What CMOC does

CMOC Group Limited (formerly China Molybdenum Co., Ltd., rebranded 2022) is a Chinese diversified global mining company dual-listed on the Hong Kong Stock Exchange (3993.HK) and Shanghai Stock Exchange (603993.SS). Founded in 1980 in Henan Province as a state-owned molybdenum/tungsten producer, CMOC transformed through a decade of aggressive international M&A beginning in 2013. The company operates seven commodity streams — copper, cobalt, molybdenum, tungsten, niobium, phosphate fertilizer, and gold — across China, the Democratic Republic of Congo (TFM, KFM), Brazil (CMOC Brasil, newly acquired Equinox gold assets), Australia (Northparkes), and Ecuador (Los Cangrejos). CMOC is the world's largest cobalt producer, a top 10 global copper producer, the world's #2 niobium producer, and an emergent gold producer pursuing a stated "Copper+Gold" dual-core strategy.

CMOC's product portfolio spans the energy-transition metals value chain (cobalt and copper for EV batteries), industrial alloys (molybdenum and tungsten for steelmaking), agricultural inputs (phosphate fertilizer in Brazil), and precious metals (gold). The company supplies major battery manufacturers including CATL (which holds a 25% stake in KFM Holding), battery-materials firms (Umicore), and EV OEMs (Tesla, via the Re|Source blockchain traceability consortium). Industrial offtake flows to global steel mills and alloy producers, while IXM — a wholly-owned subsidiary and the world's third-largest base metals merchant with 4.7 million tonnes traded in 2025 — provides integrated trading, logistics, and price-risk management across the portfolio.

CMOC's revenue is commodity-price-driven across all streams, with no company-set pricing. Reported FY2025 revenue was RMB 206.68 billion (~USD 28-29 billion) with net profit of RMB 20.34 billion (+50.30% YoY), marking the fifth consecutive year of record results. The company monetizes through physical commodity sales via IXM and direct offtake agreements, supplemented by a Triple Flag precious-metals streaming arrangement (USD 550M upfront) and CATL's KFM partnership. CMOC employs 10,000+ people, holds MSCI ESG 'AA' rating, and operates with significant technological assets including autonomous mining equipment at Northparkes, Copper Mark certification (first African mine), and an industry-leading LME Grade A copper registration (TFM-1, April 2026).

Name

CMOC

Legal name

CMOC Group Limited

Website

https://en.cmoc.com

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CMOC Group Limited is a Chinese diversified global mining company producing copper, cobalt, molybdenum, tungsten, niobium, phosphate, and gold across China, DRC, Brazil, Australia, and Ecuador, serving battery makers, industrial manufacturers, and agricultural customers via integrated mining and IXM trading operations.

Ownership category

akta.pro rank

Product category

Diversified Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (21223), Gold Ore and Silver Ore Mining (212220), Metal Service Centers and Other Metal Merchant Wholesalers (423510), Nonferrous Metal (except Aluminum) Smelting and Refining (33141)

SIC

Metal Mining (1000), Wholesale-Metals Service Centers & Offices (5051), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Copper Concentrate Trading & Marketing (IMAKADAI)

Keywords

• Copper mining
• Cobalt production
• Base metals trading
• Molybdenum tungsten mining
• Battery materials supply

Headquarters

HQ city

Henan

HQ country

China

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Mining Operations - Copper: CMOC produces copper through TFM and KFM mines in DRC and NPM in Australia. Copper production reached 741,100 tonnes in 2025, making CMOC a top 10 global copper producer.
2. Mining Operations - Cobalt: World's largest cobalt producer with operations in DRC. Cobalt production totaled approximately 30,500 tonnes in Q1 2026 and is a key supplier to battery manufacturers for EVs.
3. Mining Operations - Gold: Following acquisition of Brazilian gold assets (Aurizona, RDM, Fazenda, Santa Luz) and Ecuador's Los Cangrejos project, CMOC is emerging as a significant global gold producer with 6-8 tonnes expected gold production in 2026.
4. Mining Operations - Molybdenum and Tungsten: World-leading producer of molybdenum and tungsten from operations in China.
5. Mining Operations - Niobium and Phosphate: World's second largest niobium producer and second largest phosphate fertilizer producer in Brazil through CMOC Brasil operations.
6. IXM Metals Trading: IXM, a 100% owned subsidiary, is among the top three base metals merchants globally. IXM offtakes all CMOC products excluding molybdenum, tungsten, and phosphate. Trading volume reached 4.7 million tons in 2025.
7. Precious Metals Streaming: Triple Flag streaming agreement for Northparkes gold and silver production. Triple Flag paid $550 million upfront and receives portion of gold/silver production at 10% of spot price.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

CMOC is a diversified global mining company producing seven core commodities: copper, cobalt, molybdenum, tungsten, niobium, phosphate fertilizer, and gold. Operations span China, Democratic Republic of Congo, Brazil, Australia, and Ecuador. The company also operates IXM, a wholly-owned global base metals trading subsidiary ranked among the top three worldwide.

