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mmg ltd (1208) Snapshot

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mmg ltd (1208) Details

MMG Limited, an investment holding company, engages in exploring, mining, processing, and producing copper, zinc, lead, gold, and silver deposits. The company owns and operates Sepon, an open-pit copper and gold mine located in Southern Laos; Kinsevere open-pit copper mine in the Katanga province of the Democratic Republic of the Congo, Africa; Century open-pit zinc mine located in north-west Queensland; Rosebery underground polymetallic base metal mine located in Tasmania; and Golden Grove underground and open-pit base and precious metals mine located in Western Australia’s mid-west. It also has exploration projects in Australia, Africa, and the Americas. In addition, MMG Limited provides management and employment, treasury, and financial services. The company was formerly known as Minmetals Resources Limited and changed its name to MMG Limited in September 2012. MMG Limited was incorporated in 1988 and is headquartered in Melbourne, Australia, and is considered a Red Chip company due to its listing on the Hong Kong Stock Exchange. MMG Limited is a subsidiary of China Minmetals Non-ferrous Metals Company Limited.

5,773 Employees
Last Reported Date: 08/18/15
Founded in 1988

mmg ltd (1208) Top Compensated Officers

Chief Executive Officer, Executive Director a...
Total Annual Compensation: $4.8M
Chief Financial Officer and Executive Directo...
Total Annual Compensation: $1.9M
Executive General Manager of China & Group St...
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2014.

mmg ltd (1208) Key Developments

MMG Seeks Acquisitions

MMG Limited (SEHK:1208) is seeking acquisitions. MMG's Chief Executive Officer Andrew Michelmore said MMG will need to make another acquisition bigger than the $1.36 billion copper mine in Congo it bought in early 2012 to realise its goal to become a "mid-tier" global mining firm by 2020.

MMG Limited Appoints New Members to Remuneration and Nomination Committee

The board of directors of MMG Limited announced the appointments on the Remuneration and Nomination Committee of the company with effect from 18 August 2015. Gao Xiaoyu has been appointed as a member of the Remuneration and Nomination Committee, in addition to his current capacity as a Non-executive Director of the company and a member of the Audit Committee and Safety, Health, Environment and Community Committee of the company. Jennifer Anne Seabrook has been appointed as a member of the Remuneration and Nomination Committee, in addition to her current capacity as an Independent Non-executive Director of the Company and the Chair of the Audit Committee of the company. Pei Ker Wei has been appointed as a member of the Remuneration and Nomination Committee, in addition to his current capacity as an Independent Non-executive Director of the company and a member of the Audit Committee of the company.

MMG Limited Reports Unaudited Consolidated Earnings and Production Results for the Six Months Ended June 30, 2015; Provides Production and Capital Expenditure Guidance for the Year 2015

MMG Limited reported unaudited consolidated earnings and production results for the six months ended June 30, 2015. For the period, the company reported revenue of USD 1,113.8 million against USD 1,193.7 million a year ago. EBITDA was USD 375.9 million against USD 364.7 million a year ago. Negative EBIT was USD 5.0 million against EBIT of USD 116.5 million a year ago. Loss before income tax was USD 46.8 million against profit before income tax of USD 79.2 million a year ago. Loss was USD 48.0 million against profit of USD 47.7 million a year ago. Net debt as on June 30, 2015 was USD 978.7 million against USD 1,229.9 million as on December 31, 2014. Loss for the period attributable to equity holders of the company was USD 46.2 million against profit for the period attributable to equity holders of the company of USD 39.2 million a year ago. Net cash generated from operating activities was USD 202.7 million against USD 200.5 million a year ago. Purchase of property, plant and equipment was USD 946.4 million against USD 116.0 million a year ago. Payments made to develop intangible assets were USD 7.2 million against USD 10.6 million a year ago. The company reported total first half copper production of 98,264 tones was 6% higher than the corresponding period in 2014, driven by production at Kinsevere and Sepon. First half zinc in zinc concentrate production of 286,144 was 6% higher than the same period in 2014, driven by higher production at Rosebery and Golden Grove. The company expects to produce 171,000 tones to 186,000 tones of copper and 440,000 tones to 510,000 tones of zinc in 2015. Capital expenditure guidance for 2015 is USD 350 to USD 400 million, which excludes expenditure on the recently acquired Las Bambas copper project.

 

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1208

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Valuation 1208 Industry Range
Price/Earnings 57.5x
Price/Sales 0.4x
Price/Book 0.6x
Price/Cash Flow 1.5x
TEV/Sales NM Not Meaningful
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