Positive first quarter for MMG

Positive first quarter for MMG

The first quarter of 2017 saw MMG produce 147 882 tonnes of copper and 19 146 tonnes of zinc in the three months to March.

Strong copper output was driven by excellent performance at Las Bambas, up 6% on the fourth quarter of 2016. Las Bambas produced 111 341 tonnes of copper in copper concentrate in the March quarter at USD1.02/lb (C1 cost). “The industry-leading ramp up of Las Bambas has been an outstanding success,” CEO Jerry Jiao says. “The operation has delivered its first three quarters above nameplate and our focus is now on optimising processes, increasing efficiencies and reducing costs.”

With grid-sourced power now making up 90% of requirements, production at Kinsevere was 19 349 tonnes of copper cathode. Sepon processed at an annualised rate 66% above design capacity at three million tonnes, producing 16 850 tonnes of copper cathode despite ongoing transition to lower grade, more complex ores. Lead and zinc production at Rosebery was in line with expectations with lower zinc feed grades partially offset by improved recoveries. “Transport logistics at Las Bambas also performed well,” he says. “We have reduced our site inventory to normal operating levels and continue to work closely with the government and communities to encourage dialogue and build enduring development for the region.”

The development of the Dugald River project is now over 58% complete and remains on track to achieve production of first concentrate in the first half of 2018. “This operating result is an example of our ability to drive asset utilisation and cost performance against mine, ore grade, logistics and processing challenges," says Jiao.

MMG expects to produce 560 000 to 615 000 tonnes of copper and 65 000 to 72 000 tonnes of zinc in 2017.


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