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[Pb Ore]MMG Limited Cuts Its Target of Lead Concentrate Output in 2015 on Low Lead Content
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SHANGHAI, Jul. 30 (SMM) - MMG Limited lowered its target of this year’s lead concentrate production by 18,000 tonnes due to weaker-than-expected lead content in ores, SMM stated.

Growth in lead concentrate output should fall below 10% this year.

The company produced 33,000 tonnes concentrate in Q2 this year, up 22% YoY and surging 79% QoQ. The output totaled 51,000 tonnes in H1 2015, up by 12% versus H1 2014, the company’s production report for Q2 showed.

SMM estimates that three mines of the company produce 90,000-100,000 tonnes concentrate per year, citing 92,000 tonnes in 2014.

Century, one of the mines, saw a production of 24,000 tonnes in Q2, rising 13% YoY and 85% QoQ with total output up 10% YoY to 37,000 tonnes in the first half year. The increasing processes offset the low lead content, which contributed to the production growth in H1. 60,000-70,000 tonnes concentrate (concentrate produced from Dugald River ores excluded) is expected at this mine in 2015.

Golden Grove mine produced 3,000 tonnes concentrate in April-June 2015, up 1.7 times YoY but no concentrate was generated in Q1.

Concentrate production at Rosebery mine was 6,000 tonnes in Q2 2015, up 27% YoY and 10% QoQ. The output totaled 11,000 tonnes in January-June 2015, rising 3% from a year ago, which was mainly because of high lead content and growing processes. But weaker-than-forecast lead content cut the mime’s target of concentrate production by 3,000 tonnes. Thus, lead concentrate at the mine should be 19,000-21,000 tonnes in 2015.

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MMG Limited
lead concentrate
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