MMG's new copper means a proper metamorphosis

The acquisition of Glencore Xstrata’s Las Bambas copper mine is a transformational deal -- for MMG, for the seller and for China’s commodities dreams.

For nearly five years Andrew Michelmore has demonstrated discipline and patience but the $US6.25 billion acquisition of Glencore Xstrata’s Las Bambas copper mine at the weekend will make the former WMC Resource chief executive’s MMG group a serious player in the base metals sector.

MMG was, of course, formed from the bulk of Oz Minerals assets that were acquired by China’s state-owned Minmetals group in 2009 when Oz Minerals was in the hands of its bankers.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed…

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles