Tiger Brokers

BUZZ-Chinese miner MMG jumps on strong growth in copper production

Reuters
Oct 25, 2024

** Shares of Hong Kong-listed Chinese miner MMG jump 12.4% to HK$2.99; set for biggest intraday rise since March 7

** Stock top pct gainer on Hong Kong's material index

, which is up 0.1%

** MMG says its Q3 total copper production reached 114,664 tonnes, a 22% increase vs a year ago and a 26% rise vs Q2

** Adds Peru's Las Bambas mine produced 90,595 tonnes of copper, making Q3 the strongest quarter since 2021

** Expects Las Bambas to reach annualised copper production run rate of more than 400,000 tonnes in Q4, re-establishing it as one of the world's top 10 largest copper mines

** MMG up 37.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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