MMGparent company of Las Bambas, increased its copper production forecasts in Peru and will end the 2023 financial year in a range of between 285,000 and 305,000 tons.
According to the Production Results for the third quarter of 2023, the company globally produced 94,050 tons of copper and 59,229 tons of zinc in the July-August-September period.
MMG acting CEO Liangang Li said MMG generated higher copper and zinc production in the third quarter compared to the previous quarter, driven by higher production at Las Bambas in Peru and the Dugald River in Australia.
Conversations with the Huancuire community have advanced and an agreement has been reached on regulations for the dialogue process on September 13.
“The formal dialogue process resumed on October 2, with the participation of the government of Peru and the new negotiating commission of the Huancuire community formed in July, based on an established agenda,” said the Australian-owned company.
MMG is optimistic that a lasting agreement for the development of Chalcobamba can be reached and we are hopeful that development can begin in late 2023.
“Production at our Las Bambas operation was at capacity during the third quarter with increased throughput and recovery, as well as uninterrupted transportation that allowed us to reduce inventories held on site.”
As a result of stable transportation, Las Bambas has reduced inventory levels at the site from approximately 60,000 tons of copper metal (contained in concentrate) at the end of the second quarter to approximately 10,000 tons of copper metal by September 30, 2023.
MMG said that. Throughout the third quarter, the State of Emergency declared by the government of Peru contributed to stability along the Southern Corridor. The Peruvian government has announced a new extension of the state of emergency for 60 days until December 12, 2023.
MMG’s full-year global copper production guidance was revised to the upper end of previous guidance and is now expected to be in the range of 328,000 to 353,000 tonnes. Zinc production is expected to be in the range of 188,000 to 203,000 tons.
Source: Larepublica
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