MMG’s Dugald River mine produced 46,082 tonnes of zinc in zinc concentrate during the second quarter of 2026, representing a 6 per cent lift on the same period last year.

This increase was primarily driven by higher ore milled volumes and consistently strong zinc recovery, which remained above 90 per cent for the quarter, the company said.

MMG said it was continuing to see the benefits from the application of its digital twin platform, supporting consistency and process performance.

‘Following the weather-related disruptions and logistics constraints experienced in the first quarter, concentrate movements and shipments progressively normalised during the second quarter,’ the company reported.

‘As a result, zinc sales volumes exceeded production during the quarter, as concentrate inventories accumulated in the first quarter were reduced following the resumption of shipments.

‘Lead and silver production also increased by 53 per cent and 63 per cent year-on-year, respectively, supported by higher grades and improved recovery.’

The North-West Queensland mine site remains on track to achieve its 2026 zinc production guidance of 170,000 to 180,000 tonnes of zinc in zinc concentrate.

Dugald River C1 costs were $US0.60/lb in the first half of 2026, below the full-year guidance range of $US0.80–0.95/lb, primarily driven by stronger silver prices, higher lead and silver production and lower treatment charges.

MMG reported that the LME zinc price averaged $US3466 per tonne during the second quarter, 6.9 per cent higher than the previous quarter, driven by optimism surrounding a potential US-Iran ceasefire, which supported a broad-based rally across the metals market.

Zinc market fundamentals remained strong, with robust demand and constrained Western smelter output leading to a significant drawdown in LME inventories, the company said.