Australia based OZ minerals announced its annual results yesterday. The company based in Melbourne will be rewarding its investors with a dividend this year.

Usually termed as just one-mine Company, the management has announced that it will be looking to expand its network this year. Currently it is holding 1.08 billion dollars in cash and it will be looking of spend some of this money.

The company in its annual result also said that it was looking to implement the 3 month old strategy. The strategy that was made to target the copper acquisitions in low-risk regions was not being focused on and the company says it will now give complete attention to this. The Company's loss for 2009 is 517.3 million dollars which was very much expected. The results were much better than 2008 when the company wrote down the value of their mining assets and booked a loss of 2.5 billion dollars.

Chief executive Terry Burgess did not announce any dividend right now but the company will be looking to payout the dividend ahead in the year. At the Prominent Hill OZ was carrying out a feasibility study expected to end by June, he further added.