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mmg ltd (1208) Details

MMG Limited, an investment holding company, engages in the exploration, development, and mining of zinc, copper, gold, silver, nickel, and lead deposits. The company operates through Las Bambas, Sepon, Kinsevere, and Australian Operations segments. The company operates the Las Bambas copper development project located in Cotabambas; Sepon open-pit copper mine located in southern Laos; and Kinsevere open-pit copper mine in the Katanga province of the Democratic Republic of the Congo. It also operates Rosebery underground polymetallic base metal mine located in Tasmania west coast; and Golden Grove underground and open-pit base and precious metals mine located in Western Australia’s mid-west. In addition, the company has exploration and development projects in Australia, Africa, and the Americas. 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 based in Melbourne, Australia.

4,848 Employees
Last Reported Date: 04/19/18
Founded in 1988

mmg ltd (1208) Top Compensated Officers

Executive GM of Marketing & Risk and Executiv...
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2016.
mmg ltd
MMG Limited Announces Management Changes

The board of directors of MMG Limited announced that Mr. Jiao has announced the Board of his intention to resign as the CEO of the company with effect from 1 August 2018 at which time he will commence a senior executive role with China Minmetals Corporation (CMC) in Beijing. Mr. Jiao will remain on the Board of the company and will therefore be re-designated from an Executive Director to a Non-Executive Director with effect from his resignation. The Board also announced that Mr. Gao Xiaoyu (Geoffrey) will be appointed as the CEO of the company, and re-designated from a Non-Executive Director to an Executive Director, with effect from Mr. Jiao's resignation. Mr. Gao, aged 48, was appointed as a Non-executive Director of the company in April 2011. He is a member of the company's Audit Committee, Governance and Nomination Committee, Remuneration Committee and Risk Management Committee. At the time of Mr. Gao's appointment as the CEO of the company and re-designation as an Executive Director, he will resign from all his positions on the Board committees of the company. The membership of the Board committees will be considered by the Governance and Nomination Committee and the Board in due course.

MMG Limited Reports Production Results for the First Quarter Ended March 31, 2018; Provides Production Guidance for the Second Quarter and Full Year of 2018

MMG Limited reported production results for the first quarter Ended March 31, 2018. For the quarter, the company reported copper cathode production of 40,290 tonnes, total copper of 87,461 tonnes, zinc of 47,138 tonnes, and lead of 7,858 tonnes. The total copper production for the first quarter of 2018 was 127,751 tonnes, which was 14% below the previous corresponding period. This was due to lower production at Las Bambas. Copper in copper concentrate produced production for Las Bambas is 87,000 tonnes. The total zinc production for the first quarter of 2018 from Australian operations was 47,000 tonnes -- more than 47,000 tonnes, which was 146% above the previous corresponding period. Las Bambas copper in copper concentrate production was 87,056 tonnes, which is 22% down on the previous corresponding period. For the second quarter of 2018, the company expects to achieve commercial production during the second quarter of 2018. In 2018, the company expects to produce 70,000 to 80,000 tonnes of zinc in zinc concentrate at Rosebery. C1 costs for zinc are expected to be in the range of USD 0.00 ­ USD 0.15/lb due to the significant by-product contribution. Despite the lower production this quarter at Las Bambas, grades and production rates are expected to improve for the remainder of 2018, resulting in annual production of between 410,000 and 430,000 tonnes of copper. Kinsevere operation is on track to deliver around 80,000 tonnes in 2018. MMG expects to produce 560,000 to 590,000 tonnes of copper and 190,000 to 220,000 tonnes of zinc in 2018.

MMG Limited Reports Audited Consolidated Earnings Results for the Full Year Ended December 31, 2017

MMG Limited reported audited consolidated earnings results for the full year ended December 31, 2017. For the year, revenue was $4,143.2 million against $2,488.8 million a year ago. Earnings before interest, income tax, depreciation, amortization and impairment expenses ­ EBITDA was $2,210.0 million against $949.2 million a year ago. Profit before interest and income tax ­ EBIT was $1,277.0 million against profit before interest and income tax ­ EBIT of $264.7 million a year ago. Profit before income tax was $743.5 million against loss before tax of $48.3 million a year ago. Profit for the year attributable to equity holders of the company was $147.1 million against loss of $152.7 million a year ago. Net cash generated from operating activities was $2,369.8 million against $722.3 million a year ago. Diluted earnings per share was 1.81 cents against loss of 2.48 cents a year ago. Purchase of property, plant and equipment was $666.9 million against $771.0 million a year ago. Purchase of intangible assets was $38.4 million against $17.0 million a year ago.


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