MMG Limited (MMG) today released its first quarter 2021 production results, delivering 77,328 tonnes of copper and 68,399 tonnes of zinc in the three months to 31 March.
Chief Executive Officer, Geoffrey Gao, outlined MMG’s performance and continuous operation at a time when the company is managing coronavirus risks across global operations.
Safety
“Safety is MMG’s first value. For the first quarter 2021 our total recordable injury frequency (TRIF) was 0.79 per million hours worked. This represents an improvement on the full year 2020 TRIF of 1.38 – a very welcome outcome,” he said. “Importantly, risks presented by the ongoing COVID-19 pandemic are being closely managed to safeguard the wellbeing of our people and the communities where our sites are located.
Production
“MMG’s copper production was in line with plan – although below prior periods – as a result of lower ore grades reflecting the current phase of the Las Bambas mine plan and the processing of stockpiled ore at Kinsevere. Zinc production was 29% above the prior corresponding period as both Dugald River and Rosebery benefited from higher ore grades and strong operational performance.”
“Las Bambas, MMG’s largest operation, continues to provide support to regional communities and maintain strict health protocals for employees and contractors. These measures enabled ongoing stable operations with mill throughput levels in line with the level achieved in the second half of 2020. Fewer road disruptions allowed Las Bambas to reduce inventory on site from around 65,000 tonnes of copper in concentrate to around 37,000 tonnes over the quarter.”
Outlook
An expected strong medium-term outlook for both Las Bambas and Dugald River, anticipated approval of the next phase of development at Kinsevere and the potential for mine life extension at Rosebery, present a positive MMG outlook.
Looking ahead, pending necessary government permitting and community discussions, work continues toward the development of the Chalcobamba pit at Las Bambas in the second quarter of 2021.
Higher production rates for both Las Bambas and Kinsevere are expected in the second half of 2021. Full year copper production guidance is maintained at between 360,000 and 390,000 tonnes while full year zinc production guidance remains at between 240,000 to 260,000 tonnes.
Please download a full copy of the MMG 2021 First Quarter Production Report here.