Core Insights - MMG's total copper production reached 118,213 tons in Q1 2025, a 76% increase year-on-year, driven by improved output from Las Bambas and Kinsevere, as well as Khoemacau achieving full quarterly production [1] - Zinc production totaled 51,755 tons in Q1 2025, a 13% decrease year-on-year, primarily due to forest fires and floods affecting Dugald River and scheduled maintenance at Rosebery [1] - Las Bambas has enhanced community cooperation to promote sustainable growth, focusing on business development, employment, education, healthcare, infrastructure, agriculture, and leadership programs [2] Group 1: Copper Production - Las Bambas maintained stable production with a mining grade of 0.88% and a copper recovery rate of 88.1% [1] - Kinsevere's production increased by 19% year-on-year, attributed to the ramp-up of the sulfide production line [1] - Copper concentrate sales from Las Bambas reached 385,688 tons in Q1 2025, significantly up from 205,828 tons in the same period of 2024 [2] Group 2: Zinc Production - The decrease in zinc production was influenced by adverse events at Dugald River and maintenance at Rosebery, with expectations for improved output in Q2 [1] - Rosebery's production strategy focuses on zinc equivalent production, yielding consistent performance [1] Group 3: Community and Sustainability Initiatives - The Corhuan company from the Huancuire community received a copper concentrate transportation contract and deployed 30 new trucks [2] - The "engineering tax credit" program funded the construction of fourteen schools in the Mara region [2] - Las Bambas has increased its transportation capacity, now operating 155 permitted trucks, contributing to the rise in copper concentrate sales [2] Group 4: Future Growth Plans - Kinsevere's expansion project is progressing steadily, with production reaching 35,100 tons of concentrate [2] - The roasting plant's conversion rate improved to 90.4%, with expectations for increased electrolytic copper production in 2025 [2] - Khoemacau's expansion project, targeting an annual capacity of 130,000 tons, has commenced preliminary engineering work [2]
五矿资源(01208)一季度铜总产量达约11.82万吨 同比增长76%