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Kinsevere · Copper: copper cathode production 2025 and guidance

As of 2026-10-25 · Observation periods are shown separately.

Kinsevere is a copper operation in DR Congo operated by MMG. In 2025 (2025-01-01 – 2025-12-31) it produced 52,791 t of copper cathode on a 100% project basis, as disclosed by MMG. The tables below keep each disclosure's own period and source; a later actual does not establish whether the original expectation was met. 2026-01-01 – 2026-12-31 · FY · full year

Compare the disclosures

Match the period, product, production boundary and ownership basis before subtracting. These examples retain the dates of the original disclosures.

Calculation checked on 2026-10-25 · Maintenance: MetalsGoWhere; update when the underlying disclosure changes.

How far did the 2025 guidance range move?

Guidance midpoint lowered 20.45%

Reference guidance
63–69 kt
Revised guidance
51–54 kt
2025 · Copper cathode · 100% project basis
Lower bound change
-12,000 t (-19.05%)
Upper bound change
-15,000 t (-21.74%)
Midpoint change
-13,500 t (-20.45%)
Check values, sources and calculation

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ReferenceValue / disclosure dateObservation period / basisOriginal source / location
Reference disclosure63,000–69,000 t2025-01-232025-01-01 / 2025-12-31Copper cathode · 100% project basis
Compared disclosure51,000–54,000 t2025-10-212025-01-01 / 2025-12-31Copper cathode · 100% project basis

Recompute in tonnes. A midpoint is an arithmetic reference, not an issuer point forecast. Percentage changes use the corresponding reference value; a zero denominator has no percentage.

Lower bound change=51000 - 63000

Percentage = difference / reference × 100=(51000 - 63000) / 63000 * 100

Upper bound change=54000 - 69000

Percentage = difference / reference × 100=(54000 - 69000) / 69000 * 100

Midpoint change=(51000 + 54000) / 2 - (63000 + 69000) / 2

Percentage = difference / reference × 100=((51000 + 54000) / 2 - (63000 + 69000) / 2) / 66000 * 100

The second-quarter 2026 report calls guidance cathode production in its narrative, while the output-table footnote includes cathode, scrap and tolling. Preserve this disclosure difference: do not infer a matched product boundary or calculate a guidance fulfilment ratio from the mixed half-year total. Figures are project output, not equity-attributable output.

Did the July caution change the numbers?

Guidance range unchanged

Reference guidance
63–69 kt
Revised guidance
63–69 kt
2025 · Copper cathode · 100% project basis
Lower bound change
+0 t (+0.00%)
Upper bound change
+0 t (+0.00%)
Midpoint change
+0 t (+0.00%)
Check values, sources and calculation

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ReferenceValue / disclosure dateObservation period / basisOriginal source / location
Reference disclosure63,000–69,000 t2025-01-232025-01-01 / 2025-12-31Copper cathode · 100% project basis
Compared disclosure63,000–69,000 t2025-07-222025-01-01 / 2025-12-31Copper cathode · 100% project basis

Recompute in tonnes. A midpoint is an arithmetic reference, not an issuer point forecast. Percentage changes use the corresponding reference value; a zero denominator has no percentage.

Lower bound change=63000 - 63000

Percentage = difference / reference × 100=(63000 - 63000) / 63000 * 100

Upper bound change=69000 - 69000

Percentage = difference / reference × 100=(69000 - 69000) / 69000 * 100

Midpoint change=(63000 + 69000) / 2 - (63000 + 69000) / 2

Percentage = difference / reference × 100=((63000 + 69000) / 2 - (63000 + 69000) / 2) / 66000 * 100

The second-quarter 2026 report calls guidance cathode production in its narrative, while the output-table footnote includes cathode, scrap and tolling. Preserve this disclosure difference: do not infer a matched product boundary or calculate a guidance fulfilment ratio from the mixed half-year total. Figures are project output, not equity-attributable output.

Where did the full-year actual land against revised guidance?

Actual output within guidance

Reference guidance
51–54 kt
Reported actual
52.791 kt
2025 · Copper cathode · 100% project basis
Actual minus lower bound
+1,791 t (+3.51%)
Actual minus upper bound
-1,209 t (-2.24%)
Check values, sources and calculation

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ReferenceValue / disclosure dateObservation period / basisOriginal source / location
Reference disclosure51,000–54,000 t2025-10-212025-01-01 / 2025-12-31Copper cathode · 100% project basis
Compared disclosure52,791 t2026-01-222025-01-01 / 2025-12-31Copper cathode · 100% project basis

Recompute in tonnes. A midpoint is an arithmetic reference, not an issuer point forecast. Percentage changes use the corresponding reference value; a zero denominator has no percentage.

