market for the red metal draws closer to a long-predicted shortage.

Prices for copper have surged 18 per cent over the past six months to the highest in nearly 3½ years on the back of strong demand in China, industrial disputes at mines in Chile, permitting disputes at mines in Indonesia and declining grades across much of the industry.