MMG profit more than triples on copper rally, strong mine output

MMG Ltd. said profit more than tripled last year, buoyed by higher commodity prices and strong output at key mines, though still fell short of analyst estimates.

The Chinese-owned mining company’s net income for 2025 reached $509 million, according to a filing, missing the $701 million consensus. It was the strongest annual profit since 2021.

Copper prices strengthened in 2025, driven by robust demand for energy transition applications and accelerating development of artificial intelligence-related data centers, according to chairman Cao Liang.

“At the same time, precious metals continue to attract investment during periods of global uncertainty,” he said.

The firm saw growth at the Las Bambas mine in Peru and Dugald River in Australia. Still, earnings were hurt by an impairment charge in its Kinsevere mine in the Democratic Republic of the Congo.

(By Rachel Yeo)