MMG profit more than triples on copper rally, strong output
MMG said profit more than tripled last year, buoyed by higher commodity prices and strong output at key mines, though still fell short of analyst estimates.
The Chinese-owned mining company’s net income for 2025 reached $509-million, according to a filing, missing the $701-million consensus. It was the strongest annual profit since 2021.
Copper prices strengthened in 2025, driven by robust demand for energy transition applications and accelerating development of artificial intelligence-related data centers, according to chairman Cao Liang.
“At the same time, precious metals continue to attract investment during periods of global uncertainty,” he said.
The firm saw growth at the Las Bambas mine in Peru and Dugald River in Australia. Still, earnings were hurt by an impairment charge in its Kinsevere mine in the Democratic Republic of the Congo.
The firm has set aside contingency plans in Las Bambas ahead of the Peru election in next month, so it could still hit stable production even “under special circumstances”, MMG’s president of Las Bambas Xuesong Chen said in an earnings call Wednesday.
“We will continue to pay attention to external situation and make adjustments to our strategies in order to guard against risk,” Chen said.
Capital expenditure for Las Bambas in 2026 will increase by $800-million to $850-million for upgrading and revamping existing production facilities, taking into account the rapid increase in copper prices.
Las Bambas is Peru’s largest copper mine and the Chinese company’s cornerstone asset, but its operations have been hit by years of sporadic social unrest — sometimes tied to political tensions in the Andean nation.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
VISIT SHOWROOM
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
