SPX3,911.74+116.01 3.06%
DIA315.02+8.28 2.70%
IXIC11,607.62+375.43 3.34%

BUZZ-Chinese miner MMG rises as co's Las Bambas mine to resume production

reuters.com · 06/10/2022 01:51
BUZZ-Chinese miner MMG rises as co's Las Bambas mine to resume production

** Shares of MMG Ltd MMLTF jump 11.9% to HK$3.75 in resumed trade, their biggest intraday pct gain since March 16, as Peru communities allowed the Chinese miner to restart its Las Bambas mine operations after a 51-day shutdown

** Stock, which halted trade on Friday morning, hit the highest since April 20 after trading resumed; biggest pct gainer in Hang Seng material index .HSCIM

** A group of indigenous Peruvian communities on Thursday agreed to temporarily lift a protest against MMG's Las Bambas copper mine that forced the company to halt operations for more than 50 days, the longest in the mine's history nL1N2XW2OP

** MMG on Friday welcomed the communities' agreement and said it expects production at the site and concentrate transport to resume on June 11

** Hang Seng Commerce & Industry Index .HSNC gains 0.3%, while Hang Seng material index .HSCIM slips 0.7% and the benchmark Hang Seng Index .HSI eases 0.4%

** MMG stock up 34% this year, as of last close




(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))