Chinese miner CMOC Group Ltd. reported a 68% surge in earnings for the first nine months of the year, driven by soaring copper prices and higher output. Net income reached 24 billion yuan ($3.6 billion), surpassing the full-year 2025 target. Third-quarter net income jumped 40% to 7.87 billion yuan.
CMOC cited higher copper and molybdenum prices, along with increased tungsten revenue. Copper prices climbed about 15% this year, hitting a record high in September amid speculation of a Trump administration levy on refined supplies and mining disruptions in Chile. CMOC produced about 209,000 tons of copper in the third quarter, marking a second consecutive quarter above 200,000 tons.
The company also expanded into aluminum and iron ore trading this year.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing