MMG Limited has announced its first quarter production results, which includes a 76 per cent increase in copper production (compared to the same period last year) with production hitting just over 118,000 tonnes.
The copper increase was driven by stable performance from the Chalcobamba and Ferrobamba pits at Las Bambas, the ramp-up of Kinsevere and full-quarter contribution from Khoemacau.
Weather impacts and scheduled maintenance contributed to total zinc production reducing by 13 per cent (compared to the same period last year). This included the impact of bushfires and flooding at Dugald River and scheduled maintenance at Rosebery. Despite these challenges, the zinc recovery rate for Dugald River stayed above 90 per cent, whilst Rosebery’s strategy of focusing on zinc equivalent production continues to deliver positive results. Both assets are expected to see improved production in the second quarter and remain on track to meet their production guidance.
“We have worked hard to return Las Bambas to full capacity, driving a significant increase in MMG’s total copper production. With African copper production also improving, there is the potential to upgrade our overall copper guidance in coming months,” said Ivo Zhao, MMG’s CEO. “We have a very good outlook, and I am excited to lead the MMG team to achieve our potential.”
Highlights include:
- Las Bambas produced over 95,000 tonnes of copper in copper concentrate in the first quarter – an impressive 71 per cent increase compared to the same period last year. This includes the contribution of improved ore milled grade and metallurgical recovery rate. Operational stability of mining activities at the Ferrobamba and Chalcobamba pits contributed to a record-high ore mined volume of 20.2 million tonnes for the quarter.
- Stable production at Las Bambas is in part the result of extensive community relations and innovative social programs. An example is the Huancuire community company Corhuan, which was awarded a contract to transport Las Bambas copper concentrate for the operation of 30 new trucks during the quarter, bringing the mine’s total transportation capacity to 155 permitted trucks.
- Kinsevere produced almost 12,000 tonnes of copper cathode, a 19 per cent increase compared to the same quarter in 2024. This growth was driven by the ramp-up of the sulphide circuit, despite power outages caused by load shedding from the local grid. The team continue to pursue solutions to enhance power stability to ensure energy resilience and sustainability at site.
- Khoemacau produced close to 11,000 tonnes of copper in concentrate, a four per cent increase from the previous quarter. This was primarily due to higher ore grades resulting from the mining sequence. Production was partially offset by lower ore milled throughput due to record rainfall in Botswana. Improved production is expected this coming quarter with the arrival of the dry season.
“MMG is committed to our long-term growth strategy, developing metals essential for a low-carbon future”, Mr Zhao said. “Our ambition is to become a top 10 global copper producer – leveraging a focus on technology-driven efficiencies, prudent cost management, and operational excellence.”
Full details are available in MMG’s First Quarter Production Report.
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Felicity Watson
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About MMG
Founded in 2009, MMG’s vision is to create a leading international mining company for a low carbon future. The company is headquartered in Melbourne, Australia and Beijing, China and listed on the Hong Kong Stock Exchange (HKEX1208). MMG’s portfolio supports copper, zinc and cobalt production, with soon to be nickel – products that are critical to achieving global decarbonisation and electrification targets. With operations in Australia, Botswana, the Democratic Republic of Congo an Latin America. More info here.