China Moly achieved RMB 44.5 bln in business revenues for Q1 2022, up by 11.55% y-o-y; the net profits belonging to the listed company were RMB 1.79 bln, up by 77.88% y-o-y.
During Q1 2022, the company produced 3,812 tonnes of molybdenum and 1,943 tonnes of tungsten in China. The output of copper and cobalt from the company’s DRC project was 62,434 tonnes and 5,108 tonnes, with a y-o-y increase of 25.7% and 54.8% respectively. The company produced 2,426 tonnes of niobium and 276.5 kt of phosphorus from its Brazilian project. Australian NPM, in which the company holds an 80% stake also contributed 5.2 kt of copper and 3,790 ounces of gold production during Q1 2022.