en.Wedoany.com Reported - China Molybdenum Co., Ltd. (hereinafter referred to as "CMOC" or "the Company") released its first-quarter 2026 performance report on April 24. During the reporting period, the net profit attributable to the parent company reached 7.76 billion yuan, approaching 40% of the full-year profit for 2025. This represents a year-on-year increase of 96.65% and a quarter-on-quarter increase of 28.07%, marking a new all-time high for quarterly profit. The Company achieved first-quarter operating revenue of 66.403 billion yuan, up 44.34% year-on-year and 8.5% quarter-on-quarter from the fourth quarter of 2025.
Steady growth in the sales volume of core products in the first quarter, coupled with rising product prices, drove the Company's profitability to a new record high. During the quarter, CMOC produced 187,880 tonnes of copper, a year-on-year increase of 10.15%, and sold 182,177 tonnes, a year-on-year increase of 47.11%. Following the acquisition completion of four gold mines in Brazil on January 23, gold was officially incorporated into the product portfolio for the first time, achieving a production of 43,027 ounces and sales of 36,292 ounces. Niobium production reached 2,670 tonnes, up 2.06% year-on-year, setting another quarterly record high. Phosphate fertilizer production and sales reached 299,400 tonnes and 328,100 tonnes respectively, up 7.14% and 42.85% year-on-year. Benefiting from a significant surge in tungsten prices, the Company's tungsten segment generated operating revenue of 1.958 billion yuan, a year-on-year increase of 292.9%.
In the first quarter, CMOC's copper and gold segments generated operating revenues of 15.796 billion yuan and 1.202 billion yuan respectively, together accounting for 70% of the Company's total mining-related operating revenue (24.315 billion yuan). At the organizational structure level, CMOC has established a new Power Division to advance projects such as the Africa Solar-plus-Storage project and the N'Zillo2Hydropower Station. In terms of capital operations, CMOC successfully issued USD 1.2 billion in one-year zero-coupon convertible bonds. The TFM copper product obtained LME Grade A certification, enabling direct participation in international non-ferrous metal futures and spot trading. Marking the beginning of a new era for CMOC in 2026, the Company has moved beyond the stage of purely acquiring resources. Leveraging its "622 model" (60% resource endowment + 20% planning and construction + 20% operations management), it will adhere to its "Copper-Gold Dual Core" strategy.
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