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{{Short description|Mining company}}
{{Use dmy dates|date=November 2019}}
{{Infobox company
{{Infobox company
| name = MMG Limited
| name = MMG Limited
| logo = Minerals and Metals Group (MMG) logo.svg
| logo = MMG Logo RED.jpg
| logo_size = 125px
| logo_size = 125
| type = [[Public]]
| type = [[Public]]
| traded_as = {{HKEX|1208}}
| foundation = 17 June 2009
| foundation = 17 June 2009
| location = [[Melbourne]], [[Australia]]
| location = [[Melbourne]], Australia
| key_people = Jiqing Xu ([[Chairman]])<br>Liangang Li ([[Chief executive officer|CEO]])
| key_people = Guo Wenqing, [[Chairman]]<br>Jerry (Jian) Jiao, [[Chief executive officer|CEO]]<br>Ross Carroll, [[Chief financial officer|CFO]]<br>Mark Davis, [[EGM Operations - Africa, Australia and Asia]] <br>Suresh Vadnagra, [[EGM Operations – Americas]]<br>Greg Travers, EGM Business Support<br>Troy Hey, EGM Stakeholder Relations<br>Xu Jiqing, EGM Marketing and Risk
| industry = [[Mining (Minerals and Resources)]]
| industry = [[Mining]]
| products = [[Zinc]]<br/>[[Copper]]<br/>[[Lead]]<br/>[[Gold]]<br/>[[Silver]]
| products = [[Copper]], [[gold]], [[lead]], [[silver]], [[zinc]]
| revenue = [[US dollar|US$]] 4.3 billion
| revenue_year = 2023
| NPAT = [[US dollar|US$]] 122.1 million
| NPAT_year = 2023
| homepage = [http://www.mmg.com/ www.mmg.com]
| homepage = [http://www.mmg.com/ www.mmg.com]
}}
}}


'''MMG Limited''' ('''MMG'''; {{hkex|1208}}; {{asx|MMG}}), is a mid-tier global resources company that mines, explores and develops base metal projects around the world.
'''MMG Limited''' is a mid-tier global resources company that mines, explores and develops base metal projects around the world. MMG's largest shareholder is [[China Minmetals]] with 68%.<ref name=Overview>[https://www.mmg.com/who-we-are/company-overview/ Our Major Shareholder] MMG</ref>

MMG’s vision is to build the world’s most respected diversified base metals company. Their long-term outlook, pride in mining, commitment to international standards and respect for people, land and culture underpin their success. MMG’s slogan is We Mine for Progress.


==History==
==History==
Minerals and Metals Group was formed in June 2009, following the purchase of the majority of assets of [[OZ Minerals]] (ASX:OZL) by [[China Minmetals Corporation]] (CMC) through its subsidiary China Minmetals Nonferrous Metals Co. Ltd (CMN). Minerals and Metals Group became commonly referred to as MMG.
MMG was formed in June 2009, following the purchase of the majority of assets of [[Oz Minerals]] by [[China Minmetals]].<ref>[https://web.archive.org/web/20210227085858/https://www.ozminerals.com/about/our-history/ Our History] [[Oz Minerals]]</ref><ref>[https://www.abc.net.au/news/2009-06-18/minmetals-launches-new-company-amid-flat-demand/1324742 Minmetals launches new company amid flat demand] ''[[ABC News (Australia)|ABC News]]'' 18 June 2009</ref>


In December 2010 MMG was acquired by Minmetals Resources Limited, a subsidiary of China Minmetals Corporation and listed on the Stock Exchange of Hong Kong Limited (Stock Code: 1208).<ref name="2012report">[http://www.mmgroupltd.com/common/files/MMG_2009_Full_Financial_Report_100322.pdf MMG Financial Report 2009 Minerals and Metals Group]</ref>
In December 2010, MMG was acquired by Minmetals Resources, a subsidiary of China Minmetals and listed on the [[Hong Kong Stock Exchange]].<ref name=Overview/><ref>[https://www.mmg.com/media-release/minmetals-resources-limited-successfully-acquires-mmg-d75/ Minmetals Resources Limited successfully acquires MMG] MMG 31 December 2010</ref>


