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Solid June quarter, drilling programs show early success

MMG Limited (MMG) today announced its second quarter 2019 production result, producing 101,158 tonnes of copper and 56,929 tonnes of zinc in the three months to 30 June.

“Despite the logistics challenges faced by both Las Bambas and Dugald River during the first quarter of 2019, our teams have showed tremendous resilience in getting production back on track,” said MMG CEO Geoffrey Gao. “A solid June quarter has ensured we remain on target to meet our 2019 production guidance.”

Las Bambas produced 84,373 tonnes of copper in copper concentrate during the quarter, with the decrease from the prior corresponding period attributable to the forced and planned shutdowns in early April. Molybdenum production increased 10% during the quarter to reach record levels, with debottlenecking initiatives in the plant showing results.

Dugald River continued its strong ramp up, producing 35,850 tonnes of zinc in zinc concentrate for the second quarter of 2019. The rail line from Mount Isa to Townsville, impacted during the flood event in February 2019, has been restored and the transport of concentrate is fully operational.

Rosebery produced 21,079 tonnes of zinc in zinc concentrate, up 14% on the previous quarter, with strong performance in the mine and mill supported by the recent investment in a new mobile fleet.

Kinsevere produced 16,463 tonnes of copper cathode during the quarter, up 31% on the prior corresponding period and in-line with the revised mine plan.

MMG expects to produce around 450,000 to 455,000 tonnes of copper and 250,000 to 270,000 tonnes of zinc in 2019.

Exploration and development update
Drilling associated with the development of Chalcobamba was carried out at the Las Bambas operation in Peru, along with exploration programs at the Nambulwa project close to Kinsevere mine and other greenfield projects in the Democratic Republic of the Congo (DRC).  These programs are demonstrating considerable early success.

“We are pleased to receive positive results from the recent exploration and drilling works taking place at our Kinsevere and Las Bambas operations. Preliminary results from the Chalcobamba South West zone at Las Bambas increase our confidence in the ability to extend the mine life significantly beyond current estimates,” CEO Geoffrey Gao said.

Please download a full copy of the MMG Second Quarter 2019 Production Report.