[ad_1]
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
(Kitco News) – China Molybdenum, a globally diversified base, precious and rare metals producer, reported today that for the six months ended 30 June 2022 (H122), net profit attributable to the company’s shareholders was RMB4.15 billion (~$606 million), representing a year-on-year increase of 72%.
China Moly added that during the reporting period, the net profit of the company increased significantly due to the increase in the market prices of copper, cobalt and other metals, as well as an increase in production volumes.
According to the company’s statement, during the reporting period, its copper production increased by 24.4% to 136,650 tonnes year-on-year, cobalt production increased by 49.3% to 10,465 tonnes year-on-year and niobium production increased by 17.2% to 4,627 tonnes year-on-year.
The company also produced 7,774 tonnes of molybdenum, 4,187 tonnes of tungsten, 564,566 tonnes of phosphate fertilizers, and 8,381 ounces of gold (attributable).
China Moly specializes in mining and trading of base and rare metals, with its main business presence on five continents: Asia, Africa, South America, Oceania and Europe.
The company is the largest tungsten producer, the second largest cobalt and niobium producer, one of the top seven molybdenum producers and a leading copper producer.
It is also the second largest producer of phosphatic fertilizers in Brazil. In terms of trading business, the company is among the top three base metal merchants in the world.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
[ad_2]
Source link
