MMG Flags US$280–300 Million Kinsevere Impairment but Maintains Strong 2025 Profit Outlook

MMG ( (HK:1208) ) has shared an update.

MMG Limited has warned that its 2025 results will include a non-cash impairment charge of approximately US$280 million to US$300 million tied to its Kinsevere operation in the Democratic Republic of the Congo, following a review that identified issues such as cobalt sales limitations, power-related production disruptions, ramp-up and operational challenges, and fiscal regime uncertainties. Despite the write-down and headwinds including power interruptions at Kinsevere, ongoing cobalt export restrictions and hedging losses, the miner still expects to report a substantial unaudited net profit after tax attributable to equity holders of between US$500 million and US$520 million for 2025, underpinned by strong operating performances at Las Bambas and Dugald River and elevated prices for copper and precious metals, with the impairment having no impact on the group’s cash flow.

The most recent analyst rating on (HK:1208) stock is a Hold with a HK$11.50 price target. To see the full list of analyst forecasts on MMG stock, see the HK:1208 Stock Forecast page.

More about MMG

MMG Limited is a Hong Kong–incorporated resources company focused on the exploration, development and mining of base metals, notably copper and cobalt, with key operations including the Las Bambas mine in Peru, the Dugald River zinc operation in Australia and the Kinsevere copper operation in the Democratic Republic of the Congo.

Average Trading Volume: 53,270,133

Technical Sentiment Signal: Buy

Current Market Cap: HK$132.1B

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