{"id":1180130,"date":"2020-04-23T09:07:56","date_gmt":"2020-04-23T14:07:56","guid":{"rendered":"https:\/\/www.mining.com\/?p=1021492"},"modified":"2020-04-23T09:07:56","modified_gmt":"2020-04-23T14:07:56","slug":"mmg-copper-output-sinks-on-peru-force-majeure","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1180130","title":{"rendered":"MMG copper output sinks on Peru force majeure"},"content":{"rendered":"<p>Australia-based&nbsp;MMG saw copper production <a href=\"https:\/\/www.mmg.com\/media-release\/first-quarter-production-result-for-the-period-ended-31-march-2020\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">decline 20% in the first three months of the year<\/a>, compared to the same period in 2019, after declaring force majeure at its Las Bambas mine in Peru amid coronavirus-related restrictions.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company, majority-owned by<br \/>\nstate-run China Minmetals Corp,&nbsp;said in early April that Las Bambas continued<br \/>\nto operate at reduced levels despite Peru extending a state of emergency to<br \/>\nslow the spread of covid-19.<\/p>\n<p>Production of copper concentrates at the mine fell 28% year-on-year to 73,319 tonnes. Shipments, MMG said, were also adversely impacted and are now suspended. It added that stocks at the Peruvian port of Matarani were exhausted.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>MMG still expects Las Bambas to produce around 2 million tonnes of copper over the 2021-2025 period.<\/p>\n<\/blockquote>\n<\/figure>\n<p>&#8220;As a result, force majeure<br \/>\nhas been declared on Las Bambas copper and molybdenum concentrate sales<br \/>\nagreements,&#8221; the company said, noting all cargoes shipped overseas during<br \/>\nthe quarter had been received without any major interruptions.<\/p>\n<p>MMG had already <a href=\"https:\/\/www.mining.com\/mmg-withdraws-las-bambas-copper-guidance-amid-covid-19-crisis\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">withdrawn its production guidance for the mine<\/a>, but did not provide a revised full-year figure. On Thursday, it said it still expected Las Bambas to produce around 2 million tonnes of copper over the five-year period from 2021 to 2025.<\/p>\n<p>The miner attributed the output decline to repairs on an overland ore conveyor and <a href=\"https:\/\/www.mining.com\/mmg-suspends-shipments-from-las-bambas-copper-mine-in-peru\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">local community blockades<\/a> that impacted logistics, but the greatest disruption since mid-March has been because of covid-19, it said.<\/p>\n<p>Company-wide copper production in<br \/>\nthe first quarter of the year totalled 91,911 tonnes, down from 114,369 tonnes in<br \/>\nthe same three months last year.<\/p>\n<p>\u201cThe first quarter was very challenging for the entire business, but particularly for our largest operation, Las Bambas,\u201d MMG chief executive officer, Geoffrey Gao, said <a href=\"https:\/\/www.mmg.com\/media-release\/first-quarter-production-result-for-the-period-ended-31-march-2020\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">in the statement<\/a>.<\/p>\n<p>\u201cWe are continuing to expend<br \/>\nconsiderable effort to ensure that we can return to normal operations at the<br \/>\nmine as quickly as possible and will update the market in due course,\u201d Gao<br \/>\nadded.<\/p>\n<p>Las Bambas is the world\u2019s<br \/>\nninth-largest copper mine, with an output of between 350,000 and 370,000 tonnes<br \/>\nof copper in concentrate previously expected for 2020, or about 2% of the world\u2019s<br \/>\nprojected production.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Production declined 20% in Q1 due mainly to disruptions at its Las Bambas mine in Peru.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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