MMG Limited (HKEX 1208, ASX MMG) today announced its Las Bambas copper operation in Apurimac, Peru had achieved commercial production on 1 July 2016.
The date of commencement of commercial production marks the time from which the site will be treated as an operation rather than a project for accounting purposes.
Chief Executive Officer Mr Andrew Michelmore said this confirmed the ramp up of the plant has been achieved on schedule and commercial production reached in line with guidance to the market.
“Las Bambas is a world class operation that is transformational to MMG. Its successful ramp up delivers on our commitment to drive value for shareholders,” he said.
“MMG is emerging as a major copper player – continuing to invest in the down cycle with the support of its major shareholder China Minmetals Corporation.”
Recent milestones in the development of the Las Bambas project include:
- Copper production commencing in the fourth quarter 2015 with the first concentrate achieved on 26 November.
- The first shipment of product departing the Port of Matarani for China on 15 January 2016.
- The production of 31,470 tonnes of copper in copper concentrate in the first quarter 2016.
MMG will provide an update on production at Las Bambas in its Second Quarter Production Report on 28 July 2016.