Product overview

CMOC (China Molybdenum Company) is a diversified global mining company with a multi-commodity portfolio. The company operates as a unified mining platform with seven core mineral products - Molybdenum, Tungsten, Copper, Cobalt, Niobium, Phosphate Fertilizer, and Gold - supported by IXM, its wholly-owned metals trading subsidiary. The company's operations span four geographic regions: China (molybdenum and tungsten), the DRC in Africa (copper and cobalt), Brazil (niobium, phosphate, and gold), Ecuador (gold), and Australia (copper and gold via Northparkes). The company has been executing a Copper+Gold dual-core strategy, expanding into precious metals through acquisitions including Brazilian gold mines in 2026 and Ecuador's Los Cangrejos gold project.

Differentiator

Problem solved

Functional benefit

Brands

• IXM: Wholly-owned subsidiary and global base metals trading arm of CMOC, among the top three metal merchants worldwide.
• TFM (Tenke Fungurume Mining)
• KFM (Kisanfu)
• Northparkes
• CMOC Brasil
• Odin Mining

Products and services

• Molybdenum Molybdenum produced from CMOC's Shangfanggou and Sandaozhuang Molybdenum Mines in China. CMOC is a world-leading molybdenum producer supplying this industrial metal for steel alloys and other industrial applications.
• Tungsten Tungsten produced from CMOC's mining operations in China. CMOC is a world-leading tungsten producer, supplying the metal for industrial applications including hard metals, steel alloys, and electronics.
• Copper Copper cathode and concentrate produced from TFM and KFM mines in the Democratic Republic of Congo and Northparkes in Australia. CMOC produced a record 741,100 tonnes of copper in 2025, ranking among the top 10 copper producers globally. TFM-1 brand achieved LME Grade A registration.
• Cobalt Cobalt produced from TFM and KFM copper-cobalt mines in the Democratic Republic of Congo. CMOC is the world's largest cobalt producer, supplying battery manufacturers for electric vehicles and energy storage. Q1 2026 cobalt production reached 30,508 tonnes.
• Niobium Niobium produced from CMOC Brasil's NML Niobium Mine in Brazil. CMOC is the world's second largest niobium producer, supplying the metal for steel alloys and superconductors.
• Phosphate Fertilizer Phosphate fertilizer produced from CMOC Brasil's CIL Phosphate Mine in Brazil. CMOC is the second largest phosphate fertilizer producer in Brazil, supplying the agricultural sector for crop production.
• Gold Gold produced from Northparkes Copper and Gold Mine in Australia, Brazilian gold mining assets (Aurizona, RDM, Fazenda, Santa Luz acquired in 2026), and the Los Cangrejos gold project in Ecuador. CMOC is a global emergent gold producer with expected production of 6-8 tonnes in 2026.
• IXM Metals Trading Services IXM is CMOC's wholly-owned trading subsidiary and one of the world's top three base metals merchants. IXM offtakes all CMOC products (excluding molybdenum, tungsten, and phosphate) and trades with third-party customers globally, with 4.7 million tons traded volume in 2025. Headquartered in Geneva, Switzerland.

Quantifiable outcome

• 741,100 tonnes copper produced in 2025 (new record)
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered moderate, core and minor.

