CMOC Group Limited

CMOC Group Limited

Company type	Public
Industry	Mining
Predecessor	Luoyang Luanchuan Molybdenum (state-owned enterprise)
Founded	1969
Headquarters	Luanchuan County, Luoyang City, Henan , China
Area served	Worldwide
Key people	Yuan Honglin (Chairman since June 2020)
Products	Molybdenum, tungsten, niobium, cobalt, copper, phosphate products, rare metals
Owner	Cathay Fortune Group (30.19%), CATL (24.68%), HKSCC Nominees Limited (part of 66.03% total top three shareholders), Luoyang Municipal People's Government (minority stake)

CMOC Group Limited (), previously known as China Molybdenum Company Limited, stands as a major Chinese mining enterprise and ranks among the top global producers of molybdenum, tungsten, niobium, and cobalt. It accounts for approximately one-third of worldwide cobalt supply.

Based in Luanchuan County near Luoyang City in Henan, CMOC is publicly traded on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange. Minority shareholdings are held by state-owned organizations. In 2024, the company reported revenues totaling CNY 213.03 billion, with operating profits of CNY 32.39 billion and net earnings of CNY 13.53 billion.

Key investors include Cathay Fortune with a 30.19% share and CATL holding 24.68%. CMOC’s strategic operations encompass global markets, producing a broad range of metals such as copper, phosphate products, and critical rare metals, reinforcing its status as a prominent mining sector leader.

History

The origins of the company trace back to 1969 when it was established as a wholly state-owned enterprise under Luoyang Luanchuan Molybdenum, with the Sandaozhuang mine commencing operations in 1970. By the early 2000s, the company began exploring extraction of Scheelite from its molybdenum deposits and entered into a joint venture named Luoyang Yulu Mining Co. Ltd. alongside Ximen Tungsten Co Ltd to process these ores.

In 2006, preparations for an initial public offering were initiated, followed by a rebranding to China Molybdenum in 2007. The firm became listed on the Hong Kong Stock Exchange. In 2010, CMOC secured a 55% ownership in the Shangfanggou mine through acquisitions of stakes in Xuzhou Huanyu Molybdenum Co., Ltd and Luanchuan Huqi Mining Company Limited. Subsequently, the Hong Kong Stock Exchange penalized CMOC for delays in disclosing the Huqi acquisition.

The company made its debut on the Shanghai Stock Exchange in 2012, raising 600 million yuan—less than initially targeted due to regulatory adjustments—but its share price rapidly increased threefold. In 2013, CMOC purchased an 80% interest in Australia’s Northparkes copper-gold mine from Rio Tinto before selling it entirely to Evolution Mining in December 2023.

CMOC International, a wholly owned subsidiary, moved its headquarters to Phoenix, Arizona in 2017. That year also saw CMOC’s involvement in acquiring Louis Dreyfus Company’s metals trading division, LDC Metals, which was subsequently renamed IXM. By 2019, CMOC had obtained full control over IXM.

In June 2022, China Molybdenum Company Limited officially adopted the name CMOC Group Limited and later that year secured the 74th position on the Fortune China 500 ranking.

Management and ownership

Yuan Honglin (袁宏林) has served as chairman since June 2020, succeeding Li Chaochun (李朝春), who held the role from 2014 until 2020. The top three shareholders—Cathay Fortune Group, battery manufacturer CATL, and HKSCC Nominees Limited—collectively own 66.03% of CMOC. Additionally, the Luoyang Municipal People's Government maintains an equity stake.

Brazil

In 2016, CMOC expanded its portfolio by purchasing phosphate and niobium mining operations located in the Brazilian states of Goiás and São Paulo from Anglo American plc, which included the Boa Vista mine.

China

CMOC operates three significant mining sites within China: the Sandaozhuang mine, which yields molybdenum and tungsten and is situated in Luanchuan County; the Donggebi molybdenum mine in Hami; and the Shangfanggou mine, producing molybdenum and iron, positioned near Sandaozhuang. CMOC holds full ownership of the Sandaozhuang mine, whereas Shangfanggou functions as a joint venture with Luoyang Mining Group owning a 45% share.

Democratic Republic of Congo

Within the Democratic Republic of Congo, CMOC possesses an 80% ownership interest in the Tenke Fungurume Mine, acquired from Freeport-McMoRan in 2016 for $2.65 billion. This acquisition was primarily financed through loans amounting to at least $1.59 billion from Chinese state-supported banks. The transaction was facilitated by BHR Partners, which purchased Lundin Mining's minority interest for $1.14 billion. The Tenke Fungurume Mine produces copper and cobalt, both essential components in lithium-ion battery manufacturing. In 2022, a conflict emerged between CMOC and the DRC government concerning royalty payments due to minority stakeholder state-owned Gécamines. This dispute was resolved in April 2023, enabling the resumption of mineral exports.

Via its subsidiary KFM Holding Limited, CMOC acquired a 95% stake in the Kisanfu mine from Freeport-McMoRan in 2020 for $550 million; this mine also produces copper and cobalt. In 2021, CMOC divested 25% of KFM Holdings to Contemporary Amperex Technology for $137.5 million, maintaining a controlling interest of 71.25%. By July 2022, CMOC announced intentions to invest $1.8 billion to further develop the Kisanfu project.

Ecuador

In June 2025, CMOC secured complete ownership of the Cangrejos Gold Project located in El Oro Province, Ecuador, signifying a strategic move into gold mining operations.

IXM

CMOC completed the acquisition of IXM in 2019, a leading global metals trading company ranked third worldwide. IXM's trading portfolio includes copper, zinc, aluminium, nickel, cobalt, niobium, and lithium. The company is headquartered in Geneva, Switzerland.

See also

• Jinduicheng Molybdenum
• Tongling Nonferrous Metals