About CMOC Company
Luoyang Luanchuan Molybdenum Group Co., Ltd. (hereinafter referred to as “Luoyang Molybdenum”, the “Company” or the “Company” together with its subsidiaries, collectively the “Group”) is a limited company established in the People's Republic of China (“China”) on August 25, 2006. The Company was successfully listed on the main board of the Hong Kong Stock Exchange Limited (“Stock Exchange”) on April 26, 2007, and successfully listed on the Shanghai Stock Exchange (“Shanghai Stock Exchange”) on October 9, 2012. The company belongs to the non-ferrous metal ore mining and selection industry. It is mainly engaged in mining and processing operations such as mining, refining, and metallurgy of basic metals and rare metals, as well as mineral trade business. Currently, the company's main business is distributed in Asia, Africa, South America, Oceania and Europe. It is the world's leading producer of tungsten, cobalt, niobium, molybdenum and an important copper producer. It is also Brazil's leading phosphate fertilizer producer. At the same time, the company's basic metals trading business is at the forefront of the world. The company ranked 918th in the “2022 Forbes” list of the world's top 2000 listed companies, and 20th in the 2022 ranking of the top 40 global mining companies (market capitalization). The company's vision is to become a respected modern, world-class resource company. In the context of the global “carbon neutrality” strategy, the company has formulated a clear development strategy and a “three-step” development model: the first step is to “lay the foundation” to reduce costs and increase efficiency. Through organizational upgrades and the establishment of a global management and control model, it constructs systems, perfects mechanisms, builds nests, attracts mining elites, and makes reserves. The second step is to “go to the next level” to double production capacity, and build and put into operation two world-class projects, the TFM hybrid mine and KFM. Along with the increase in production capacity, the team was refined in building world-class projects. With modern governance methods, subsidiary companies are controlled more effectively, and the overall level of global governance has been brought to the next level. The third step is to “make a big leap forward” to become world-class. The enterprise scale and cash flow level have reached new heights, the talent pool and project reserves have met new requirements, and will seek greater development around key regions and key varieties to achieve the vision goals.
Luoyang Molybdenum Industry (603993): A leading copper and cobalt resource with mineral+trade collaboration
A leading copper and cobalt resource with mineral+trade collaboration. The company is mainly engaged in mining and processing business such as mining, selection and metallurgy of basic metals and rare metals, and mineral trading business. The main products are molybdenum, tungsten, copper, niobium, phosphorus, copper, cobalt, etc., which have already been formed”
Changes in Hong Kong stocks | Nonferrous metals stocks had the highest decline, the Fed strengthened its hawkish stance, and the US dollar strongly suppressed non-ferrous metals
Nonferrous metals stocks had the highest decline. As of press release, China Nonferrous Mining (01258) fell 3.99% to HK$4.81; China Gold International (02099) fell 2.9% to HK$35.15; and China Aluminum (02600) fell 2.63% to HK$4.45.
Bank Ratings | UBS: Raising the target price of Luoyang Molybdenum Industry to HK$6 to “buy”
GLONGHUI, September 22 | UBS issued a report stating that the Luoyang Molybdenum Industry has reached a settlement on the KFM copper-cobalt mine equity issue in the Democratic Republic of the Congo (DRC). According to the company's guidelines, it will not affect reporting revenue, but it will directly affect operating cash flow. The bank raised its copper mine production cost forecast, lowered the average phosphate sales price and trading business profit forecast, and lowered the net profit forecast per share for the three-year period from 2023 to 2025 by 14%, 11%, and 5%, respectively. The bank maintains a positive view on Molybdenum. After the equity issue is settled, it is estimated that it will be re-evaluated in the future. The bank raised the target price of Luoyang Molybdenum from HK$5.8 to HK$6.