Update: Visit to the Kinsevere copper operation
In this note we focus on the Kinsevere copper mine, in the Democratic Republic of the Congo (DRC), wholly owned by MMG. Driven by power and production-related initiatives, copper cathode production has vastly exceeded the 60ktpa nameplate with c 70kt and 80kt achieved in 2014 and 2015 respectively. Last reported C1 cost was US$1.48/lb. We also update our group forecasts following recent results.MMG is an investment holding company, engaged in the exploration for mineralization, development of mining projects and the mining, processing and production of copper, zinc, lead, gold and silver. Co.'s segments include: Sepon, an open-pit copper mining operation; Kinsevere, an open-pit copper mining operation; Century, an open-pit zinc mining operation; Rosebery, an underground polymetallic base metal mining operation; Golden Grove, an underground and open-pit base and precious metals mining operation; Las Bambas Project, a development project with prospective exploration options; and Other, which includes exploration and development projects and other corporate entities.
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