MMG posts higher first-quarter copper, gold and silver output despite softer zinc

The latest update is out from MMG ( (HK:1208) ).

MMG Limited has released its production report for the first quarter of 2026, showing total copper output from its operated mines reached 111,878 tonnes, up 5% year-on-year, driven mainly by higher production at Las Bambas, while Kinsevere’s copper cathode output rose 44%. The group also recorded a 24% increase in gold and a 27% rise in silver production, although total zinc output slipped 3% and lead remained broadly flat, underscoring a mixed performance across its asset base that will be closely watched by investors tracking MMG’s commodity mix and operational momentum.

Las Bambas remained the cornerstone asset with solid gains in copper, gold and silver, partly offset by weaker contributions from the Rosebery polymetallic mine, where copper, zinc and lead production all declined versus the prior year. Management highlighted that first-quarter volumes at several sites were lower than the previous quarter, especially for zinc and lead at Dugald River and Rosebery, suggesting near-term variability in quarterly output even as the company maintains year-on-year growth in key metals central to global energy transition demand.

The most recent analyst rating on (HK:1208) stock is a Hold with a HK$9.50 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 operation of base metal mines, particularly copper and zinc. Its portfolio includes the Las Bambas copper mine in Peru, the Kinsevere operation in the Democratic Republic of Congo, Dugald River and Rosebery in Australia, and the Khoemacau copper mine in Botswana, positioning MMG as a diversified global producer of copper, zinc, lead, gold, silver and molybdenum.

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Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$103.3B

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