Luoyang Molybdenum Industry's net profit to shareholders in the first quarter was 448 million yuan cobalt sales increased by 50% compared with the same period last year.

SMM News: Luoyang Molybdenum Industry announced that in the first quarter of 2020, the company achieved operating income of about 22.38 billion yuan (the same unit below), an increase of 400% over the same period last year, attributable to the parent company's net profit of 448 million yuan, an increase of 39%, and basic earnings per share of 0.021 yuan.

During the reporting period, China achieved production of 3520 tons of molybdenum and 2355 tons of tungsten, 42700 tons of copper and 3244 tons of cobalt in the Democratic Republic of the Congo, 2396 tons of niobium and 287600 tons of phosphorus in Brazil, 7, 97 tons and 5532 ounces of copper and gold in NPM, Australia, and 523000 tons of concentrate and 625000 tons of refined metals. Luoyang molybdenum sold 5344 tons of cobalt in the first quarter, up 50 per cent from a year earlier.

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