MMG Reports Fourth Quarter and Full-Year 2023 Production Figures
January 30, 2024
4Q Copper Production: MMG, a leading global resources company, has reported an 11% year-on-year increase in copper production for the fourth quarter, reaching 81,206 tons.
4Q Copper Cathode Production: Copper cathode production, however, experienced an 18% year-on-year decline in the fourth quarter, totaling 10,206 tons.
4Q Zinc Production: The company saw a 6% year-on-year rise in zinc production for the fourth quarter, amounting to 63,765 tons.
4Q Lead Production: Lead production exhibited a substantial 20% year-on-year increase in the fourth quarter, reaching 12,724 tons.
Full-Year 2023 Production Highlights:
- Copper Production: MMG reported an 18% year-on-year growth in copper production for the full year 2023, totaling 303,196 tons.
- Copper Cathode Production: However, copper cathode production experienced a 10% year-on-year decrease, amounting to 44,068 tons.
- Zinc Production: Zinc production fell by 9% year-on-year in 2023, reaching 203,470 tons.
- Lead Production: Lead production remained flat at 39,055 tons in 2023.
Factors Influencing Production:
- Higher Copper Production (2023): MMG attributed the higher copper production in 2023 to uninterrupted operations.
- Lower Zinc Production (2023): The decline in zinc production in 2023 was mainly due to the suspension of operations at the Dugald River Mine in the first quarter.
2024 Production Outlook:
- Las Bambas Copper Production (2024): MMG anticipates copper production at Las Bambas in the range of 280,000 tons to 320,000 tons in 2024.
- Kinsevere Copper Production (2024): The company projects copper production at Kinsevere to be in the range of 39,000 tons to 44,000 tons in 2024.
- Dugald River Zinc Production (2024): MMG expects zinc production at Dugald River to be in the range of 175,000 tons to 190,000 tons in 2024.
- Rosebery Zinc Production (2024): Zinc production at Rosebery is projected to be in the range of 50,000 tons to 60,000 tons in 2024.
