MMG (1208)

Business description

MMG is a mid-tier global resources company that explores, develops and mines base metal deposits around the world. Its headquarters are in Melbourne, Australia, and it is listed on the Hong Kong Stock Exchange.

Stock data

Market cap.HK$9786.6m
Last closeHK$1.85
High / Low (52 weeks)HK$2.7 / HK$1.4
Stock market listingHK
Forecast net debt (US$m)9833
Forecast gearing ratio (%)414
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual13.58.2(31.7)
Relative *14.37.8(13.3)

* % Relative to local index

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Company news

/quotes/zigman/3870025/realtime

Tue, 19 Oct 2010 08:18:08 GMT

China's MMG Ltd to spend $3 billion to complete Peru mine

Thu, 16 Oct 2014 06:00:00 GMT

MMG swings to loss and books $784 million write down

Wed, 09 Mar 2016 14:26:15 GMT

China's MMG output plan for Peru copper mine tops forecasts

Thu, 28 Jan 2016 01:07:30 GMT

Segue Resources lands MMG Ltd investment in Fraser Range nickel project

Fri, 18 Sep 2015 00:19:57 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2014A 2480.0 781.0 164.0 2.0 11.9 1.7
2015A 1951.0 421.0 (314.0) (4.6) N/A 3.4
2016E 2404.0 1194.5 (65.0) (1.7) N/A 1.1
2017E 4000.0 2422.3 815.0 6.5 3.7 0.5

Last updated on 23/05/2016

Investment summary

Project construction at Las Bambas is now complete, with the molybdenum plant in commissioning. MMG continues to expect to produce 250-300,000 tonnes copper in concentrate in 2016, with commercial production achieved in H2 CY16. Once the plant achieves a steady state of production, C1 costs are expected to be within a US$0.80-90/lb copper range. Early works are continuing at Dugald River to the updated development plan. First zinc concentrate production is expected in H1 CY18. The Dugald River project remains subject to financing.

Last updated on 01/06/2016

Industry outlook

The copper price has recently declined from around US$2.25/lb to US$2.10/lb, possibly due to a stronger US dollar. Zinc prices have been more stable and tending to consolidate within a US$0.84-0.86/lb range.

Last updated on 01/06/2016

Key management

Jiao Jian, Chairman
Andrew Michelmore, CEO
David Lamont, CFO
Maggie Qin, Head of Corporate Affairs
Marcelo Bastos, COO

Company address

Level 23
28 Freshwater Place
Southbank
VIC 3006
Australia
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