OZ Minerals (ASX:OZL) will withdraw from its joint venture with IMX Resources (ASX:IXR) over the Mt Woods copper-gold project.
OZ Minerals will relinquish its interest in the non-iron rights over the Mt Woods tenements and ownership of those tenements and all mineral rights will now revert to 100% ownership by IMX.
OZ is known to have pared its exploration expenditure on its own tenements in the Prominent Hill region and since the beginning of 2013 has focused only on near-mine growth.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.