Actual minus lower bound=52791 - 51000

Percentage = difference / reference × 100=(52791 - 51000) / 51000 * 100

Actual minus upper bound=52791 - 54000

Percentage = difference / reference × 100=(52791 - 54000) / 54000 * 100

The second-quarter 2026 report calls guidance cathode production in its narrative, while the output-table footnote includes cathode, scrap and tolling. Preserve this disclosure difference: do not infer a matched product boundary or calculate a guidance fulfilment ratio from the mixed half-year total. Figures are project output, not equity-attributable output.

Can mixed half-year output measure annual cathode guidance?

No direct calculation

The product or production boundary differs; no conversion factor is assumed. The observation periods do not match this calculation.

Check values, sources and calculation

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ReferenceValue / disclosure dateObservation period / basisOriginal source / location
Reference disclosure65,000–75,000 t2026-07-212026-01-01 / 2026-12-31Copper production guidance (product form not specified) · 100% project basis
Compared disclosure33,800 t2026-07-212026-01-01 / 2026-06-30Copper in cathode, scrap and tolling output · 100% project basis

The second-quarter 2026 report calls guidance cathode production in its narrative, while the output-table footnote includes cathode, scrap and tolling. Preserve this disclosure difference: do not infer a matched product boundary or calculate a guidance fulfilment ratio from the mixed half-year total. Figures are project output, not equity-attributable output.

Compare all five project examples

Cite this page with its project, observation period and calculation checked date. Historical examples do not establish today’s operating status or losses caused by an event.

Questions this evidence can answer

Checked: 2026-10-08 · Added: 2026-10-08

Did Kinsevere meet its 2025 guidance, and is 2026 comparable?

Full-year copper cathode output missed the original range but fell within the October revised range. The July lower-end caution retained the original numerical range. The initial 2026 guidance includes planned concentrate sales, so it is not a cathode-only target.

The second-quarter 2026 report calls guidance cathode production in its narrative, while the output-table footnote includes cathode, scrap and tolling. Preserve this disclosure difference: do not infer a matched product boundary or calculate a guidance fulfilment ratio from the mixed half-year total. Figures are project output, not equity-attributable output.

Swipe horizontally to see the full table.

DisclosurePeriodRecordValue (t)Product basisEvidence
2025-01-232025-01-01 – 2025-12-31 · FY · full yearGuidance · Initial63,000–69,000Copper cathode
2025-07-222025-01-01 – 2025-12-31 · FY · full yearGuidance · Maintained63,000–69,000Copper cathode
2025-10-212025-01-01 – 2025-12-31 · FY · full yearGuidance · Revised51,000–54,000Copper cathode
2026-01-222025-01-01 – 2025-12-31 · FY · full yearReported actual52,791Copper cathode
2026-01-222026-01-01 – 2026-12-31 · FY · full yearGuidance · Initial65,000–75,000Copper cathode plus planned copper in concentrate
2026-04-212026-01-01 – 2026-12-31 · FY · full yearGuidance · Maintained65,000–75,000Copper cathode plus planned copper in concentrate
2026-04-212026-01-01 – 2026-03-31 · Q1 · single quarterReported actual16,820Copper cathode
2026-07-212026-01-01 – 2026-12-31 · FY · full yearGuidance · Maintained65,000–75,000Copper production guidance (product form not specified)
2026-07-212026-04-01 – 2026-06-30 · Q2 · single quarterReported actual16,980Copper in cathode, scrap and tolling output
2026-07-212026-01-01 – 2026-06-30 · H1 · cumulativeReported actual33,800Copper in cathode, scrap and tolling output

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Disclosure and revision history

Earlier disclosures were compiled after the fact, not tracked in real time.

How we check disclosures

Latest guidance status

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PeriodDisclosure dateStatusGuidance rangeBasisSource
2026-01-01 – 2026-12-31 · FY · full year2026-04-21Maintained65,000–75,000 tCopper cathode plus planned copper in concentrate
2026-01-01 – 2026-12-31 · FY · full year2026-07-21Maintained65,000–75,000 tCopper production guidance (product form not specified)
2026-01-01 – 2026-12-31 · FY · full year2026-10-14Maintained65,000–75,000 tCopper cathode

Actual production

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PeriodValueBasisSource
2025-01-01 – 2025-12-31 · FY · full year52,791 tCopper cathode
2026-01-01 – 2026-03-31 · Q1 · single quarter16,820 tCopper cathode
2026-01-01 – 2026-06-30 · H1 · cumulative33,800 tCopper in cathode, scrap and tolling output
2026-01-01 – 2026-09-30 · 9M · cumulative53,235 tCopper in cathode, scrap and tolling output
2026-07-01 – 2026-09-30 · Q3 · single quarter19,435 tCopper in cathode, scrap and tolling output

Basis notes

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Source: metalsgowhere.com, as of 2026-10-25. Citation & data use