In September 2012 Minmetals Resources Limited changed its registered English company name to MMG Limited to align the assets already operating as ‘MMG’ with the registered company name.
In September 2012, Minmetals Resources Limited changed its registered company name to MMG Limited to align the assets already operating as MMG with the registered company name.<ref name=Overview/>


In December 2015, MMG became a [[dual-listed company]] when a [[secondary listing]] was made on the [[Australian Securities Exchange]].<ref>[https://web.archive.org/web/20210908113105/https://www.mmg.com/media-release/mmg-commences-trading-on-the-asx-d26/ MMG commences trading on the ASX] MMG 14 December 2015</ref> It was delisted from the Australian Securities Exchange in December 2019.<ref>[https://www.asx.com.au/asxpdf/20191101/pdf/44b63tkzx6xzvw.pdf Voluntary Delisting from ASX] [[Australian Securities Exchange]] 1 November 2019</ref>
⚫
==Operations==
⚫
MMG operate and develop copper, zinc and other base metals projects across Australia, the Democratic Republic of the Congo, Laos and Peru. It also have significant exploration projects and partnerships across Australia, Africa and the Americas.


=== Proposed tailings dam in Tasmania ===
MMG owns and operates the Lane Xang Minerals Limited (LXML) Sepon mine in [[Laos]], the [[Kinsevere]] mine in the [[Democratic Republic of Congo]], and the Dugald River mine, and Rosebery mines in Australia.
In February 2022, Resources Minister [[Guy Barnett (Australian politician)|Guy Barrett]] granted a new lease to the MMG along an access road where it wants to develop a heavy metals [[tailings dam]] in the [[Tarkine|Tarkine rainforest]].<ref name=":0">{{Cite news |date=2022-02-05 |title=New Tarkine mine lease approval about solving a 'protester issue', conservation group says |language=en-AU |work=ABC News |url=https://www.abc.net.au/news/2022-02-05/tasmanian-government-reapproves-mmg-rosebery-mine-lease/100807554 |access-date=2023-12-17}}</ref> The MMG's Rosebery dam requires a third tailing dam in order to continue operating past 2024.<ref name=":1">{{Cite news |date=2022-05-02 |title=Masked owl habitat concerns fail to stop tailings dam work in Tarkine rainforest |language=en-AU |work=ABC News |url=https://www.abc.net.au/newsi/2022-05-02/tailing-dam-works-to-continue-in-tarkine/101029822 |access-date=2023-12-17}}</ref> The decision was opposed by the Bob Brown Foundation (BBF) led by former Greens leader [[Bob Brown]] and protestors.<ref name=":0" /> The BBF subsequently challenged the decision in the [[Supreme Court of Tasmania|Tasmanian Supreme Court]] in April 2023, but was rejected by chief justice [[Alan Blow]].<ref>{{Cite news |date=2023-04-12 |title=Court throws out Bob Brown Foundation challenge to MMG mine lease |language=en-AU |work=ABC News |url=https://www.abc.net.au/news/2023-04-12/tas-court-ruling-in-tarkine-masked-owl-mmg-mine-case/102212908 |access-date=2023-12-17}}</ref><ref>{{Cite web |date=2023-04-12 |title=Tasmanian Supreme Court decision blasted as MMG mine lease allows public lock out. |url=https://bobbrown.org.au/tasmanian-supreme-court-decision-blasted-as-mmg-mine-lease-allows-public-lock-out/ |access-date=2023-12-17 |website=Bob Brown Foundation |language=en-AU}}</ref>


