A summary of Australian-Chinese miner MMG's production results for the first half year ended June 30, 2020, as well as its full-year production guidance.
In brief
MMG's earnings before interest, taxes, depreciation and amortization (Ebitda) was $383.6 million in the first half this year, a drop of 41% from the corresponding period in 2019 due to lower commodity prices and sales volumes resulting from the effects of Covid-19. Revenue from copper fell by 14% to $851.9 million, while molybdenum revenue was $4.4 million in the six months to June 30, down 79%. Copper concentrate sales volumes in the first half of 2020 rose to 396,407 tonnes...