(CMOC)-CMOC today announced its results for the first half of 2025, reporting revenue of USD 13.21 billion and net profit attributable to shareholders of USD 1.21 billion, up 60.07% year-on-year and the highest first-half earnings in the company’s history. Operating cash flow reached USD 1.67 billion, while the debt-to-asset ratio declined to 50.15%, reflecting stronger cash generation and a more resilient balance sheet.

Strong Operational Performance Anchored by Copper

Mining revenue rose to USD 5.49 billion, accounting for 42% of total revenue and setting a new record. Copper remained the primary growth driver, supported by world-class operations at TFM and KFM in the Democratic Republic of Congo. Copper production reached 353,570 tonnes, with copper revenue totaling USD 3.59 billion, representing 65% of mining sales and also marking a record high.

Cobalt also delivered solid performance, with production of 61,073 tonnes. Other commodities performed above guidance:

• Molybdenum: 6,989 tonnes
• Tungsten: 3,948 tonnes
• Niobium: 5,231 tonnes, a multi-year high
• Phosphate Fertilizer: 582,621 tonnes

The company’s trading arm, IXM, continued to optimize portfolio quality and volume, delivering record operating efficiency.

Cost Discipline and Efficiency Gains

Operating costs fell 10.96% year-on-year, reflecting CMOC’s continued focus on efficiency.

• In Africa, processing improvements and digital innovation enhanced productivity.
• In China, reagent optimization improved recovery rates for molybdenum and tungsten while lowering costs.
• In Brazil, reduced procurement and logistics expenses supported performance, with recovery rates at the BVFR and BV plants reaching historic highs.

Strategic Expansion and Sustainable Growth

CMOC strengthened its organizational foundation, fostering a globally minded and professional leadership team, while embedding stronger governance and cost discipline across its operations.

The company advanced its growth strategy with the acquisition of Odin Mining (Cangrejos Gold Project) in Ecuador — one of the world’s largest undeveloped gold assets — which is now being fast-tracked toward production before 2029.

In the Democratic Republic of Congo, expansion projects are progressing with the goal of reaching 800,000–1,000,000 tonnes of annual copper capacity. Construction of the 200 MW Heshima Hydropower project is also moving forward, providing long-term, reliable and sustainable power to support growth in the region.

CMOC also maintained its MSCI ESG rating at ‘AA,’ advancing from the top 13% to the top 11% globally in the non-ferrous metals industry. This recognition reflects the company’s ongoing commitment to sustainable development, responsible operations, and delivering long-term value to all stakeholders.

About CMOC Group Limited

Founded in 1969, CMOC Group Limited is a privately held global leader in the mining and metals industry, listed on the Hong Kong Stock Exchange in 2007 and the Shanghai Stock Exchange in 2012. With operations spanning Asia, Africa, South America, and Europe, the company is one of the world’s largest producers of copper, cobalt, molybdenum, tungsten, niobium. It is also a leading phosphate fertilizer producer in Brazil and the holder of Ecuador’s largest primary gold deposit.

In 2024, CMOC achieved $29.85 billion in revenue and ranked 19th among the top 50 global mining companies by market capitalization. CMOC is committed to upholding high Environmental, Social, and Governance (ESG) standards. The company maintains an AA rating on the MSCI ESG scale and was included in the FTSE Russell Social Responsibility Index in 2024.

CMOC continues to invest in sustainable practices and community development, contributing over USD 40 million globally to social and community initiatives in 2024. With a focus on innovation, strong governance, and expanding its global footprint, CMOC is dedicated to strengthening its leadership and solidifying its position as a world-class resource company.