MMG has hailed Dugald River zinc mine in its interim financial results statement for the first half of 2018.
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The Company reported net profit after tax of US$188.8 million producing over 105,000 tonnes of zinc in that time.
MMG CEO Geoffrey Gao said the successful ramp-up of Dugald River, higher realised commodity prices and a focus on group-wide efficiencies had contributed to a good financial result.
“Since the beginning of the year we have achieved commercial production at Dugald River, further simplified and optimised our asset portfolio by agreeing the sale of Sepon, and continued to focus on reducing debt,” Mr Gao said.
“The ramp up of Dugald River and the achievement of commercial production ahead of schedule has been an outstanding achievement and further demonstrates MMG’s ability to deliver world class assets. Our focus now is on optimising the operation, increasing efficiencies and reducing costs.”
Dugald River, 70km north of Cloncurry will rank in the top 10 global zinc mines when fully operational.
It will have an annual production of around 170,000 tonnes of zinc in zinc concentrate at full ramp-up, plus by-products.
Read also: MMG move Dugald River into operations mode