MMG Limited reported production results for the fourth quarter and full year ended December 2016. For the quarter, the company's sepon produced 22,527 tonnes of copper cathode during the December quarter which represents a 12% increase on the previous quarter. The result is the strongest quarterly production in 2016 despite the operation's ongoing transition to lower grade, more complex ores. Production at Rosebery was 7% higher in the fourth quarter when compared to the September quarter due to higher feed grades and improved recoveries. Golden Grove also delivered strong production in the December quarter with zinc 134% higher and copper 116% higher when compared to the previous quarter. The improvement is attributable to increased mining rates for zinc and increased copper feed grades.

MMG operations produced 503,510 tonnes of copper in 2016, exceeding the guidance range of 415,000-477,000 tonnes. The Company produced 119,575 tonnes of zinc, slightly below its guidance range of 120,000-135,000 as the production profile shifted from zinc to copper in 2016. In addition to the strong result at Las Bambas, MMG's Kinsevere operation delivered a record year on safety, volume and cost measures.

MMG expects to produce 560,000-615,000 tonnes of copper and 65,000-72,000 tonnes of zinc in 2017. The guidance range excludes the Golden Grove operation following the announcement on 30 December 2016 that MMG has entered into a conditional sale agreement of Golden Grove to EMR Capital.