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MMG LIMITED

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Delayed Hong Kong Stock Exchange  -  05/19 04:08:33 am EDT
3.230 HKD   -2.12%
05:02pPeru fails yet again to broker truce allowing MMG's Las Bambas mine restart
RE
05/17Peru mining protests risk clogging $53 billion investment pipeline, industry warns
RE
05/12Peru community wants its land back, threatening Chinese copper mine
RE
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Copper slips in range-bound trade, aluminium shines on supply worries

12/29/2021 | 10:57pm EDT

Dec 30 (Reuters) - Copper prices edged down in range-bound Asian trading on Thursday as 2021 draws to a close, but persisting concerns over supply propelled Shanghai aluminium to a two-month high.

Three-month copper on the London Metal Exchange was down 0.1% at $9,667 a tonne by 0333 GMT, after touching a one-month high in the previous session.

The most-traded February copper contract on the Shanghai Futures Exchange ended morning trade 0.4% lower at 69,970 yuan ($10,987.75) a tonne.

Shanghai aluminium rose as much as 3.6% to 20,585 yuan a tonne, its highest since Oct. 27, while LME aluminium advanced 0.6% to $2,828.50 a tonne, after a two-day decline.

FUNDAMENTALS

* China aims to cut energy consumption of steel by 2%, and to lower carbon emissions in the aluminium sector by 5% by 2025, the country's industry ministry said in a raw materials development plan on Wednesday.

* Alcoa Corp reached a deal with workers to end primary aluminium production at its San Ciprian facility in Spain for two years, the Industry Ministry said on Wednesday, as soaring European energy prices pressure heavy electricity users.

* Chilean miner Antofagasta PLC has agreed to supply copper concentrate to some Chinese smelters at treatment and refining charges of $65 a tonne and 6.5 cents per lb next year, two sources with knowledge of the matter said.

* Peru's government is still far from reaching a deal that would ensure the restart of MMG Ltd's huge Las Bambas copper mine, a community advisor and a government source said on Wednesday, a day before a crucial meeting with local communities whose road blockade derailed the mining company's operations.

* For the top stories in metals and other news, click or

MARKETS NEWS

* Asian share markets got off to a listless start on Thursday as the spread of Omicron clouded what is the last trading day of the year for many exchanges around the globe, while oil was close to finishing 2021 with gains of more than 50%.

DATA/EVENTS

1330 US Initial Jobless Clm Weekly

PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminium

Most active ShFE aluminium

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS

($1 = 6.3680 yuan) (Reporting by Enrico Dela Cruz in Manila; Editing by Devika Syamnath)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALCOA CORPORATION 2.55% 62.05 Delayed Quote.1.56%
ANTOFAGASTA PLC 1.14% 1425 Delayed Quote.5.27%
LB GROUP CO., LTD. 1.16% 18.39 End-of-day quote.-35.68%
LONDON BRENT OIL 1.93% 111.33 Delayed Quote.44.70%
MMG LIMITED -2.12% 3.23 Delayed Quote.32.00%
S&P GSCI ALUMINUM INDEX 1.82% 184.7341 Real-time Quote.1.73%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.70% 6.7293 Delayed Quote.5.96%
WTI 0.96% 109.123 Delayed Quote.50.98%
All news about MMG LIMITED
05:02pPeru fails yet again to broker truce allowing MMG's Las Bambas mine restart
RE
05/17Peru mining protests risk clogging $53 billion investment pipeline, industry warns
RE
05/12Peru community wants its land back, threatening Chinese copper mine
RE
05/11Copper gains after half of Shanghai achieves 'zero-COVID' status
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05/11Base metals rise after half of Shanghai achieves 'zero COVID' status
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05/10Copper, aluminium prices gain ahead of U.S. inflation data
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05/10Peru fails to broker deal to allow for MMG's Las Bambas mine restart
RE
05/10Peru to increase public spending in mining regions to curb social conflicts
RE
05/07Peru's government postpones meeting with Las Bambas mine protesters until Tuesday
RE
05/06Peruvian protesters agree to attend talks over MMG's shut copper mine
RE
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Financials (USD)
Sales 2022 4 618 M - -
Net income 2022 628 M - -
Net Debt 2022 4 194 M - -
P/E ratio 2022 5,51x
Yield 2022 -
Capitalization 3 556 M 3 556 M -
EV / Sales 2022 1,68x
EV / Sales 2023 1,43x
Nbr of Employees 4 238
Free-Float 32,3%
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Number of Analysts 10
Last Close Price 0,41 $
Average target price 0,52 $
Spread / Average Target 25,5%
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Managers and Directors
Lian Gang Li CEO, Executive Director & Executive GM-Commercial
Ross Anthony Carroll Chief Financial Officer
Jian Jiao Chairman
Peter William Cassidy Independent Non-Executive Director
Cheuk Yan Leung Independent Non-Executive Director