MMG Reports on Q3 Activities at Century and Dugald River

MMG Ltd. (HKEX:MMG) released its production results for the third quarter of 2015, commenting that its Century mine produced 93,062 tonnes of zinc in zinc concentrate during the period. That’s 20 percent lower than the previous quarter, “primarily due to lower milling ore grades in the final stage of the open pit.”
The final ore was extracted from Century in August, meaning that mining there has now been complete.
Andrew Michelmore, CEO of MMG, commented:

Throughout its life, Century has been one of the largest zinc mines in the world, accounting for approximately 4% of total global supply at its peak. Century has made a significant contribution to MMG and the region during its 16 years of operation and I extend my gratitude to all involved over the life of mine.
The completion of Century production in 2015 will further impact shrinking global zinc supply at a time of increasing global demand. This supports our decision to invest in one of the world’s highest grade undeveloped zinc deposits at Dugald River.

In terms of Dugald River, the company said:

Early works and pre-production mine development continued at Dugald River during the quarter, following approval of the updated project plan in July.
The updated plan for Dugald River includes a mine production rate of 1.5 million tonnes per annum, construction of a concentrator and annual production of approximately 160,000 tonnes of zinc in zinc concentrate, plus by-products, over an estimated 28 year mine life.
First concentrate production is expected from Dugald River, which is located approximately 65 kilometres north-west of Cloncurry, during the first half 2018.

Click here to read the full MMG Ltd. (HKEX:MMG) press release.