Another bid by the BBF in the [[Federal Court of Australia|Federal Court]] to halt work on a tailings dam in the Tarkine, saying that it would cause irreversible damage to the Tasmanian masked owl's habitat, was lost.<ref name=":1" /> However, another case in the Federal Court resulted in the BBF's favour. Mark Moshinsky found that the initial approval by the Morrison government for preliminary work in the dam was invalid and that then environment minister Sussan Ley's decision was not authorized under the [[Environment Protection and Biodiversity Conservation Act 1999|Environment Protection and Biodiversity Conservation Act]].<ref>{{Cite news |date=2022-07-25 |title=Morrison government 'failure' to consider owl scuttles Chinese-owned mine plans |language=en-AU |work=ABC News |url=https://www.abc.net.au/news/2022-07-25/bob-brown-foundation-court-win-mmg-mine-tailings-dam-approval/101265998 |access-date=2023-12-17}}</ref><ref>{{Cite web |title=Bob Brown Foundation wins legal case against MMG |url=https://www.businessnewsaustralia.com/articles/conservationists-rejoice-after-bob-brown-foundation-wins-legal-case-against-mmg.html |access-date=2023-12-17 |website=Business News Australia |language=en}}</ref>
During 2014, MMG completed the purchase of the [[Las Bambas copper mine|Las Bambas copper mine project]], a copper-gold-molybdenum deposit located in the [[Apurimac Region]] of [[Peru]].[[Minerals and Metals Group#cite note-4|<sup>[4]</sup>]] Las Bambas is a joint venture project between the operator MMG (62.5%), a wholly owned subsidiary of Guoxin International Investment Co. Ltd (22.5%) and CITIC Metal Co. Ltd (15.0%).


⚫
==Operations==
MMG also owns the Izok Corridor base metals project in [[Nunavut]], north-west [[Canada]].
⚫
MMG operate and develop copper, zinc and other base metals projects across Australia, Botswana, the Democratic Republic of the Congo and Peru.<ref>[http://www.mmg.com/en/Our-Operations/Mining-operations.aspx Mining operations] MMG</ref>

===Current===
*Dugald River mine in [[Cloncurry]], [[Queensland]]<ref>[http://www.mmg.com/en/Our-Operations/Mining-operations/Dugald-River.aspx Dugald River] MMG</ref>
*[[Kinsevere]] mine in the [[Democratic Republic of Congo]]<ref>[https://www.mmg.com/our-business/kinsevere/ Kinsevere] MMG</ref>
*[[Khoemacau]] mine in the [[Botswana]]<ref>[https://www.mmg.com/our-business/khoemacau] MMG</ref>
*[[Las Bambas copper mine]] in [[Peru]] (62.5%)<ref>[https://www.mmg.com/our-business/las-bambas/ Las Bambas] MMG</ref>
*[[Rosebery, Tasmania|Rosebery]] mine in [[Tasmania]]<ref>[https://www.mmg.com/our-business/rosebery/#Rosebery_Blurb Rosebery] MMG</ref>

===Former===
*[[Century Mine]]<ref>[https://www.mmg.com/media-release/170228-new-life-for-century-d98/ New life for Century] MMG</ref>
*[[Golden Grove Mine]]<ref>[https://web.archive.org/web/20201020142607/https://www.australianmining.com.au/news/emr-capital-completes-us210m-golden-grove-acquisition/ EMR Capital completes $US210m Golden Grove acquisition] ''Australian Mining'' 1 March 2017</ref>
*[[Sepon mine]]<ref>[https://www.mmg.com/media-release/181130-mmg-completes-sale-of-sepon-mine/ MMG completes sale of Sepon mine] MMG 30 November 2018</ref>


==References==
==References==
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{{Mining companies of Australia}}
{{Mining companies of Australia}}


{{authority control}}
[[Category:Companies established in 2009]]

⚫
[[Category:Zinc mining companies]]
[[Category:Copper mining companies]]
[[Category:Companies based in Melbourne]]
[[Category:Companies formerly listed on the Australian Securities Exchange]]
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[[Category:Lead mining companies]]
[[Category:Companies listed on the Hong Kong Stock Exchange]]
[[Category:Dual-listed companies]]
[[Category:Copper mining companies of Australia]]
[[Category:Gold mining companies of Australia]]
[[Category:Gold mining companies of Australia]]
⚫
[[Category:Silver mining companies]]
[[Category:Government-owned companies of China]]
[[Category:Government-owned companies of China]]
[[Category:Companies based in Melbourne]]
[[Category:Lead mining companies]]
[[Category:Metal companies of China]]
⚫
[[Category:Silver mining companies]]
⚫
[[Category:Zinc mining companies]]

