MMG (01208) continued its upward momentum with another near-5% gain. As of press time, the stock was up 4.59% to HK$4.79, with a turnover of HK$71.57 million.

On the news front, MMG announced its interim results showing first-half revenue of US$2.817 billion, representing a 47% year-on-year increase. Profit attributable to equity holders reached US$340 million, surging 1,511% compared to the same period last year.

The revenue growth was primarily driven by increased sales volume and rising commodity prices. The substantial profit increase was attributed to comprehensive copper production improvements across the company's three copper mines, higher market prices for copper, gold, silver, and zinc, as well as reduced unit costs at Las Bambas.

Bank of China International issued a research report projecting that the company's net profit in the second half of 2025 will grow 4% on a half-yearly basis. Under conservative assumptions, the firm expects copper production to decline 10% half-yearly, with Las Bambas copper output expected to fall 20% based on the midpoint of the company's full-year guidance.

Following mining-related road blockages in June and early July, the company has maintained sufficient buffer room in its guidance. Should operations remain uninterrupted, the mine's annual production could potentially exceed 400,000 tons.