The Chinese-owned company MMG, which has operations in Peru, Australia and Congo, reached revenues of US$4,347 million in 2023. Of that amount, 78% corresponded to its operation in Apurímac, Las Bambas.
As reported by BNamericas, Las Bambas registered a significant recovery from the US$2,087 million it reached in 2022, and closed a historic 2023 with US$3,417 million.
During the annual presentation of results, MMG also announced that it will make investments of between US$400 and US$450 million in the Apuri mine this year.
According to those responsible for one of the largest mines in Peru and the world, the resources will serve to complement the current Ferrobamba pit, the expansion of the tailings deposit and operation and maintenance costs, included in the new Chacobamba pit.
Las Bambas expects production at the new pit to begin in the third quarter of 2024. With the expansion, its copper production for 2024 is expected to be in the range of 280,000 and 320,000 tons per year. If it achieves this last level, it would equal Quellaveco’s projection.
Currently, MMG has a 62.5% stake in Las Bambas. The rest is shared between Guoxin International Investment Corporation (22.5%) and CITIC Metal Company (15%).
Source: Larepublica
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