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Australia-based MMG reported that its copper production fell 24% in the first quarter compared to the same period 2019 amid community blockades at its Las Bambas mine in Peru. In the first quarter MMG, which is controlled by China Minmetals Corp, produced 91,911 tonnes copper and 52,957 tonnes zinc as operations at Las Bambas were also interrupted by maintenance work and the state of emergency in Peru declared on March 15 to stop the advance of COVID-19. CEO Geoffrey Gao said "The first quarter was very challenging for the entire business but particularly for our largest operation, Las Bambas. As a result, force majeure has been declared on Las Bambas copper and molybdenum concentrate sales agreements.”
He added “With ongoing uncertainty and fluctuations in operating activity due to restrictions imposed in response to COVID-19, we decided to withdraw guidance for 2020.”
Las Bambas is the world’s ninth-largest copper mine, with an output of between 350,000 and 370,000 tonnes of copper concentrate previously expected for 2020, or about 2% of the world’s projected production.