MMG cuts FY'21 copper output guidance as Q3 production falls YOY

MMG Ltd. said Oct. 21 that it lowered its full-year 2021 copper production guidance to between 300,000 tonnes and 305,000 tonnes, from its initial forecast of between 360,000 tonnes and 390,000 tonnes, due to blockades by the local community disrupting operations at its Las Bambas copper mine in Peru.

Copper cathode production at the Kinsevere operation in the Democratic Republic of the Congo, meanwhile, is pegged at between 45,000 tonnes and 50,000 tonnes, with mining no longer expected to resume in the fourth quarter.

In the third quarter, copper concentrate output from Las Bambas and the Rosebery mine in Tasmania, Australia, fell 6% yearly to 79,531 tonnes, while copper cathode output dipped 35% to 11,671 tonnes.

Zinc output from Rosebery and the Dugald River mine in Queensland, Australia, for the three months totaled 61,834 tonnes, similar to year-ago quarter output of 61,606 tonnes. Lead output slipped 16% to 10,659 tonnes, while molybdenum production increased 16% to 1,369 tonnes.