MMG Limited Reports Production Results for the Fourth Quarter and Full Year Ended December 2016; Provides Production Guidance for the Year 2017
MMG operations produced 503,510 tonnes of copper in 2016, exceeding the guidance range of 415,000-477,000 tonnes. The Company produced 119,575 tonnes of zinc, slightly below its guidance range of 120,000-135,000 as the production profile shifted from zinc to copper in 2016. In addition to the strong result at Las Bambas, MMG's Kinsevere operation delivered a record year on safety, volume and cost measures.
MMG expects to produce 560,000-615,000 tonnes of copper and 65,000-72,000 tonnes of zinc in 2017. The guidance range excludes the Golden Grove operation following the announcement on 30 December 2016 that MMG has entered into a conditional sale agreement of Golden Grove to EMR Capital.