MMG announces Dugald River zinc concentrate sale agreement

MMG Limited has announced that on April 10, 2025, its subsidiary MMG Dugald River Pty Ltd entered into a Dugald River Zinc Concentrate Sale Agreement with Minmetals North-Europe, a wholly-owned subsidiary of CMC, the ultimate controlling shareholder of MMG. This agreement constitutes a connected transaction under the Hong Kong Listing Rules. The sale involves approximately 10,000 dry metric tonnes of zinc concentrate (+/- 10% at Seller's option) with an estimated value of US$13 million. The pricing is determined through a competitive tender process and arm’s length negotiations. The transaction is subject to reporting and annual review requirements under the Listing Rules, but exempt from independent shareholder approval. The interested Directors, Xu Jiqing, Zhang Shuqiang and Cao Liang have abstained from the board resolution to avoid any possible conflict of interest issue.