Luoyang Molybdenum Co., Ltd. forecasts a significant increase in H1 2025 profits, driven by rising copper and cobalt prices, alongside its strategic acquisition of the Cangrejos gold project in Ecuador.

Target Information

Luoyang Molybdenum Co., Ltd. (Luoyang Moly) has announced a significant increase in its projected earnings for the first half of 2025, forecasting a net profit attributable to shareholders of between 8.2 billion and 9.1 billion RMB. This represents a year-on-year increase of 51.37% to 67.98%, reflecting an increase of 2.783 billion to 3.683 billion RMB compared to the same period last year. At the lower end of the estimate, the company’s first half profits will equate to approximately 61% of the anticipated total profits for 2024, marking a remarkable achievement historically for this timeframe.

The surge in earnings is attributed primarily to the rising prices of key products such as copper and cobalt, coupled with increased production and sales volumes of copper during the same period. Data indicates that copper prices experienced a notable uptick in the first half of the year, with increases across major global exchanges ranging from 5% to 20%. Cobalt prices also saw a significant rise, with benchmark prices increasing by approximately 50% since the start of the year.

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China's mining and metallurgy industry continues to display robust growth, driven by both domestic demand and global market dynamics. The country has been focusing on increasing production efficiency and enhancing the va