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MMG's Q3 copper output up 7% YOY on record production at Las Bambas

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MMG's Q3 copper output up 7% YOY on record production at Las Bambas

MMG Ltd. on Oct. 18 reported a 7% year-over-year increase in third-quarter copper production, to 114,472 tonnes, while copper cathode output dropped 16% to 33,416 tonnes.

The company's Las Bambas copper mine in Peru was the main driver of the increase in production, contributing record output of 114,169 tonnes of copper in the quarter as a result of increased ore feed grade and throughput.

On an annual basis, zinc production decreased by 14% to 17,230 tonnes and lead production increased 4% to 6,479 tonnes. Las Bambas also produced 478 tonnes of molybdenum during the third quarter.

MMG reported that its Dugald River zinc mine in Queensland, Australia, is 89% complete and on target for first concentrate production by the end of 2017.

Dugald River development costs since August 2015 are estimated at between US$550 million and US$570 million, down from previous guidance of US$600 million to US$620 million.

The company, which also operates the Sepon mine in Laos and the Rosebery mine in Tasmania, anticipates copper production at between 560,000 and 615,000 tonnes and zinc production between 65,000 and 72,000 tonnes for 2017.