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BRIEF-MMG Expects To Produce Between 360,000 And 390,000 Tonnes Of Copper In 2021

Published 04/03/2021, 01:05 am
Updated 04/03/2021, 01:06 am
© Reuters.

March 3 (Reuters) - MMG Ltd 1208.HK :

* PROFIT FOR YEAR AFTER INCOME TAX $5.6 MLN VS LOSS $195.3 MLN

* EXPECTS TO PRODUCE BETWEEN 360,000 AND 390,000 TONNES OF COPPER AND 240,000 AND 260,000 TONNES OF ZINC IN 2021

* LAS BAMBAS' ANNUAL COPPER PRODUCTION ANTICIPATED TO INCREASE TO AN AVERAGE OF 400,000 TONNES OVER PERIOD 2022 TO 2025

* FY REVENUE $3,033.7 MILLION VERSUS $3,011.6 MILLION

* FOR 2021, COPPER CATHODE PRODUCTION FROM KINSEVERE EXPECTED TO BE IN RANGE OF 50,000 TO 60,000 TONNES

* KINSEVERE C1 COSTS FOR 2021 FULL YEAR EXPECTED TO BE BETWEEN US$2.15 AND US$2.25/LB

* DUGALD RIVER EXPECTED TO PRODUCE BETWEEN 180,000 & 190,000 TONNES OF ZINC DURING 2021

* FOR DUGALD RIVER, ANTICIPATE C1 COSTS OF US$0.70/LB – US$0.75/LB FOR 2021

* FOR LAS BAMBAS, C1 UNIT COST GUIDANCE OF US$1.10-1.20/LB FOR 2021

* EXPECT THAT CHALLENGES BROUGHT ON BY GLOBAL PANDEMIC WILL REMAIN IN THE NEAR TERM

* EXPECT TO RESUME MINING IN Q2 OF 2021 AT KINSEVERE

* A PART OF 2020 CAPEX WILL NOW FALL INTO 2021

* FAVOURABLE COMMODITY PRICE TRENDS PRESENT A POSITIVE OUTLOOK FOR CO

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