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| MMG |
Chinese mining company MMG recorded a 17% increase in copper concentrate production in 2024, reaching 355,161 tonnes. The boost was driven by higher output at its Las Bambas mine in Peru and the newly acquired Khoemacau mine in Botswana. Fourth-quarter production surged to 116,643 tonnes, marking a 15% increase from the third quarter and a 44% rise year-over-year.
Las Bambas achieved a record-high quarterly output of 106,119 tonnes, up 31% year-over-year and 17% quarter-over-quarter. Annual production climbed 7% to 322,912 tonnes, supported by the launch of the Chalcobamba pit. In 2025, MMG expects Las Bambas to produce between 360,000 and 400,000 tonnes of copper concentrate.
Expansion Plans and Future Growth
Khoemacau contributed 10,154 tonnes in the fourth quarter, with annual output totaling 30,961 tonnes. MMG acquired the mine in November 2023 and aims to increase production to 43,000-53,000 tonnes in 2025. An expansion project set for 2026 will further boost annual output to 130,000 tonnes by 2028.
Copper cathode production at MMG’s Kinsevere mine in the Democratic Republic of Congo saw a slight 1% annual increase to 44,597 tonnes, despite a 20% drop from the third quarter. The mine’s expansion project, which produced its first copper cathode batch in September, is projected to raise output to 63,000-69,000 tonnes in 2025.
Zinc and Lead Production Also On the Rise
MMG’s zinc and lead concentrate production rose by 8% and 7%, respectively, in 2024, reaching 219,901 tonnes and 41,660 tonnes. The Dugald River mine contributed to this growth due to higher ore grades. MMG forecasts zinc concentrate output between 280,000 and 310,000 tonnes in 2025.
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