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h2">Third quarter result up on strong production</h1> <div class="entry-meta text-muted"> Posted on 24 October 2024 at 7:44pm </div> </header> <div class="entry-content"> <div class="media-release-content"> <p><span data-contrast="auto">MMG Limited today released its production result for the three months ended 30 September 2024.</span><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></p> <p><b><span data-contrast="auto">Key highlights: </span></b><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></p> <ul> <li data-leveltext="" data-font="Symbol" data-listid="44" data-list-defn-props="{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" aria-setsize="-1" data-aria-posinset="1" data-aria-level="1"><span data-contrast="auto">Improved safety performance and significantly increased production has resulted in a strong third quarter. </span><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></li> </ul> <ul> <li data-leveltext="" data-font="Symbol" data-listid="44" data-list-defn-props="{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" aria-setsize="-1" data-aria-posinset="2" data-aria-level="1"><span data-contrast="auto">MMG is tracking well against a goal of achieving significant and ongoing improvement in safety performance recording a Total Recordable Injury Frequency (TRIF) of 1.92 per million hours worked, down from 2.28 in the second quarter. </span><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></li> </ul> <ul> <li data-leveltext="" data-font="Symbol" data-listid="44" data-list-defn-props="{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1"><span data-contrast="auto">MMG’s total copper production reached 114,664 tonnes. This represents a 22% increase from the same period last year and a 26% increase from the previous quarter. </span><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></li> </ul> <ul> <li data-leveltext="" data-font="Symbol" data-listid="44" data-list-defn-props="{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" aria-setsize="-1" data-aria-posinset="4" data-aria-level="1"><span data-contrast="auto">Las Bambas had its strongest quarter since 2021, driven by improved ore grades. The site will continue to ramp up production and is expected to reach an annualised copper production rate of over 400,000 tonnes in the fourth quarter. </span><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></li> </ul> <ul> <li data-leveltext="" data-font="Symbol" data-listid="44" data-list-defn-props="{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"hybridMultilevel"}" aria-setsize="-1" data-aria-posinset="5" data-aria-level="1"><span data-contrast="auto">Total zinc production for the period was 46,443 tonnes, a 22% decrease compared to the prior corresponding period. Production was impacted by maintenance at both Dugald River and Rosebery, however volumes are set to recover. </span><span data-contrast="auto">Dugald River’s zinc metal production for September was its second highest since January 2022.</span><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></li> </ul> <p><span data-contrast="auto">“Our strong third quarter result was driven by a significant increase in production at Las Bambas which delivered its best quarterly production since 2021 on the back of improving ore grades. We are now well placed to deliver on our plan of a stronger second half underpinned by higher production and progress on our key strategic projects,” said MMG CEO Mr Cao Liang.</span><span data-ccp-props="{"134233117":false,"134233118":false,"335559738":120,"335559739":120}"> </span></p> <p><span data-contrast="auto">Project highlights include the first copper cathode from sulphide ores being produced in late September as part of the Kinsevere Expansion Project. Post the completion of this project, the team will focus on ramping up to nameplate capacity in 2025 and the extension of the mine’s life to 2035.</span><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559738":120,"335559739":200,"335559740":259}"> </span></p> <p><span data-contrast="auto">At Khoemac</span><span data-contrast="auto">a</span><span data-contrast="auto">u, the expansion plans to increase capacity to 130,000 tonnes annually are proceeding well. T</span><span data-contrast="auto">he preliminary feasibility study (PFS) is now complete. The project is expected to move into feasibility by the end of this year, with construction expected to begin in 2026 and be completed by 2028.</span><span data-contrast="auto"> This will help reduce C1 costs.