According to Zhitong Finance App, Minmetals Resources (01208) announced that in the second quarter of 2026, total copper production (including electrolytic copper and copper concentrate containing copper) was 137,843 tons, and total zinc (zinc concentrate containing zinc) production was 55,538 tons, all of which were basically the same as the same period in 2025.
Las Bambas copper concentrate copper-containing production was 109,192 tons, down 5% year over year. This quarter, the average ore grade was 0.86%, lower than the same period last year, mainly affected by the mining sequence. The recovery rate for metallurgical preparation remained strong at 89.8% this quarter.
Kinsevere's electrolytic copper production was 16,980 tons, up 24% year over year, mainly due to continued climbing at sulphide beneficiation facilities and increased mining activity at the Nambulwa satellite mine.
Khoemac au's copper concentrate copper-containing production was 11,423 tons, which is roughly the same as the same period last year. The increase in copper grade in zone 5 ore bodies offset the impact of the decline in mineral processing.
Dugald River's zinc concentrate production reached 46,082 tons, an increase of 6% year over year, mainly due to increased mineral processing volume and continued strong zinc recovery rate of 90% or more.
Rosebery's zinc equivalent production was 33,618 tons, roughly the same as the same period in 2025. Increased silver and gold production contributed to offsetting the impact of a 25% year-on-year decline in zinc production to 9,456 tons.
In the second quarter of 2026, total gold production was 28,119 ounces, down 9% year on year, and total silver production was 2,825,891 oz, up 13% year on year. Favourable precious metal prices and steady production brought significant by-product returns, which had a positive impact on C1 costs in the first half of 2026.
In the second quarter of 2026, the total frequency of recorded work-related accidents (TRIF) per million working hours was 2.19, up from 1.92 in the first quarter, mainly due to an increase in the number of recorded work-related accidents reported in the current quarter. The frequency of significant events with energy exchange (SEEEF) per million working hours was 0.82, up from 0.27 in the first quarter, reflecting an increase in the number of related incident reports.
All mines continue to strengthen safety performance, actively promote active reporting of major incidents without energy exchange, ensure the effective implementation of key control measures, and focus on strengthening contractor management and on-site operation inspection.
The production schedule of the five mines of Las Bambas, Kinsevere, Khoemac a U, Dugald River, and Rosebery is in line with the plan and is expected to meet the 2026 full-year production guidelines.
Based on the cost performance in the first half of the year and the current market environment, Minmetals Resources lowered Las Bambas, Khoemac a u and Rosebery's 2026 C1 cost guide: Las Bambas: from $1.20 per pound to $1.40 per pound, to $0.85 per pound to 1.05 US dollars/lb. Khoemac a u: From the previous $2.00/lb to $2.30/lb, downgraded to $1.70/lb to $2.00/lb. Rosebery: From the previous negative $0.60/lb to negative $0.10/lb, downgraded to negative $1.50/lb to negative $1.00/lb.