Luoyang Molybdenum Industry (603993.SH) and Ningde Times (300750.SZ) will jointly develop the Kisanfu copper and cobalt project. The staff of Luoyang molybdenum industry said that after the cooperation between the two sides, Luoyang molybdenum industry will be responsible for the specific operation of the project, and the Ningde era will not be involved in specific management., IXM (generally refers to IXM Holding S.A. And its member units, hereinafter referred to as IXM), as a subsidiary of Luoyang Molybdenum Industry, will undertake sales and logistics services.
This cooperation will help Ningde era to lock in cobalt resources. It is understood that the Kisanfu copper-cobalt mine is located in the Democratic Republic of the Congo (gold), with ore resources of 365 million tons, containing more than 6.2 million tons of copper metal and more than 3.1 million tons of cobalt metal. It is one of the highest-grade copper-cobalt mines to be developed in the world.
Although the domestic epidemic is basically stable, the global epidemic is still in the pandemic stage, bringing uncertainty to the international trade environment. The choice of Luoyang molybdenum industry in Ningde era may be related to its supply chain capacity. During the previous repeated epidemic in Africa, Luoyang Molybdenum staff once told the Financial Associated Press that the company relied on its trading platform IXM global supply chain capacity, and the transportation of mineral products was basically unaffected by the epidemic because there were alternative routes for each route.
In addition to the joint development of the Kisanfu copper and cobalt project, the two sides also intend to expand cooperation in the development of nickel and lithium resources and establish a comprehensive strategic partnership in the field of new energy metal resources.
According to the information disclosed by the staff of Luoyang molybdenum industry, the two sides held a project signing ceremony in Shanghai on April 10. Zeng Yuqun, chairman of Ningde Times, said that the two sides will join hands to give full play to their respective advantages in the areas of new energy metal resources such as lithium, cobalt, nickel and copper, and contribute to the development of the new energy automobile industry and the realization of carbon peak and carbon neutralization. Sun Ruiwen, president of Luoyang molybdenum industry, said that both sides have their own layout of key resources, and will take this as an opportunity to further carry out more in-depth and comprehensive cooperation.
According to the announcement, the cooperation agreement was signed by CMOC Limited (, a wholly-owned subsidiary of Luoyang Molybdenum (hereinafter referred to as Luo Mo Holdings) and Ningbo Bangpu Times New Energy Co., Ltd. (hereinafter referred to as Bang Pu Times), an indirect holding company of Ningde Times. Bang Pu Times acquired a 25% stake in Hong Kong KFM Holdings Limited (hereinafter referred to as KFM Holdings), a wholly-owned subsidiary of Luo Mo Holdings, for US $137.5 million. KFM Holdings holds a 95 per cent stake in Kisanfu Copper and Cobalt Mine, which Luoyang Molybdenum acquired on December 13 last year.
