Shares of MMG Ltd (01208) rallied more than 7% during afternoon trading in Hong Kong, before paring gains to settle 3.32% higher at HK$3.73 by press time. Trading volume reached HK$390 million.

The momentum followed the company's midday profit alert projecting a staggering fifteenfold year-on-year surge in first-half earnings. MMG anticipates net profit attributable to equity holders will hit approximately US$340 million for the six months ending June 30, 2025 – a dramatic leap from the US$21 million recorded in the same period last year.

This explosive growth primarily stems from heightened output and reduced unit production costs at its Las Bambas mine. Concurrently, stronger commodity prices for copper, gold, and silver compared to the first half of 2024 further bolstered financial performance.