|Bid||3.640 x 0|
|Ask||3.650 x 0|
|Day's Range||3.410 - 3.700|
|52 Week Range||2.730 - 6.530|
|Beta (3Y Monthly)||2.00|
|PE Ratio (TTM)||25.25|
|Earnings Date||Aug 15, 2017 - Aug 21, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.86|
Capital expenditure among the 10 largest metals and mining companies is forecast to advance to about $35 billion this year, the first annual rise since 2013, according to data compiled by Bloomberg. At the same time, the value of M&A in the sector has already surged to the highest in six years, spurred by deals including Barrick Gold Corp.’s $5.4 billion acquisition of Randgold Resources Ltd. “You are seeing a sort of a pivot to growth,” said Camille Simeon, a Sydney-based investment manager at Aberdeen Standard Investments, which manages about $730 billion in assets including BHP Billiton Ltd. and Rio Tinto Group shares.
Oct 18 (Reuters) - MMG Ltd: * QTRLY TOTAL COPPER PRODUCTION 87,087 TONNES, DOWN 24 PERCENT * QTRLY LEAD PRODUCTION 11,827 TONNES, UP 83% * QTRLY ZINC PRODUCTION 57,595 TONNES, UP 234 PERCENT Source text ...
Sept 18 (Reuters) - MMG Ltd: * LAS BAMBAS COPPER IN CONCENTRATE PRODUCTION IN 2018 IS NOW LIKELY TO BE IN RANGE OF 375,000 TONNES TO 395,000 TONNES * 2018 C1 COSTS ARE ALSO EXPECTED TO RISE SLIGHTLY ON ...
The prime minister of Democratic Republic of Congo will sign a decree in the coming days to designate cobalt and other minerals as "strategic" and therefore subject to higher royalties, Mines Minister Martin Kabwelulu said on Saturday. The change is part of a new mining code, which mining companies including Glencore (GLEN.L) and Randgold (RRS.L) oppose as it axes tax exemptions and hikes royalties and profit taxes. The government has not yet formally announced which metals will be classed as strategic in the new code and subject to royalties of 10 percent.
D emocratic Republic of Congo's mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question. Addressing a mining conference in the copper and cobalt-mining city of Kolwezi, Martin Kabwelulu called on industry leaders to work to implement the code as it was promulgated by President Joseph Kabila. Major mining companies including Glencore and Randgold bitterly opposed the code, which axes tax exemptions and hikes royalties and profit taxes.
Aug 20 (Reuters) - MMG Ltd: * MMG DUGALD RIVER ENTERED INTO ZINC CONCENTRATE SALES AGREEMENT WITH MINMETALS NORTH-EUROPE * PROPOSES MAX AMOUNT PAYABLE BY MINMETALS NORTH-EUROPE UNDER AGREEMENT FOR FINANCIAL ...
Aug 20 (Reuters) - MMG Ltd: * HY PROFIT ATTRIBUTABLE US$ 128.7 MILLION VERSUS US$17.8 MILLION * HY REVENUE FROM CONTINUING OPERATIONS US$ 1,898.8 MILLION VERSUS US$1,749.8 MILLION * EXPECTS TO PRODUCE ...
Global trade disputes and political tensions have sent prices of battery metal lead to 14-month lows but tight supplies, shortages and seasonally strong demand for the coming northern winter suggest a possible change of tack. The possibility of protracted trade tensions between the United States and China, and worries about economic growth pushed lead (CMPB3) on the London Metal Exchange down to $2,074 a tonne on Aug. 6, its lowest since June last year. "Mine supply is barely growing, we are forecasting a 0.4 percent increase to 5.4 million tonnes this year," said Wood Mackenzie lead analyst Farid Ahmed.
Peruvian President Martin Vizcarra told Reuters his government will likely pass laws within six months needed to tap a new lithium and uranium deposit, removing a major hurdle for Canadian miner Plateau Energy Metals' proposed $800 million mine. Plateau said last month it had found 2.5 million tonnes of high-grade lithium resources and 124 million pounds of uranium resources at its Falchani deposit in southern Peru, and was looking for a partner in what it said could become the world's biggest lithium mine.
Randgold Resources is not yet paying the higher royalties and taxes required by the Democratic Republic of Congo's new mining code as the gold miner is still negotiating with the government, its executives said on Thursday. Congo's new mining law, effective from June, removes a 10-year stability clause despite fervent opposition from companies operating in the country, including Glencore, MMG Ltd, Ivanhoe Mines and China Molybdenum . Miner and trader Glencore said on Wednesday it was paying the higher royalties, and at least one other copper and cobalt producer said it is also doing so.
