MMG Retains Zinc, Copper Production Guidance

MetalBulletin reported that despite a fall in zinc output during the second quarter of 2013, MMG Ltd. (HKEX:1208), which is majority owned by China Minmetals Corp., is maintaining its annual production expectation of 572,000 to 590,000 tonnes of zinc in addition to 170,000 to 185,000 tonnes of copper.

As quoted in the market news:

The miner produced 153,572 tonnes of zinc in the second quarter of 2013, down 11% year-on-year. The lower grades at Century were partially offset by a strong performance at Rosebery. The Century zinc mine, one of the largest in the world, produced 127,979 tonnes of zinc in the second quarter, down 9% year-on year. Rosebery output increased 16% to 20,838 tonnes. Project financing for MMG’s Dugald River project, which is expected to replace about 40% of Century’s zinc output, was completed with the company entering into a facility agreement of up to $1 billion to finance the development and construction of the project

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