Oz Minerals on acquisition trail

Oz Minerals is looking for acquisitions as it prepares to undertake a major restructure that will see it focus on its copper operations.

Copper and gold miner Oz Minerals is on the hunt for acquisitions as part of a major restructure.

The company says it will focus on its copper operations, cut costs and target acquisitions in Australia and overseas as part of a revamp centred on value creation.

Details of the restructure were revealed as Oz Minerals reported it had lifted copper production to 31,160 tonnes in the March quarter, up from 26,002 tonnes a year ago.

Gold production dipped to 32,874 ounces from 36,288.