</span><span data-ccp-props="{"335559738":120,"335559739":200}"> </span></p> <p><span data-contrast="auto">And finally, MMG is collaborating with the Huancuire community companies on the Chalcobamba pit development, which is in early operation. Constructive dialogue with Las Bambas, the Huancuire community, and the Peruvian government also continues. </span><span data-ccp-props="{"134233117":true,"134233118":true,"335559738":120,"335559739":200}"> </span></p> <p><span data-contrast="auto">Full details, including production results at an asset level, are available in <a href="/wp-content/uploads/2024/10/e_2024-10-24_3QP-Report.pdf">MMG’s Third Quarter Production Report</a></span><span data-contrast="auto">.</span><span data-ccp-props="{"134233117":true,"134233118":true,"335559738":120,"335559739":200}"> </span></p> <p> </p> <p><b><span data-contrast="none">Media enquiries</span></b><br /> <span data-contrast="none">Felicity Watson</span><br /> <span data-contrast="none">0408 108 516</span><br /> <a href="mailto:felicity.watson@mmg.com"><span data-contrast="none">felicity.watson@mmg.com </span></a><span data-contrast="none"> </span><span data-ccp-props="{"201341983":2,"335559737":283,"335559738":0,"335559739":142,"335559740":240}"> </span></p> </div> <div class="report-files"><div class="report-filerow"></div><div class="report-filerow"><a class="resource-link pdf-icon" href="/wp-content/uploads/2024/10/e_2024-10-24_3QP-Report.pdf">Third Quarter Production Report for the three months ended 30 September 2024</a><span class="report-meta">(PDF), 525.0K</span></div><div class="report-filerow"><a class="resource-link pdf-icon" href="/wp-content/uploads/2024/10/24Q3-Production-Report-_fr.pdf">Third Quarter Production Report for the three months ended 30 September 2024 (French)</a><span class="report-meta">(PDF), 517.4K</span></div><div class="report-filerow"><a class="resource-link pdf-icon" href="/wp-content/uploads/2024/10/MR_2024-Third-Quarter-production-report_FR.pdf">Third quarter result up on strong production (French)</a><span class="report-meta">(PDF), 62.6K</span></div><div class="report-filerow"><a class="resource-link audio-icon" href="/wp-content/uploads/2024/10/251024_MMG_3QTR-1.mp3">2024 Third Quarter Production Report conference call</a><span class="report-meta">(MPEG), 40.5M</span></div><div class="report-filerow"><a class="resource-link pdf-icon" href="/wp-content/uploads/2024/10/MMG_2024_Q3PR_Transcript-V2.pdf">2024 Third Quarter Production Report conference call transcript</a><span class="report-meta">(PDF), 103.4K</span></div></div> </div> </div> </article>  <nav class="navigation post-navigation" aria-label="Posts"> <h2 class="screen-reader-text">Post navigation</h2> <div class="nav-links"><div class="nav-previous"><a href="https://www.mmg.com/reports/mmg-2024-sustainability-briefing/" rel="prev">« Previous Post</a></div><div class="nav-next"><a href="https://www.mmg.com/reports/las-bambas-sustainability-report-2023/" rel="next">Next Post »</a></div></div> </nav> </main> </div> </div>  </div>  </div>  </div> <footer id="colophon" class="site-footer"> <div class="container"><a class="back-to-top" href="#back-to-top" title="Back to top">Top</a></div> <div class="container mb-5"> <div class="row justify-content-between"> <div class="col-sm-6 col-md-5 col-lg-auto order-sm-2 contact-tiles text-right"> <a class="btn btn-mmg" href="https://www.mmg.com/contact-us/">Contact us</a> </div> <div class="col-sm-6 col-md-7 col-lg-auto order-sm-1 footer-menu pt-4"> <a class=" " href="https://www.mmg.com/who-we-are/" title="Who we are">Who we are</a><a class=" " href="https://www.mmg.com/our-business/" title="Our Business">Our Business</a><a class=" " href="https://www.mmg.com/sustainability/" title="Sustainability">Sustainability</a><a class=" " href="https://www.mmg.com/investor-and-media-centre/" title="Investor and Media Centre">Investor and Media Centre</a><a class=" " href="https://www.mmg.com/careers/" title="Careers">Careers</a><a class=" " href="https://www.mmg.com/mmg-insurance-statement/" title="MMG Insurance Statement">MMG Insurance Statement</a> </div> </div> </div> <div class="clearfix"></div> <div class="site-info"> <div class="container"> <a href="https://www.mmg.com/privacy/">Privacy</a> | <a href="https://www.mmg.com/sitemap/">Sitemap</a> <span class="copyright">© 2024 MMG Australia Limited ABN 23 004 074 962</span> </div> </div>  </footer> </div> <script data-cfasync="false" type="text/javascript">if (window.addthis_product === undefined) { window.addthis_product = "wpp"; 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