MMG Limited
| Company type | Public company |
|---|---|
| Industry | Mining |
| Founded | June 2009 |
| Founder | China Minmetals (majority shareholder) |
| Headquarters | International |
Area served | Australia, Botswana, Democratic Republic of the Congo, Peru |
Key people | Guy Barnett (mentioned as Resources Minister related to lease) |
| Products | Copper, zinc, other base metals |
| Owner | China Minmetals (68%) |
MMG Limited is a global mid-tier resources enterprise engaged in the mining, exploration, and development of base metal projects internationally. Its principal shareholder is China Minmetals, holding a 68% stake.
History
MMG was formed in June 2009 following the acquisition of the majority of Oz Minerals' assets by China Minmetals.
In December 2010, Minmetals Resources, a subsidiary of China Minmetals listed on the Hong Kong Stock Exchange, took over MMG. By September 2012, Minmetals Resources Limited adopted the name MMG Limited to better reflect its operational holdings.
From December 2015 until its withdrawal in December 2019, MMG maintained a secondary listing on the Australian Securities Exchange.
Proposed tailings dam in Tasmania
In February 2022, Tasmania's Resources Minister Guy Barnett granted MMG a new lease to construct a heavy metals tailings dam within the Tarkine rainforest, intended to extend activities at its Rosebery mine beyond 2024. This approval encountered resistance from the Bob Brown Foundation (BBF) and various protesters.
The BBF contested the lease authorization in the Tasmanian Supreme Court in April 2023 but was unsuccessful. Additionally, an attempt in Federal Court to stop tailings dam construction due to concerns over the habitat of the Tasmanian masked owl was also rejected. Nevertheless, another Federal Court decision determined that the Morrison government's initial endorsement for preliminary dam construction contravened the Environment Protection and Biodiversity Conservation Act, thereby affecting MMG's development plans.
Operations
MMG manages and advances copper, zinc, and other base metal ventures located in Australia, Botswana, the Democratic Republic of the Congo, and Peru.
Current
- Dugald River mine located in Cloncurry, Queensland
- Kinsevere mine situated in the Democratic Republic of Congo
- Khoemacau mine based in Botswana
- Las Bambas copper mine in Peru, with a 62.5% ownership share
- Rosebery mine found in Tasmania