MMG Seeks to Reassure Investors Amid Peru ‘Illegal' Copper Boom
Chinese-owned metals producer MMG Ltd. attempted to reassure investors about its prospects in Peru, saying a surge in 'illegal' mining activity in the country isn't affecting its copper production or development plans.
The company — a unit of state-owned China Minmetals Corp. — shared concerns with the Peruvian government about a 'significant increase in illegal mining activity,' MMG said in a March 31 post on its website. The firm's shares in Hong Kong fell as much as 6.1% on Monday, more than most peers.
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