Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

MMG’s net loss is likely to increase to $158mn for the first six months of the year from $81mn in H1 2019.


In a filing with the Hong Kong Stock Exchange on July 20, the company attributed the expected loss to declining operations, lower commodity prices, and lower copper output from its mines compared with the first six months last year. It cited the impact of shutdowns related to COVID-19 as a key factor for low production at its Las Bambas mine in Peru.


MMG holds a majority stake of 62.5pc at the Peruvian copper mine and has retained the right to operate it. Guoxin International Investment and CITIC Metal hold 22.5pc and 15pc, respectively. According to MMG’s website, Las Bambas has a throughput capacity of 51.1mn mt of copper per year.

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