• Tazara Railway Partnership (Zijin Mining, CCECC, COSCO Shipping, Jiayou International)moderateStrategic or Co-development Partner · 2 April 2026$1.24 billion, 30-year concession to upgrade 1,860km Tazara railway connecting Zambia's copper belt to Tanzania's Dar es Salaam port. Chinese consortium (80% stake for CCECC) with CMOC, Zijin, COSCO, Jiayou each taking 5% stakes. Jiayou contributing $62.2 million for freight services. Part of Belt and Road Initiative.
• Equinox Gold Corp.coreStrategic or Co-development Partner · 15 December 2025CMOC acquired Brazilian gold mining operations from Equinox Gold for $1.015 billion ($900M cash + $115M contingent). Assets include Aurizona mine (Maranhão), RDM mine (Minas Gerais), Fazenda and Santa Luz (Bahia). 5.013Moz gold resources, 247,300oz annual production.
• Lumina Gold Corp.coreStrategic or Co-development Partner · 16 June 2025CMOC acquired 100% equity of Lumina Gold through CMOC Singapore Pte. Ltd. for C$581 million ($419 million). Lumina holds 100% of Cangrejos gold-copper project in Ecuador. Project has 638 tonnes gold resources, 359 tonnes reserves, 26-year mine life.
• Fair Cobalt Alliance (FCA)minorStrategic or Co-development Partner · 21 June 2021CMOC and IXM joined FCA to assist professionalization of artisanal and small-scale mining (ASM) cobalt sector in DRC. FCA members include Tesla, Volvo, Glencore, Huayou Cobalt, CATL. FCA works with provincial authorities, cooperatives, NGOs, and development organizations.
• Re|Source Consortium (ERG, Glencore, Umicore, Tesla)minorStrategic or Co-development Partner · 20 May 2021Blockchain solution for end-to-end cobalt traceability from mine to EV. Founded by CMOC, ERG, Glencore; joined by Umicore, Tesla, and battery manufacturer. Uses Zero-Knowledge Proofs to link digital and physical material flows. Supported by Kryha blockchain studio. Links to Global Battery Alliance's Battery Passport project.
• Freeport-McMoRan Inc.coreStrategic or Co-development Partner · 13 December 2020Acquired Freeport's indirect 95% interest in Kisanfu copper-cobalt deposit in DRC for $550 million. Kisanfu has 365Mt grading 1.72% Cu and 0.85% Co, approximately 6.3Mt copper and 3.1Mt cobalt. Located 33km from TFM operations.
• IXM (100% subsidiary)coreOthersIXM is a 100% owned subsidiary and the world's third-largest base metals merchant. Provides integrated trading, logistics, and offtake capabilities. Physical trading volume of 4.7 million tons in 2025.
• Sumitomo (Northparkes 20% stake)minorChannel Partner/ Reseller/ DistributorSumitomo holds 20% stake in Northparkes Mines (6.7% SC Mineral Resources, 13.3% Sumitomo Metal Mining Oceania). Long-term partnership since CMOC acquired Rio Tinto's 80% stake in 2013.

Scale indicators16 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• Zijin Mining: Chinese gold-copper miner with comparable global footprint including DRC, Serbia, and South America. Most direct Chinese-listed peer to CMOC in terms of commodity mix (gold, copper) and overseas expansion strategy.
• Glencore: Largest direct peer — Swiss-listed mining and trading major that is the world's largest cobalt producer via its DRC Mutanda and Mopani operations and a top-3 copper and base-metals merchant via Glencore Marketing. Closely mirrors CMOC's combined mining + IXM trading model and is a co-member of the Re|Source traceability consortium.
• Teck Resources: Canadian diversified miner historically in copper, zinc, and coal; now a focused copper producer (Quebrada Blanca, Highland Valley) and the world's second-largest copper concentrate trader. Comparable to CMOC on copper-mining focus and concentrate-marketing capability akin to IXM.
• Freeport-McMoRan: Top global copper producer that previously owned the Kisanfu copper-cobalt deposit sold to CMOC in 2020 for $550M. Operates the Grasberg mine in Indonesia and is a direct comparable on copper-cobalt production scale and exposure.
• First Quantum Minerals: Canadian copper miner with major DRC operations (Kansanshi and Sentinel) and growing cobalt by-production. Closely comparable to CMOC's DRC copper-cobalt business model, with similar jurisdictional exposure.
• Antofagasta plc: Chile-based copper miner with multiple Chilean mines producing over 900kt of copper annually. Direct comparable on copper-mining operational profile, including by-product gold and molybdenum exposure similar to Northparkes.

Emerging players

• Hudbay Minerals: Mid-cap copper miner with copper-gold operations in Canada, Peru, and a copper project in Arizona. Comparable to CMOC's Northparkes copper-gold profile, though at smaller scale and without cobalt or trading exposure.

Broad incumbents

• Anglo American: Diversified global miner with major copper exposure (Los Pelambres, Collahuasi, Quellaveco) alongside platinum, diamonds, and iron ore. Overlapping copper portfolio but with broader commodity mix than CMOC's focused base-metals-plus-gold strategy.
• Vale S.A. Brazilian diversified miner dominant in iron ore with material copper and nickel production from Sudbury/Salobo/Voisey's Bay. Comparable to CMOC on Brazilian operating footprint (phosphate/niobium/gold) and copper exposure, though Vale is far larger and iron-ore weighted.
• BHP Group: World's largest diversified miner with significant copper (Escondida, Pampa Norte) and growing nickel exposure. Comparable on copper scale and ESG profile, though CMOC is far more concentrated in cobalt and emerging in gold.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/cmoc_group
• Facebookfacebook.com/108242369197972
• LinkedInlinkedin.com/company/china-molybdenum-co-ltd-

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CMOC