China Molybdenum reports robust Q3 profit growth, announces leadership changes

CMOC Group Limited reported a substantial increase in total profit for the third quarter of 2025, up 64.37% year-on-year to RMB9.17bn. This growth was primarily attributed to higher selling prices and increased production and sales of copper products. Net profit attributable to shareholders also surged by 96.40% to RMB5.61bn during the reporting period. The company’s total assets reached RMB184.19bn by the end of the third quarter, an 8.20% increase from the end of last year.

In addition to financial performance, CMOC announced significant executive changes. Sun Ruiwen resigned from his roles as executive director, president, and committee member, citing personal work reasons. Kenny Ives also resigned as vice president and chief commercial officer to devote more time to family. The board expressed appreciation for their contributions and confirmed these resignations do not impact the company's operations.

The company proposed the appointment of Peng Xuhui as an executive director, president, and chief executive officer, and Branko Buhavac as vice president and chief commercial officer. These appointments are effective immediately for senior management, with Peng's executive director role subject to shareholder approval. The KFM Phase II Project, with a construction investment of $1.084bn, is projected to increase annual copper metals by 100,000 tonnes upon completion in 2027.