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Strong mine performance, transport impacts at Las Bambas

MMG Limited (MMG) today announced its third quarter 2019 production result, producing 115,864 tonnes of copper and 68,628 tonnes of zinc in the three months to 30 September.

”Dugald River delivered record production quarter, with Las Bambas, Kinsevere and Dugald River all delivering record quarterly mill throughput rates,” said MMG CEO Geoffrey Gao. “Despite community related disruptions at Las Bambas, core mining operations performed strongly during the quarter.”

Since 22 September, road access to Las Bambas has been disrupted by a series of road blocks between 50 and 250 kilometres from Las Bambas, in the province of Chumbivilicas, Cusco. On 15 October, the Government of Peru declared a State of Emergency and efforts by the authorities to restore access to the road are currently underway. Assuming unrestricted access resumes in the coming days, 2019 copper production is expected to be marginally below the previous guidance range of 385,000 to 405,000 tonnes.

Las Bambas produced 96,990 tonnes of copper in copper concentrate during the quarter, 15% above the prior period and 12% higher than the third quarter 2018. The increase is attributable to uninterrupted operations for most of the quarter and improved performance across the mine and the mill.

The successful ramp up of Dugald River continued, with a record production quarter of 47,296 tonnes of zinc in zinc concentrate, 32% above the previous quarter. Higher production was attributable to higher mining, throughput and recovery rates and higher ore grades.

Kinsevere produced 18,495 tonnes of copper cathode in the third quarter, a 12% increase on the previous quarter driven by record mill throughput and improved mining performance.

Rosebery produced 21,332 tonnes of zinc in zinc concentrate during the third quarter. Recent investment in new mobile fleet has led to increased productivity and significantly improved equipment availability, which offsets the impacts of mining at greater depth and in smaller average tonnage stopes.

Las Bambas drilling continues to define mineralisation at the Chalcobamba Southwest Zone, which is within 300 metres of the current Chalcobamba ore reserve pit and should drive expansion of the Chalcobamba pit design.

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