MMG Ltd. said Aug. 14 that it expects to record a posttax net profit in the first half of approximately US$113 million, swinging from a loss of US$93 million in the year-ago period, based on a preliminary assessment of its financial results.
The company attributes the result to an improvement in its operating conditions with commodity prices appreciating in the current-year period, the addition of the Las Bambas copper mine in Peru to its operating portfolio, and increased production levels.