MMG profit jumps on improved operations, Khoemacau acquisition

MMG Limited (HKEX:1208) announced a net profit after tax increase to US$366.0 million for the year ended December 31, 2024, up from US$122.1 million in the prior year. Total EBITDA rose 40% to US$2,048.7 million. The company achieved a record-low gearing ratio of 41% by year-end. Copper production increased by 15% compared to 2023, with total production reaching 399,758 tonnes. Zinc production also rose by 8% to 219,901 tonnes. The Kinsevere Expansion Project achieved mechanical completion in September 2024.