June 18 marks the historic launch of MMG (Minerals and Metals Group), which has been formed following the completion of the acquisition earlier this month by China Minmetals Non-ferrous of key OZ Minerals’ assets. Speaking at the launch of MMG and the unveiling of its new logo, the President of China Minmetals, Zhou Zhongshu, expressed his company’s excitement at having the opportunity to be part of the formation of a worldclass resources group.

“The organisation we launch here today has strength and a clear direction in its aim to develop worldclass mineral and metal projects. My hope is that it will come to be recognised as a familiar and respected participant in the Australian and international mining and exploration community and symbolise the long-term partnership over many years between our company and Australia and between our respective countries.”

Mr Zhou reinforced the strong links between Australia and China and the mutually beneficial outcomes he hoped would flow from the joint exploration and development of resources. “The purchase of these assets is the largest single transaction that Minmetals have ever undertaken and, in acquiring 100% of these assets, it is also the largest such purchase in Australia by a Chinese company.

“We will honour all our existing commitments but, importantly, we hope to deliver new opportunities for the Australian resources industry, expand our workforce domestically, continue to support local communities and grow local economies as global conditions improve,” he said.

Andrew Michelmore, MMG’s Chief Executive Officer, said that he was looking forward to the challenge of delivering on the high expectations that China Minmetals, the Australian Government and local communities had for MMG. “With established mining assets in Australia and Laos, and exciting exploration and development opportunities domestically and around the world, I am confident MMG is well positioned to deliver on these expectations. We have the fundamentals here – the people, the resources, the drive and the commitment – to create a great business.”

MMG operates a portfolio of world-class base metal mining operations, development projects and exploration fields. The group is the world’s second largest producer of zinc as well as a substantial producer of copper, lead, gold and silver. The group currently has mining operations located in Australia and Asia and a large portfolio of advanced and early stage exploration projects through Australia, Asia and North America. MMG’s operations include:

• The Century mine in Queensland which is the world’s second largest open-pit zinc mine – producing some 500,000 t/y of zinc
• The Sepon copper operation in Laos which produces approximately 65,000 t/y of copper. The gold operation at Sepon is also in its seventh year of production
• The Golden Grove underground base and precious metals mine in Western Australia that produces concentrates of zinc, copper and other base and precious metals
• The Rosebery mine in Tasmania, a polymetallic underground mine, in operation since 1936, which has current potential to extend life beyond 2030
• The Avebury nickel mine in Tasmania, currently on care and maintenance
• An extensive portfolio of exploration projects and joint ventures across Australia, Asia and North America.