Miner OZ Minerals says it will focus on expanding its Prominent Hill mine, after announcing it had completed the sale of its Martabe gold and silver project in Indonesia.The sale completion, expected after final approvals were granted last week, leaves OZ Minerals with the Prominent Hill copper-gold mine in South Australia as its only major asset.Under the deal, China Sci-Tech Holdings Ltd paid $US211 million ($261.3 million) for the Martabe mine.China Sci-Tech also agreed to pay a further $US6.5 million ($8.05 million) to OZ Minerals for on-site spending from April 1, $US1 million ($1.24 million) less than estimated last week.In a statement, OZ Minerals said it was now able to restore normal mining rates at Prominent Hill and recommence studies into expanding the mine. "OZ Minerals has also re-activated exploration programs in the highly prospective wider Prominent Hill area and elsewhere,” the company said.It said recent asset sales had resolved the company's refinancing issued and strengthened its balance sheet.For more information visit at : www.thewest.com.au/default.aspx?MenuID=159&ContentID=151844
