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五矿资源(01208.HK)截至6月30日铜矿产资源量增加17%

mmg (01208.HK) copper ore resources increased by 17% as of June 30.

Gelonghui Finance ·  Dec 3 18:12

On December 3, GeLongHui announced that as of June 30, 2024, the main changes in the declared mineral resources and ore reserves include: the Group's mineral resources (including metals): copper increased by 17%, zinc increased by 14%, lead increased by 10%, molybdenum increased by 62%, cobalt increased by 10%, silver increased by 11%, gold increased by 5%, while non-metals decreased.

Group ore reserves (including metals): zinc increased by 10%, lead increased by 10%, and cobalt increased by 19%. Group ore reserves (including metals): copper decreased by 4%, silver decreased by 2%, gold decreased by 12%, and molybdenum decreased by 5%.

The above results indicate that since the report on mineral resources and ore reserves as of June 30, 2023, all incremental changes in the mineral resources of all metals in all mines have reached or exceeded the ore consumption of the concentrator. This is due to MMG's long-term commitment to exploration and extending the life of mine assets.

The greatest contribution to the above results is the new mineral resources at the Ferrobamba deep zone in Las Bambas mine, which added 2.5 million tons of copper, 130 thousand tons of molybdenum, 31 million ounces of silver, and 370 thousand ounces of gold to the mineral resources in 2024. The acquisition of Khoemacau mine increased the mineral resources announced in May 2024 by 5.7 million tons of copper and 230 million ounces of silver. With the updated assumptions of several ore bodies at the mine, the mineral resources further increased by 700 thousand tons of copper and 30 million ounces of silver.

The successful progress of exploration and drilling at Dugald River extended the depth of the Dugald vein, resulting in a net increase of 1.2 million tons of zinc in mineral resources. Rosebery continues exploration and optimization of economic evaluation methods within the mining area, leading to significant increases in both mineral resources and ore reserves. Rosebery's ore reserves increased by 47%, with ore reserve increases of zinc, lead, silver, gold, and copper all exceeding 30%. A key driver of the increase in Rosebery's ore reserves is the implementation of several plans to increase the tailings dam capacity, enhancing the certainty of extending the mine's operational life.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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