MMG inks sales agreement with Minmetals North-Europe for Rosebery concentrate

MMG Limited announced on December 16, 2025, a Rosebery Concentrate Sales Agreement with Minmetals North-Europe for product sales during 2026 and 2027. Minmetals North-Europe, a wholly-owned subsidiary of MMG's ultimate controlling shareholder CMC, makes this a continuing connected transaction. The agreement covers 100% of Rosebery's production for 2026 and 2027, estimated at 6,000 dry metric tonnes of product annually.

The pricing, determined through arms' length negotiations, is considered superior to offers from independent third parties. It includes payments for copper, gold, and silver based on London Metal Exchange and London Bullion Market Association prices, less agreed treatment, refining charges, and penalties. Shipments will be arranged by MMG Australia Limited on a CIP (Incoterms 2020®) basis.

The proposed annual cap for this transaction is US$150 million. This transaction falls under Listing Rule 14A.76, requiring reporting, annual review, and announcement, but is exempt from independent shareholders' approval due to percentage ratios being between 0.1% and 5%. The board, excluding interested directors, views the terms as fair and reasonable.