In 2024, CMOC achieved a net profit of 13.532 billion, with the production of major products such as copper, cobalt, and niobium reaching record highs.

On March 21, CMOC released its performance report. The report showed that in 2024, the company's operating revenue exceeded 200 billion yuan for the first time, reaching 213.029 billion yuan, up 14.37% YoY. Net profit attributable to the parent company surpassed 10 billion yuan for the first time, reaching 13.532 billion yuan, up 64.03% YoY. Adjusted net profit attributable to the parent company was 13.119 billion yuan, up 110.48% YoY. Earnings per share were 0.63 yuan, up 65.79% YoY.

While achieving profit growth, CMOC maintained a stable financial position. In 2024, the company's operating cash flow was 32.387 billion yuan, up 108.38% YoY. The asset-liability ratio declined for three consecutive years, down 8.88 percentage points YoY to 49.52% in 2024. The data indicates that CMOC is continuously improving its operational quality and optimizing its asset structure.

Capacity Continues to Increase
Copper Production Ranks Among the Top 10 Globally
CMOC has been deepening its global mining layout, with production capacity in the DRC region further released. In 2024, the company's production of major products such as copper, cobalt, niobium, and phosphate fertiliser reached record highs. Among them, annual copper production was 650,200 mt, up 55% YoY, ranking CMOC among the top 10 global copper producers for the first time. According to institutional estimates, CMOC's newly added copper production accounted for nearly 60% of the global increment in 2024.

In terms of other mineral products, CMOC produced 114,200 mt of cobalt, 10,024 mt of niobium, 1.18 million mt of phosphate fertiliser, 8,288 mt of tungsten, and 15,396 mt of molybdenum in 2024, maintaining its leading position in the industry.

Global Layout Continues to Advance
Operational Efficiency Steadily Improves
In recent years, CMOC has accelerated its global operations and improved production and management efficiency. The company's trading arm, IXM, collaborated with its mining business to optimize resource allocation, achieving a net profit attributable to the parent company of 1.353 billion yuan in 2024, up 48% YoY, setting a new historical record.

In terms of cost reduction and efficiency improvement, CMOC has enhanced production efficiency through technological upgrades and management improvements. For example, KFM significantly improved recovery rates, increased production, and steadily reduced costs through process adjustments and technological innovations. The Brazilian niobium mine project implemented refined management, effectively lowering production costs. Meanwhile, the company made significant breakthroughs in energy supply, with the Heshima hydropower project in the DRC officially signed and implemented. The power station has a generating capacity of 200 MW, providing stable green energy support for CMOC's sustainable development.

Practicing High ESG Standards
ESG Rating Maintains AA Level
While improving its performance, CMOC actively fulfills its social responsibilities and promotes sustainable development. In 2024, the company's MSCI ESG rating remained at AA, ranking in the top 13% of the global non-ferrous metals industry. Additionally, CMOC was included in the FTSE Russell Social Responsibility Index for the first time.

In terms of carbon emission management, the company's carbon emission intensity for copper products is lower than 70% of global mining companies, and it disclosed Scope 3 carbon emission data for the first time. Meanwhile, CMOC's global economic contribution reached 191 billion yuan in 2024, with global community investment of 292 million yuan, fully demonstrating its strong sense of social responsibility.

Embracing Change
Entering a New Stage
While releasing the performance report, CMOC's board of directors issued an open letter stating that the company is entering a new development stage, emphasizing the promotion of organizational change and management upgrades with a "zero-based mindset." The board stated that in the face of a complex international environment and rapidly changing industry landscape, CMOC needs to continuously optimize its management structure, introduce global top talent, and deepen digital and intelligent reforms to enhance competitiveness. The company plans to advance a new round of capacity expansion projects and actively explore the application of AI technology in the mining sector, leveraging informatization to drive cost reduction and efficiency improvement.

CMOC stated that the outstanding achievements in 2024 are not only a milestone in the company's history but also a starting point for driving change and innovation. Looking ahead, CMOC will continue to maintain strategic focus, strengthen global resource integration capabilities, and strive to build a modern world-class resource company.

To learn more about the dynamics of the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo, hosted by SMM, which will be held in Nanchang, Jiangxi, from April 22-25, 2025.

Over 3,000 industry elites, representatives from upstream and downstream copper industry chain enterprises, government officials, industry associations, third-party equipment, logistics and warehousing, and academic experts will gather together. The conference covers the entire industry chain, including mines, smelting, copper processing, trade, recycling, and end-use applications.

At the conference, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry.

The conference features a variety of exciting activities: the main forum focuses on global copper market trends, raw material supply, policy impact analysis, and market direction interpretation. Sub-forums delve into industry hot topics in areas such as electrical power transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS. During the conference, there will also be a two-day field trip to 12 representative enterprises in the copper industry, with a cumulative production capacity of 1 million mt. Sharing cutting-edge technologies and valuable experiences will help upgrade the copper industry chain and promote high-quality industry development.

The CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo will help you grasp the industry pulse, expand your network, and seek business opportunities! SMM cordially invites you to gather in Nanchang, Jiangxi, from April 22-25, to unite in the new era and jointly plan new developments!