Latest revision as of 14:02, 11 April 2024

MMG Limited
Company typePublic
SEHK: 1208
IndustryMining
Founded17 June 2009
HeadquartersMelbourne, Australia
Key people
Jiqing Xu (Chairman)
Liangang Li (CEO)
ProductsCopper, gold, lead, silver, zinc
RevenueUS$ 4.3 billion (2023)
Websitewww.mmg.com

MMG Limited is a mid-tier global resources company that mines, explores and develops base metal projects around the world. MMG's largest shareholder is China Minmetals with 68%.[1]

History

[edit]

MMG was formed in June 2009, following the purchase of the majority of assets of Oz Minerals by China Minmetals.[2][3]

In December 2010, MMG was acquired by Minmetals Resources, a subsidiary of China Minmetals and listed on the Hong Kong Stock Exchange.[1][4]

In September 2012, Minmetals Resources Limited changed its registered company name to MMG Limited to align the assets already operating as MMG with the registered company name.[1]

In December 2015, MMG became a dual-listed company when a secondary listing was made on the Australian Securities Exchange.[5] It was delisted from the Australian Securities Exchange in December 2019.[6]

Proposed tailings dam in Tasmania

[edit]

In February 2022, Resources Minister Guy Barrett granted a new lease to the MMG along an access road where it wants to develop a heavy metals tailings dam in the Tarkine rainforest.[7] The MMG's Rosebery dam requires a third tailing dam in order to continue operating past 2024.[8] The decision was opposed by the Bob Brown Foundation (BBF) led by former Greens leader Bob Brown and protestors.[7] The BBF subsequently challenged the decision in the Tasmanian Supreme Court in April 2023, but was rejected by chief justice Alan Blow.[9][10]

Another bid by the BBF in the Federal Court to halt work on a tailings dam in the Tarkine, saying that it would cause irreversible damage to the Tasmanian masked owl's habitat, was lost.[8] However, another case in the Federal Court resulted in the BBF's favour. Mark Moshinsky found that the initial approval by the Morrison government for preliminary work in the dam was invalid and that then environment minister Sussan Ley's decision was not authorized under the Environment Protection and Biodiversity Conservation Act.[11][12]

Operations

[edit]

MMG operate and develop copper, zinc and other base metals projects across Australia, Botswana, the Democratic Republic of the Congo and Peru.[13]

Current

[edit]

Former

[edit]

References

[edit]
  1. ^ a b c Our Major Shareholder MMG
  2. ^ Our History Oz Minerals
  3. ^ Minmetals launches new company amid flat demand ABC News 18 June 2009
  4. ^ Minmetals Resources Limited successfully acquires MMG MMG 31 December 2010
  5. ^ MMG commences trading on the ASX MMG 14 December 2015
  6. ^ Voluntary Delisting from ASX Australian Securities Exchange 1 November 2019
  7. ^ a b "New Tarkine mine lease approval about solving a 'protester issue', conservation group says". ABC News. 5 February 2022. Retrieved 17 December 2023.
  8. ^ a b "Masked owl habitat concerns fail to stop tailings dam work in Tarkine rainforest". ABC News. 2 May 2022. Retrieved 17 December 2023.
  9. ^ "Court throws out Bob Brown Foundation challenge to MMG mine lease". ABC News. 12 April 2023. Retrieved 17 December 2023.
  10. ^ "Tasmanian Supreme Court decision blasted as MMG mine lease allows public lock out". Bob Brown Foundation. 12 April 2023. Retrieved 17 December 2023.
  11. ^ "Morrison government 'failure' to consider owl scuttles Chinese-owned mine plans". ABC News. 25 July 2022. Retrieved 17 December 2023.
  12. ^ "Bob Brown Foundation wins legal case against MMG". Business News Australia. Retrieved 17 December 2023.
  13. ^ Mining operations MMG
  14. ^ Dugald River MMG
  15. ^ Kinsevere MMG
  16. ^ [1] MMG
  17. ^ Las Bambas MMG
  18. ^ Rosebery MMG
  19. ^ New life for Century MMG
  20. ^ EMR Capital completes $US210m Golden Grove acquisition Australian Mining 1 March 2017
  21. ^ MMG completes sale of Sepon mine MMG 30 November 2018
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