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MMG flags swing to US$113M profit in H1

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MMG flags swing to US$113M profit in H1

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.