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MMG Limited Secures Favorable Tax Court Ruling in Peru

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MMG Limited Secures Favorable Tax Court Ruling in Peru

An update from MMG ( (HK:1208) ) is now available.

MMG Limited announced a favorable decision from the Tax Court in Peru regarding tax assessments for its subsidiary, Minera Las Bambas S.A., for the years 2014 to 2018. The court ruled that MLB is entitled to substantial tax losses and interest deductions, significantly reducing the 2018 income tax assessment from US$912 million to zero. This decision alleviates the uncertainty of tax liabilities amounting to US$2,016 million as alleged by SUNAT, although it remains unclear if SUNAT will appeal. MMG will continue to monitor the situation for future audits beyond 2018.

More about MMG

MMG Limited is a company incorporated in Hong Kong, operating in the mining industry. It focuses on the extraction and production of minerals, with a significant market focus on its operations in Peru, particularly through its subsidiary Minera Las Bambas S.A.

YTD Price Performance: 0.31%

Average Trading Volume: 4,480

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $3.54B

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