Home / Media Release / Golden Grove delivers stable production during third quarter 2015

Golden Grove delivers stable production during third quarter 2015

MMG Limited (MMG) released its third quarter 2015 production results today, with a stable performance at Golden Grove positioning the operation to achieve its annual production guidance.

Production of 7,008 tonnes of copper in copper concentrate at Golden Grove, which is located in north-east Western Australia, was 24% higher than the previous quarter in line with increased copper ore mined and milled.

Year-to-date copper production was 18% lower than the same period 2014 due to a focus on zinc production during the first half of 2015.

Golden Grove also produced an additional 14,569 tonnes of zinc in zinc concentrate during the third quarter, 10% lower than previous quarter. Lower zinc ore mill throughput was marginally offset by higher average milling grades of 13.3% compared to 10.8% in the previous quarter.

General Manager Australian Operations Rick Watsford said that Golden Grove would continue to provide MMG with important exposure to zinc.

“With the completion of production from MMG’s Century operation during 2015, Golden Grove will provide the company with ongoing exposure to zinc at a time of shrinking global supply,” Mr Watsford said.

“With year-to-date production of 30,740 tonnes of zinc, Golden Grove is on track to achieve its annual production guidance of 40,000 – 55,000 tonnes of zinc during 2015,” he said.

Copper production guidance for Golden Grove is unchanged at 21,000-24,000 tonnes. MMG also expects to produce 40,000-55,000 tonnes of zinc in zinc concentrate at Golden Grove in 2015.

Golden Grove is an underground and open pit base and precious metals mine located in Western Australia. It is located approximately 450 kilometres north-east of Perth and 250 kilometres east of Geraldton.

MMG is a global resources company which explores, develops and mines base metals deposits around the world. Headquartered in Melbourne, Australia, MMG is listed on the Hong Kong Stock Exchange.