MMG's quarterly production surges on Las Bambas start
PERTH (miningweekly.com) – Newly listed metals miner MMG has reported record copper production for the fourth quarter ended December, thanks to the start of its Las Bambas project, in Peru. However, the company's zinc and lead production declined.
Copper production for the fourth quarter doubled on the previous quarter, reaching 15 847 t, after the Las Bambas project produced its first concentrate. Some 100 000 t of concentrate were shipped from the project in January this year.
Besides the Las Bambas operation, MMG reported a decline in production from both its Golden Grove and Rosebery copper mines, in Western Australia and Tasmania respectively.
Copper cathode production for the quarter was down 8%, to 40 953 t, as the Sepon mine, in Laos, was affected by lower feed grades and recoveries. The Kinsevere copper cathode project, in the Democratic Republic of Congo, achieved a consistent performance.
Meanwhile, zinc production for the quarter declined by 5% on the previous quarter, to 123 601 t, while lead production was down 52% over the same period, to 18 278 t.
The lower zinc and lead production resulted from the lower production rates at the Rosebery and Golden Grove mines, which resulted from lower ore grades at Rosebery and a zinc-focused mine plan at Golden Grove.
Despite the lower zinc, lead and copper cathode production, MMG told shareholders that the production results for all of its product were above guidance.
For the full 2016, MMG expected to produce between 415 000 t and 477 000 t of copper, and between 120 000 t and 135 000 t of zinc.
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