Privately held Dundas Mining is restarting its Avebury nickel mine in Tasmania early next year and Swiss trading house Transamine has secured the offtake, a source familiar with the matter said on Tuesday. Avebury, which had most recently been owned by China-backed MMG, was sold to Dundas last year and has been on care and maintenance since 2009. The will produce around 7,000-8,000 tonnes of nickel and Transamine has secured offtake for the full amount, the person said.
Aug 1 (Reuters) - MMG Ltd: * JIAO JIAN HAS RESIGNED AS CHIEF EXECUTIVE OFFICER * GAO XIAOYU APPOINTED AS CEO * JIAO JIAN RE-DESIGNATED FROM EXECUTIVE DIRECTOR TO NON-EXECUTIVE DIRECTOR * GAO XIAOYU RE-DESIGNATED ...
July 23 (Reuters) - MMG Ltd: * Q2 COPPER CATHODE PRODUCTION 37,457 TONNES, UP 6% * Q2 COPPER PRODUCTION 99,941 TONNES, DOWN 7 PERCENT * QTRLY TOTAL ZINC PRODUCTION OF 58,090 TONNES, UP 23 PERCENT QOQ * ...
Expectations for a rise in zinc concentrate supplies in coming years have driven down the metal price to one-year lows, but smelting capacity constraints suggest the sell-off is premature. Prices of the metal, which is used to galvanise steel, have underperformed other LME metals this year. Projects that will deliver more zinc concentrate to market include Vedanta's (VED.L) Gamsberg mine in South Africa and three Australian projects, namely Dugald River owned by MMG , another mine run by New Century Resources (NCZ.AX) and Glencore's (GLEN.L) Lady Loretta mine.
Canadian miner Barrick Gold Corp and China's Shandong Gold on Monday said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions. Barrick Gold, the world's largest producer of bullion, last year signed a near billion-dollar deal to sell Shandong a 50-percent stake in its Veladero mine in Argentina. The development is one of Barrick's top five gold mines.
June 21 (Reuters) - MMG Ltd: * UNIT TO SELL MMG LAOS HOLDINGS TO CHIFENG JILONG GOLD MINING FOR $275 MILLION * UNIT MMG AUSTRALIA TO ENTER DEAL WITH CHIFENG JILONG GOLD MINING, MMG LAOS AND LANE XANG MINERALS ...
Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday. The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore (GLEN.L) and Randgold (RRS.L), which threatened legal action against the government last week if their concerns about tax hikes and the elimination of exemptions were not addressed. "The code will be applied as it was promulgated!" Mines Minister Martin Kabwelulu told Reuters in a text message.
Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday. The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore and Randgold, which threatened legal action against the government last week if their concerns about tax hikes and the elimination of exemptions were not addressed. "The code will be applied as it was promulgated!" Mines Minister Martin Kabwelulu told Reuters in a text message.
June 1 (Reuters) - MMG Ltd: * AN MMG LXML EMPLOYEE AT CO'S SEPON MINE IN LAOS DIED FOLLOWING A INCIDENT WHICH OCCURRED ON SITE WHILST HE WAS DRIVING A LIGHT VEHICLE * CO SAYS IT IS WORKING WITH LOCAL AUTHORITIES ...
April 23 (Reuters) - MMG Ltd: * QTRLY TOTAL COPPER PRODUCTION 127,751 TONNES, DOWN 14 PERCENT * QTRLY TOTAL ZINC (CONTAINED METAL IN CONCENTRATE) PRODUCTION 47,138 TONNES, UP 146 PERCENT * MMG MAINTAINS ...
In an ornate room in Democratic Republic of Congo's presidential palace last week, some of global mining's most powerful men faced off against government officials over proposed changes to the country's mining code. Facing the officials, including President Joseph Kabila, the executives at times threatened to pursue arbitration or close mines if the government went ahead with changes including royalty increases, according to one of the president's top advisers, Barnabe Kikaya bin Karubi, who attended the meeting.
The miners said in a joint statement that a team representing the companies had arrived in Kinshasa and would begin detailed talks soon with the government on implementation of the new rules signed into law last Friday by DRC President Joseph Kabila. International mining companies including Glencore, Randgold, Ivanhoe Mines, MMG and China Molybdenum have vigorously opposed the new law.
Democratic Republic of Congo President Joseph Kabila signed into law on Friday a new mining code that raises royalties and taxes on operators, the presidency said in a statement. International mining companies that operate in Congo, Africa's top copper producer, have vigorously opposed the new law, although Kabila pledged this week to work with them while implementing it. Executives from Glencore, Randgold, China Molybdenum and Ivanhoe failed to convince Kabila during a six-hour meeting on Wednesday to re-open negotiations over the code, which they say will deter investment and violate existing agreements.