Home / Report / 2022 Third Quarter Production Result

2022 Third Quarter Production Result

MMG Limited (MMG) today released its production result for the third quarter of 2022, delivering 95,601 tonnes of copper and 60,906 tonnes of zinc in the three months to 30 September 2022.

MMG Interim CEO, Liangang Li said that copper production for the quarter was 115% higher than in the June quarter as both Las Bambas and Kinsevere operations delivered their strongest quarter for the year to date.

“In the third quarter we continued to engage in productive dialogue with community members near our Las Bambas mine, with agreements reached with four of six participating communities.  Site teams are now moving to implement agreements and advance dialogue with the remaining two communities – Fuerabamba and Huancuire – who occupied the site earlier this year.”

“Achieving a positive, sustainable and enduring agreement remains our priority and is the key to unlocking the next phase of Las Bambas growth through the development of the Chalcobamba deposit.” Mr Li said.

“During the quarter we also increased our focus on operational efficiency which, together with fewer disruptions, enabled us significantly increase production and to reduce stockpiles at site. As we look ahead to the rest of the year, we expect to sustain production at similar levels.” he added.

Kinsevere delivered its strongest quarterly production result for 2022, producing 14,574 tonnes of copper cathode which represents a 19% increase on the June quarter. Higher production rates are expected to continue into the fourth quarter on the back of higher grades and stable recovery rates.

Zinc production in the third quarter was 14% higher than in the second quarter as Dugald River delivered its strongest production result for the year, while the Rosebery maintained production rates.

MMG expects the full year copper production to be around 300,000 tonnes representing an increase of 10,000 tonnes due to stronger than anticipated ramp up following the recommencement of production at Las Bambas in June. Zinc production is expected to be in the range of 220,000-235,000 tonnes due to a revised mining sequence at Rosebery and workforce availability impacts earlier in 2022 due to COVID-19 impacts at Dugald River.

Please download the full copy of the MMG Third Quarter 2022 Production Report.