China Molybdenum reports strong Q3 profit growth, leadership changes

China Molybdenum Co., Ltd. (CMOC) reported robust financial performance for the third quarter of 2025, with net profit attributable to shareholders increasing by 96.40% to CNY 5,608,397,123.36 for the quarter and 72.61% to CNY 14,279,657,200.87 for the nine-month period, driven by higher product prices and increased copper output. Operating revenue for the nine months ended September 30, 2025, reached CNY 145,485,212,034.86. The company also confirmed its TFM copper-cobalt mine in the Democratic Republic of Congo received "Fully Satisfied" ratings in its Copper Mark re-certification.

Concurrently, CMOC announced significant leadership transitions. Mr. Sun Ruiwen resigned from his roles as president, executive director, and committee member due to personal reasons. Mr. Kenny Ives also resigned as vice president and chief commercial officer to devote more time to his family. The board expressed gratitude for their contributions.

In response, CMOC has appointed Mr. Peng Xuhui as the new president and chief executive officer, and Mr. Branko Buhavac as vice president and chief commercial officer. These appointments are effective immediately, with Mr. Peng’s executive directorship subject to shareholder approval. Furthermore, the company approved a $1.084 bn investment in the second phase of the KFM project, aiming to add 100,000 tonnes of copper metal annually by 2027, alongside a restricted share scheme to attract and retain global talent.