Minerals and Metals Group
|Founded||17 June 2009|
|Key people||Lixin Wang, Chairman
Andrew Michelmore, CEO
David Lamont, CFO
Marcelo Bastos, COO
Mike Nossal, EGM Business Development
Steve Ryan, EGM Exploration
Tim Scully, EGM Business Support
Xu Jiqing, EGM Strategic Planning
|Revenue||US$2,499.4 million (2012)|
|Net income||US$217.5 million (2012)|
MMG Limited (MMG), formerly known as Minerals and Metals Group, is a mid-tier global resources company that explores, develops and mines base metal deposits around the world. It is headquartered in Melbourne, Australia and listed on the Hong Kong Stock Exchange.
Minerals and Metals Group was formed in June 2009, following the purchase of the majority of assets of OZ Minerals Limited (OZ Minerals) by China Minmetals Corporation (CMC) through its subsidiary China Minmetals Nonferrous Metals Co. Ltd (CMN). Minerals and Metals Group became commonly referred to as MMG.
The portfolio of assets was sold for US$1.354 billion. The deal initially also included the Prominent Hill Mine; however, the sale was blocked by the Australian Government, citing national security concerns. Wayne Swan, Treasurer of Australia, stated that Prominent Hill could not be included in the sale as it was within a sensitive military area. The sale went ahead only after Prominent Hill was excluded from the deal; OZ Minerals retained Prominent Hill as its only major asset.
In December 2010 MMG was acquired by Minmetals Resources Limited, a subsidiary of China Minmetals Corporation and listed on the Stock Exchange of Hong Kong Limited (Stock Code: 1208).
In September 2012 Minmetals Resources Limited changed its registered English company name to MMG Limited to align the assets already operating as ‘MMG’ with the registered company name.
MMG owns and operates the Lane Xang Minerals Limited (LXML) Sepon mine in Laos, the Kinsevere mine in the Democratic Republic of Congo, and the Century, Golden Grove, and Rosebery mines in Australia. It also owns the Avebury nickel mine in Australia, which is under care and maintenance. Its development projects include Dugald River, a high-grade zinc-lead-silver deposit in north-west Queensland, Australia, and the Izok Corridor base metals project in Nunavut, north-west Canada. MMG also has significant exploration projects and partnerships in Australia, Africa, and the Americas. It is one of the world's largest producers of zinc and also produces significant amounts of copper, lead, gold and silver.
In 2012, MMG invested approximately $US18.5 million in host communities in a range of targeted social investment projects. These included education and training, community development, compensation, local business development, sponsorships, donations and capacity-building. In 2011, MMG and UNICEF partnered to deliver the The 1000 Day project, which raises funds and awareness and provides on-the-ground programs to target zinc and other micronutrient deficiencies in children worldwide.
- Minmetals Succeeds in OZ Minerals Deal Minmetals Australia Pty Ltd website, published: 6 November 2008, accessed: 11 January 2010
- Australia Blocks China’s Purchase of Mining Company The New York Times, published: 27 March 2009, accessed: 11 January 2010
- MMG Financial Report 2009 Minerals and Metals Group
-  The 1000 Day Project, published: 16 November 2012, accessed: 19 July 2013