MMG ended 2020 in a strong position with improving commodity prices, recovering production levels and ongoing COVID-19 risk management.
Year in review
Chief executive officer's report
Las Bambas produced 311,020 tonnes of copper in concentrate in 2020 while effectively managing pandemic challenges. Between 2022 to 2025, annual copper production is anticipated to increase to an average of 400,000 tonnes.
Mining at the Central pit drove a strong recovery in production volumes. MMG continues to progress the next phase of Kinsevere’s development with the potential to process sulphide ores and the addition of a cobalt circuit.
Now in its 85th year of continuous operation, Rosebery benefited from a 52% increase in profit before tax - an impressive outcome as prior year seismic events restricted mine access in 2020.
Record Dugald River zinc and lead production drove an increase in profit before tax compared with the 2019 year. Encouraging drilling results increased zinc mineral resource levels, favouring a potential extension or expansion of the local mine.