Miner MMG's Shares Jump on Strong Annual Output

By Jason Chau

Shares of China-backed MMG surged after the mining company reported strong production growth across several metal assets last year.

The miner's Hong Kong-listed stock jumped as much as 13% to its highest level since 1999, before pulling back slightly. Shares were recently 10% higher in Friday afternoon trading.

Annual output of copper and zinc at MMG's mines rose by 28% and 6%, respectively, while gold and silver production increased by 22% and 17%, according to the company's fourth-quarter production report published Thursday.

"2025 was a year of solid operational performance for MMG, marked by record and near-record production across key assets," the miner said. The company attributed the strong copper performance to deliveries from its flagship Las Bambas mine in Peru that exceeded the top end of management's guidance.

MMG is a mid-tier miner that operates copper, zinc and other base-metal projects in Australia, Peru and Africa. Its is majority owned by state-owned China Minmetals, which holds a close to 70% stake in the company.

Looking ahead, the miner plans to expand production capacity at its Khoemacau project in Botswana.

The company also expects record-high gold and silver prices to bolster its financial performance. "If these elevated prices are sustained, they are likely to support the company's profitability," it said.

Write to Jason Chau at jason.chau@wsj.com

(END) Dow Jones Newswires

January 23, 2026 01:48 ET (06:48 GMT)