MMG Limited (MMG) has reported a strong start to 2026, posting solid first-quarter production results alongside notable improvements in safety performance across its operations.
The company reaffirmed that safety remains its top priority, with key indicators showing progress during the period. Total Recordable Injury Frequency (TRIF) declined to 1.85 per million hours worked, down from 2.08 recorded in the fourth quarter of 2025.
Meanwhile, the Significant Events with Energy Exchange Frequency (SEEEF) improved to 0.34 per million hours worked, reflecting enhanced operational discipline.
Copper production saw a robust increase, rising nine per cent year-on-year to 128,698 tonnes, including both concentrate and cathode output. The growth was largely driven by strong performances at the Las Bambas and Kinsevere operations.
Precious metals production also recorded significant gains, with gold output rising 24 per cent and silver increasing by 27 per cent compared to the same period last year. Total production reached 32,177 ounces of gold and 2,888,861 ounces of silver.
Zinc production, however, declined slightly, with total output at 50,263 tonnes, representing a three per cent drop year-on-year.
“MMG has started 2026 strongly, with stable production across our operations and importantly, improvement in our safety performance,” said Ivo Zhao, Chief Executive Officer of MMG.
He added that the company will continue monitoring market conditions while leveraging new technologies to optimise performance and costs.
At the asset level, Las Bambas delivered a six per cent increase in copper production to 101,003 tonnes, supported by improved metallurgical recovery, higher throughput, and better feed grade from the Ferrobamba pit.
Kinsevere recorded a 44 per cent surge in output to 16,820 tonnes of copper cathode, driven by the ramp-up of the Roaster-Gas Cleaning-Acid Plant (RGA) and efforts to strengthen power supply resilience. Production at Khoemacau remained steady at 10,660 tonnes.
In zinc operations, Dugald River produced 41,104 tonnes, maintaining levels similar to the previous year despite major flooding and rail disruptions.
Rosebery recorded an eight per cent increase in zinc equivalent production to 31,347 tonnes, with strong by-product contributions offsetting lower ore grades.
MMG continues to prioritise copper growth as part of its long-term strategy. The company recently marked the groundbreaking of the Khoemacau Expansion project, which is progressing as planned.
The expansion is expected to boost Khoemacau’s annual production capacity to 130,000 tonnes of copper by 2028, with potential to reach 200,000 tonnes over time.
The company’s full report can be accessed here.