MMG posts record H1 2026 earnings, slashes debt by 82%
Mining firm MMG reported record first-half earnings for 2026, driven by higher commodity prices and cost discipline, while reducing net debt by 82% through asset sales and debt restructuring.
MMG Ltd. reported record first-half earnings for 2026, citing a 82% reduction in net debt alongside strong operational performance. The mining company attributed the financial improvement to higher commodity prices and disciplined cost management, according to a presentation released on Friday.
The company’s net debt fell to $1.2 billion from $6.7 billion a year earlier, following asset sales and debt restructuring initiatives. Operating cash flow surged 150% year-over-year, supported by elevated prices for copper and zinc, key revenue drivers for MMG.
Revenue for the six months ended June 30 reached $3.8 billion, up 45% from the same period in 2025. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 130% to $1.6 billion, reflecting both volume growth and margin expansion.
MMG’s guidance for 2026 remains unchanged, with full-year production targets maintained at 400,000 tonnes of copper and 250,000 tonnes of zinc. The company also highlighted progress in its divestment program, which has accelerated debt reduction efforts.
Analysts noted the strong financial turnaround as a positive sign for the sector, particularly amid volatile commodity markets. MMG’s shares were up 4.2% in early trading, outperforming the broader mining index.
David reports on energy, metals and agricultural markets, tracking how supply signals and safe-haven demand move prices across the commodities complex.
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