MMG Limited: Difference between revisions
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{{Infobox company |
{{Infobox company |
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|name = MMG Limited |
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|logo = Minerals and Metals Group (MMG) logo.svg |
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|logo_size = 125 |
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|type = [[Public]] |
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|traded_as = {{HKEX|1208}} |
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|foundation = 17 June 2009 |
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|location = [[Melbourne]], Australia |
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| key_people = Guo Wenqing, [[Chairman]]<br>Geoffrey (Xiaoyu) Gao, [[Chief executive officer|CEO]]<br>Ross Carroll, [[Chief financial officer|CFO]]<br>Suresh Vadnagra, [[EGM Operations – Africa and Australia]]<br>Troy Hey, EGM Corporate Relations<br>Wei Jianxian, EGM Operations - Americas<br>Li Liangang, EGM - Commercial |
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|key_people = Guo Wenqing ([[Chairman]])<br>Geoffrey Gao ([[Chief executive officer|CEO]]) |
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| industry = [[Mining (Minerals and Resources)]] |
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|industry = [[Mining]] |
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| products = [[Zinc]]<br/>[[Copper]]<br/>[[Lead]]<br/>[[Gold]]<br/>[[Silver]] |
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|products = [[Copper]], [[gold]], [[lead]], [[silver]], [[zinc]] |
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|revenue = [[US dollar|US$]] 3.0 billion |
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}} |
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|revenue_year = 2020 |
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|operating_income = [[US dollar|US$]] 1.4 billion |
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|income_year = 2020 |
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|net_income = [[US dollar|US$]] 6 million |
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|net_income_year = 2020 |
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'''MMG Limited''' |
'''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> |
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==History== |
==History== |
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MMG was formed in June 2009, following the purchase of the majority of assets of [[Oz Minerals]] by [[China Minmetals]].<ref>[http://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> |
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In December 2010 MMG was acquired by Minmetals Resources |
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> |
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In September 2012 Minmetals Resources Limited changed its registered |
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/> |
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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> |
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In 2016, MMG was ranked as the third-highest of 92 oil, gas, and mining companies in terms of their public commitment to the rights of indigenous people in the Arctic.<ref>{{Cite web|url=https://www.researchgate.net/publication/313474088|title=Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic|last=Overland|first=Indra|date=2016|website=ResearchGate|publisher=Arran|access-date=2 August 2018}}</ref> |
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In 2021, MMG was ranked no. 15 among 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle in the Arctic Environmental Responsibility Index (AERI).<ref>Overland, I., Bourmistrov, A., Dale, B., Irlbacher‐Fox, S., Juraev, J., Podgaiskii, E., Stammler, F., Tsani, S., Vakulchuk, R. and Wilson, E.C. 2021. The Arctic Environmental Responsibility Index: A method to rank heterogenous extractive industry companies for governance purposes. ''Business Strategy and the Environment''. 30, 1623–1643. https://onlinelibrary.wiley.com/doi/10.1002/bse.2698</ref> |
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==Operations== |
==Operations== |
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MMG operate and develop copper, zinc and other base metals projects across Australia, the Democratic Republic of the Congo and Peru.<ref>http://www.mmg.com/en/Our-Operations/Mining-operations.aspx</ref> |
MMG operate and develop copper, zinc and other base metals projects across Australia, the Democratic Republic of the Congo and Peru.<ref>[http://www.mmg.com/en/Our-Operations/Mining-operations.aspx Mining operations] MMG</ref> |
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===Current=== |
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*Dugald River mine in [[Cloncurry]], [[Queensland]]<ref>[http://www.mmg.com/en/Our-Operations/Mining-operations/Dugald-River.aspx Dugald River] MMG</ref> |
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*[[Kinsevere]] mine in the [[Democratic Republic of Congo]]<ref>[https://www.mmg.com/our-business/kinsevere/ Kinsevere] MMG</ref> |
