China Molybdenum's net profit sharply up by 63% YOY in H1 2017 on RMB835 million
2017-08-30 17:51:28 [Print]
On the evening of August 27th, China Molybdenum announced the semi-annual report for 2017. The report indicated that the company achieved operating revenue of RMB11.655 billion, up by 416% YOY; net profit attributable to the parent company's owner's was RMB835 million, up by 63% YOY.
In the respect of the major products, the company saw outputs of 8,161t and 5,649t for molybdenum and tungsten respectively in H1 2017; outputs of DRC copper and cobalt reached 109,186t and 7,364t; output of Brazilian niobium and phosphorus were 4,286t and 546,930t; outputs of Australian NPM copper and gold were 18,910t and 16,723 ounces. All business sectors performed as expected.
In H1, the company cash cost was RMB54,353/t (USD8,257/t) for molybdenum, RMB16,671/t (USD2,533/t) for tungsten, USD0.87/lb for Australian NPM copper C1 and USD0.28/lb for DRC TENKE copper C1.
According to the company report, they recycled 2,172t of by-product copper concentrate, yielding income of RMB9.69 million; 27kg of by-product rhenium with value of RMB780,000; the secondary recovery of ammonium molybdate reached 275t, leading to revenue of RMB16.95 million; the recycling of by-products of fluorite and iron has been in the stage of industrial expansion experiment.
In the respect of the major products, the company saw outputs of 8,161t and 5,649t for molybdenum and tungsten respectively in H1 2017; outputs of DRC copper and cobalt reached 109,186t and 7,364t; output of Brazilian niobium and phosphorus were 4,286t and 546,930t; outputs of Australian NPM copper and gold were 18,910t and 16,723 ounces. All business sectors performed as expected.
In H1, the company cash cost was RMB54,353/t (USD8,257/t) for molybdenum, RMB16,671/t (USD2,533/t) for tungsten, USD0.87/lb for Australian NPM copper C1 and USD0.28/lb for DRC TENKE copper C1.
According to the company report, they recycled 2,172t of by-product copper concentrate, yielding income of RMB9.69 million; 27kg of by-product rhenium with value of RMB780,000; the secondary recovery of ammonium molybdate reached 275t, leading to revenue of RMB16.95 million; the recycling of by-products of fluorite and iron has been in the stage of industrial expansion experiment.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China copper concentrate producers' inventory to production ratio statistics by province by month
Unit: %
