MMG’s Metals Production Sees Mixed Results in 3Q; Updates Full-Year Guidance

MMG’s Metals Production Sees Mixed Results in 3Q; Updates Full-Year Guidance

Diverse Changes in Quarterly Outputs

In the third quarter, MMG reported varied outcomes across its production spectrum. Copper cathode production saw a significant 16% year-on-year decrease, settling at 12,220 tons. Zinc wasn’t spared either, with output dipping by 3% compared to the same period last year, recorded at 59,229 tons. Conversely, lead production bucked the trend, marking a 6% increase on an annual basis to 11,154 tons.

Copper Outlook Brightens Amid Operational Stability

MMG is setting sights higher for its annual copper production, anticipating outputs in the range of 328,000 to 353,000 tons, skewing towards the higher end of their previous forecast. This renewed optimism is attributed to consistent operational stability at the Las Bambas mine since March, instilling confidence in the asset’s productivity for the remainder of the year.

Zinc Prospects Adjust to Technical Challenges

For zinc, the future seems slightly less lustrous. MMG is adjusting its full-year production forecast for the metal, now aiming for 188,000 to 203,000 tons, trending towards the lower end of their prior guidance. This revision is linked to the increasing complexity of mining at depth at the Rosebery operation and encountering lower mill grades, which pose challenges to maintaining the previous output levels.

More latest Metals News! icon

    Subscribe to the most timely news about the metals market

    Metals Wire's weekly digest for mining and processing industry professionals, investors, analysts, journalists.