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*[[Las Bambas copper mine]] in [[Peru]] (62.5%)<ref>[https://www.mmg.com/our-business/las-bambas/ Las Bambas] MMG</ref> |
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*[[Rosebery, Tasmania|Rosebery]] mine in [[Tasmania]]<ref>[https://www.mmg.com/our-business/rosebery/#Rosebery_Blurb Rosebery] MMG</ref> |
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===Former=== |
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MMG owns and operates the [[Las Bambas copper mine]] in [[Peru]], the [[Kinsevere]] mine in the [[Democratic Republic of Congo]], and in [[Australia]] the Dugald River mine at [[Cloncurry]], [[Queensland]]<ref>http://www.mmg.com/en/Our-Operations/Mining-operations/Dugald-River.aspx</ref> and the [[Rosebery, Tasmania|Rosebery]] mine in [[Tasmania]].<ref>http://www.mmg.com/en/Our-Operations/Mining-operations.aspx</ref> |
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*[[Century Mine]]<ref>[https://www.mmg.com/media-release/170228-new-life-for-century-d98/ New life for Century] MMG</ref> |
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*[[Golden Grove Mine]]<ref>[http://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> |
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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 [[Apurímac Region]] of [[Peru]] – a joint venture 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%). A conflict in 2015 between police and local people protesting against the project resulted in at least three deaths and 17 injuries.<ref>{{Cite web|title = Peru anti-mining protest sees deadly clashes – BBC News|url = https://www.bbc.com/news/world-latin-america-34389803|accessdate = 2015-09-30}}</ref> |
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*[[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> |
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MMG also owns the Izok Corridor base metals project in [[Nunavut]], north-west [[Canada]]. |
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==References== |
==References== |
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[[Category:Companies |
[[Category:Companies based in Melbourne]] |
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[[Category:Companies formerly listed on the Australian Securities Exchange]] |
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[[Category:Companies listed on the Hong Kong Stock Exchange]] |
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[[Category:Dual-listed companies]] |
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[[Category:Copper mining companies of Australia]] |
[[Category:Copper mining companies of Australia]] |
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[[Category:Gold mining companies of Australia]] |
[[Category:Gold mining companies of Australia]] |
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[[Category:Government-owned companies of China]] |
[[Category:Government-owned companies of China]] |
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[[Category: |
[[Category:Lead mining companies]] |
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[[Category:Metal companies of China]] |
[[Category:Metal companies of China]] |
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Revision as of 05:36, 9 September 2021
Company type | Public |
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SEHK: 1208 | |
Industry | Mining |
Founded | 17 June 2009 |
Headquarters | Melbourne, Australia |
Key people | Guo Wenqing (Chairman) Geoffrey Gao (CEO) |
Products | Copper, gold, lead, silver, zinc |
Revenue | US$ 3.0 billion (2020) |
US$ 1.4 billion (2020) | |
US$ 6 million (2020) | |
Website | www.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
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]
Operations
MMG operate and develop copper, zinc and other base metals projects across Australia, the Democratic Republic of the Congo and Peru.[7]
Current
- Dugald River mine in Cloncurry, Queensland[8]
- Kinsevere mine in the Democratic Republic of Congo[9]
- Las Bambas copper mine in Peru (62.5%)[10]
- Rosebery mine in Tasmania[11]
Former
References
- ^ a b c Our Major Shareholder MMG
- ^ Our History Oz Minerals
- ^ Minmetals launches new company amid flat demand ABC News 18 June 2009
- ^ Minmetals Resources Limited successfully acquires MMG MMG 31 December 2010
- ^ MMG commences trading on the ASX MMG 14 December 2015
- ^ Voluntary Delisting from ASX Australian Securities Exchange 1 November 2019
- ^ Mining operations MMG
- ^ Dugald River MMG
- ^ Kinsevere MMG
- ^ Las Bambas MMG
- ^ Rosebery MMG
- ^ New life for Century MMG
- ^ EMR Capital completes $US210m Golden Grove acquisition Australian Mining 1 March 2017
- ^ MMG completes sale of Sepon mine MMG 30 November 2018
- Companies based in Melbourne
- Companies formerly listed on the Australian Securities Exchange
- Companies listed on the Hong Kong Stock Exchange
- Dual-listed companies
- Copper mining companies of Australia
- Gold mining companies of Australia
- Government-owned companies of China
- Lead mining companies
- Metal companies of China
- Silver mining companies
- Zinc mining companies