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mmg ltd (1208) Details

MMG Limited, an investment holding company, is engaged in the exploration for, and mining, processing, and producing zinc, copper, lead, gold, and silver deposits. The company owns and operates Sepon, an open-pit copper and gold mine located in Southern Laos; Kinsevere open-pit copper mine in the Katanga province of the Democratic Republic of Congo, Africa; Century open-pit zinc mine located in Queensland; Rosebery underground polymetallic base metal mine located in Tasmania; and Golden Grove underground and open-pit base and precious metals mine located in Western Australia’s mid-west. It also has exploration projects in Australia, Africa, and the Americas. The company was formerly known as Minmetals Resources Limited and changed its name to MMG Limited in September 2012. MMG Limited was incorporated in 1988 and is based in Kowloon, Hong Kong, and is considered a Red Chip company due to its listing on the Hong Kong Stock Exchange. MMG Limited is a subsidiary of China Minmetals Non-ferrous Metals Company Limited.

4,429 Employees
Last Reported Date: 08/20/14
Founded in 1988

mmg ltd (1208) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: $1.3M
Chief Financial Officer, Executive Director a...
Total Annual Compensation: $1.1M
Executive General Manager of Strategic Planni...
Total Annual Compensation: $697.0K
Compensation as of Fiscal Year 2013.

mmg ltd (1208) Key Developments

MMG Mulls Acquisitions

MMG Limited (SEHK:1208) is looking for acquisitions. MMG is keeping an eye out for possible acquisition opportunities in order to fuel growth.

MMG Limited Appoints Jiao Jian as Chairman

MMG Limited announced the appointment of Mr. Jiao Jian as Chairman of the Company, effective immediately. MMG's former Chairman Mr. Wang Lixin has elected to resign as Chairman of MMG due to the relocation of his family and business interests. Mr. Wang will remain a Non-executive Director and a member of the Remuneration and Nomination Committee of MMG. Mr. Jiao accepted the position of Chairman of MMG following Mr. Wang's resignation. Mr. Jiao's appointment is effective from 20 August 2014.

MMG Limited Reports Earnings and Production Results for the Six Months Ended June 30, 2014

MMG Limited reported earnings and production results for the six months ended June 30, 2014. Revenue of $1,193.7 million increased 1% compared to 30 June 2013 with the average LME price of zinc and copper 6% higher and 8% lower respectively. EBITDA increased 21% to $364.7 million with an improved EBITDA margin of 31% compared with 26% in the first half 2013. Net operating cash flow of $200.5 million and delivered a 33% increase in total profit of $47.7 million. Basic and diluted earnings per share was 0.74 cents against 0.47 cents a year ago. Earnings before interest and income tax was $116.5 million against $93.0 million a year ago. Profit was $47.7 million against $35.9 million a year ago. The company produced 92,512 tonnes of copper in the first half 2014, with Kinsevere year-to-date production 13% higher than the same period last year due to consistent throughput and increased copper feed grades. Kinsevere continues to deliver excellent results achieving half year records in processing, production and sales. First half zinc production of 270,202 tonnes was 4% lower mainly due to lower production from Century. Century production was affected by access to Stage 8 of the mine due to wall instability and by lower grades as it approaches the final stages of the mine plan. Annual production and cost guidance has been reviewed and MMG now expects to produce 177,000–190,000 tonnes of copper and 580,000–605,000 tonnes of zinc in 2014.

 

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1208

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Valuation 1208 Industry Range
Price/Earnings 16.2x
Price/Sales 0.8x
Price/Book 1.2x
Price/Cash Flow 3.1x
TEV/Sales NM Not Meaningful
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