Minerals and Metals Group

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MMG Limited
Public
ISINHK1208013172 Edit this on Wikidata
IndustryMining (Minerals and Resources)
Founded17 June 2009
HeadquartersMelbourne, Australia
Key people
Guo Wenqing, Chairman
Geoffrey (Xiaoyu) Gao, CEO
Ross Carroll, CFO
Suresh Vadnagra, EGM Operations – Africa and Australia
Troy Hey, EGM Corporate Relations
Wei Jianxian, EGM Operations - Americas
Li Liangang, EGM - Commercial
ProductsZinc
Copper
Lead
Gold
Silver
Websitewww.mmg.com

MMG Limited (MMG; SEHK1208; ASXMMG), is a mid-tier global resources company that mines, explores and develops base metal projects around the world. MMG's major shareholder is China Minmetals Corporation (CMC), a Chinese state-owned enterprise. CMC owns approximately 75% of MMG's shares.[1]

History[edit]

Minerals and Metals Group was formed in June 2009, following the purchase of the majority of assets of OZ Minerals (ASX:OZL) by China Minmetals Corporation (CMC) through its subsidiary China Minmetals Nonferrous Metals Co. Ltd (CMN). Minerals and Metals Group became commonly referred to as MMG.

In December 2010 MMG was acquired by Minmetals Resources Limited, a subsidiary of China Minmetals Corporation and listed on the Stock Exchange of Hong Kong Limited (Stock Code: 1208).[2]

In September 2012 Minmetals Resources Limited changed its registered English company name to MMG Limited to align the assets already operating as ‘MMG’ with the registered company name.

In 2016, MMG was ranked as the third best of 92 oil, gas, and mining companies on indigenous rights in the Arctic.[3]

Operations[edit]

MMG operate and develop copper, zinc and other base metals projects across Australia, the Democratic Republic of the Congo and Peru.[4]

MMG owns and operates the Las Bambas copper mine in Peru, the Kinsevere mine in the Democratic Republic of Congo, the Dugald River mine at Cloncurry,[5] and Rosebery mines in Tasmania, Australia.[6]

During 2014, MMG completed the purchase of the Las Bambas copper mine project, a copper-gold-molybdenum deposit located in the Apurímac Region of Peru. Las Bambas is a joint venture project between the operator MMG (62.5%), a wholly owned subsidiary of Guoxin International Investment Co. Ltd (22.5%) and CITIC Metal Co. Ltd (15.0%). A conflict in 2015 involving the Peruvian Government, the mine's owners and the local population left a death toll of 4[7][circular reference].

MMG also owns the Izok Corridor base metals project in Nunavut, north-west Canada.

References[edit]

  1. ^ MMG's Webpage | About Us: Our Major Shareholder
  2. ^ MMG Financial Report 2009 Minerals and Metals Group
  3. ^ Overland, Indra (2016). "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic". ResearchGate. Arran. Retrieved 2 August 2018.
  4. ^ http://www.mmg.com/en/Our-Operations/Mining-operations.aspx
  5. ^ http://www.mmg.com/en/Our-Operations/Mining-operations/Dugald-River.aspx
  6. ^ http://www.mmg.com/en/Our-Operations/Mining-operations.aspx
  7. ^ Peruvian protests against Las Bambas mining project