June 15 (Reuters) - OZ Minerals Ltd OZL.AX :
* Class action settlement
* Has reached a binding agreement to settle the class action proceedings that commenced in the Federal Court Of Australia on 25 February 2014
* Settlement was agreed to avoid the litigation risk and significant expense of a lengthy trial
* Class action proceedings were filed by former Zinifex shareholders who held Zinifex shares on 1 July 2008
* Agreed settlement amount is $32.5 million of which Oz minerals' net contribution to settlement is $24 million
* Settlement payment will be recorded in 2016 FY results, settlement expected to occur in second half of financial year
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