CMOC Group

Corporate brand

A Chinese multinational mining and metals-trading group producing molybdenum, tungsten, cobalt, copper, niobium, phosphate and other mineral commodities.

Last updated October 9, 2026

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Overview

CMOC Group Limited, commonly known as CMOC, is a Chinese mining and metals-trading company headquartered in Henan. It originated as a state-owned molybdenum enterprise established in 1969 in Luanchuan County, an area associated with major molybdenum deposits. Over time, the company expanded from domestic molybdenum and tungsten mining into a diversified international resources group with interests in copper, cobalt, niobium, phosphate and precious metals. The company’s Chinese operations include the Sandaozhuang molybdenum-tungsten mine, the Shangfanggou molybdenum-iron mine and the Donggebi molybdenum mine. Its international expansion accelerated after its 2013 acquisition of an interest in Australia’s Northparkes copper-gold mine, its 2016 purchase of Brazilian niobium and phosphate assets from Anglo American, and its 2016 acquisition of an 80% interest in the Tenke Fungurume copper-cobalt mine in the Democratic Republic of the Congo. CMOC later acquired a majority interest in the Kisanfu copper-cobalt project and increased its presence in the battery-metals supply chain through a partnership with Contemporary Amperex Technology. Cobalt became central to the group’s global profile because of its exposure to large Congolese copper-cobalt operations. The company has described itself as one of the world’s leading producers of molybdenum, tungsten, cobalt, niobium and copper. Its commodities are used in steel alloys, superalloys, electronics, batteries, construction, chemicals and industrial equipment. The group also owns IXM, an international metals-trading business based in Geneva, which handles a range of base and battery metals including copper, zinc, aluminium, nickel, cobalt, niobium and lithium. CMOC has been listed in Hong Kong since 2007 and in Shanghai since 2012. In 2022, it changed its corporate name from China Molybdenum Company Limited to CMOC Group Limited, reflecting its broader portfolio beyond molybdenum. The group’s growth has been accompanied by governance and stakeholder disputes, notably a disclosure sanction concerning a Chinese acquisition and a prolonged royalty disagreement with the Democratic Republic of the Congo over Tenke Fungurume. The latter was resolved in 2023, enabling exports to resume. CMOC remains an active, globally diversified mining company. Its strategic profile combines ownership and operation of large-scale mines, mineral processing, smelting and international commodity trading. The company’s principal challenges include commodity-price volatility, permitting and environmental obligations, supply-chain scrutiny, geopolitical exposure, labor and community relations, and the governance risks associated with operating in multiple resource-producing jurisdictions.

History

CMOC Group was established in 1999 in Luoyang, Henan, where molybdenum mining and processing formed an important part of the local industrial economy. The company developed from a domestic resource business into an integrated mining group with activities covering extraction, beneficiation, smelting, processing and mineral marketing. Its original focus on molybdenum was later supplemented by tungsten, copper, cobalt, niobium, phosphate and gold. The company’s public-market development began with a Hong Kong listing in 2007, followed by a Shanghai listing in 2012. Dual-market access supported expansion and increased the company’s ability to pursue large overseas transactions. CMOC’s strategy shifted decisively toward international diversification during the 2010s. In 2016, it acquired a controlling interest in the Tenke Fungurume copper-cobalt operation in the Democratic Republic of the Congo and bought the Chapada copper-gold mine in Brazil. These transactions gave the group significant exposure to large-scale copper production and to cobalt, a metal with important battery and industrial applications. CMOC’s Australian business includes the Northparkes copper-gold mine in New South Wales, operated through a joint venture with Sumitomo. The company also maintains important Brazilian niobium and phosphate activities. In 2020, it agreed to acquire an additional interest in the Kisanfu copper-cobalt project in the Democratic Republic of the Congo. Kisanfu increased the strategic importance of CMOC’s Congo portfolio and supported its longer-term ambition to expand copper and cobalt production. The Congo operations have also generated governance and regulatory challenges. In 2022, the authorities in the Democratic Republic of the Congo restricted exports from Tenke Fungurume during a disagreement involving royalties, reserves and related contractual matters. The dispute was subsequently addressed through negotiations and a revised arrangement, after which exports resumed in 2023. The episode highlighted the political, fiscal and operating risks associated with large overseas mining assets, while also underscoring the importance of host-government relationships and transparent resource reporting. In the 2020s, CMOC positioned itself as one of the world’s significant producers of copper and cobalt while retaining its Chinese molybdenum and tungsten base and its Brazilian niobium and phosphate businesses. Its growth has been supported by capacity expansion, mine development, processing improvements and a focus on metals linked to electrification and infrastructure. The group continues to operate in a highly cyclical sector, where commodity prices, production guidance, environmental requirements, labor conditions, logistics, local taxation and community relations can materially affect results. CMOC is not primarily a retail-facing brand. Its customers are industrial users, processors, smelters, traders and other businesses that purchase concentrates, refined products and mineral inputs. The company’s public identity is consequently tied to its resources, production volumes, operating jurisdictions, financial-market listings and sustainability performance rather than to consumer advertising. Its present business profile is that of a Chinese-controlled, internationally diversified mining and metals group with a particularly prominent position in copper and cobalt.

2023
Congo export dispute resolved
[5]Reuters report on resumed Congo cobalt exportsreuters.com
Following negotiations with the Democratic Republic of the Congo, the Tenke Fungurume royalty and export dispute was resolved and cobalt exports resumed.
2020
Kisanfu acquisition
[1]CMOC Group official websitecmoc.com
CMOC acquired an additional interest in the Kisanfu copper-cobalt project in the Democratic Republic of the Congo.
2016
International copper and gold expansion
[1]CMOC Group official websitecmoc.com
CMOC acquired a controlling interest in Tenke Fungurume Mining in the Democratic Republic of the Congo and acquired the Chapada copper-gold mine in Brazil.
2012
Shanghai listing
[4]Shanghai Stock Exchangesse.com.cn
CMOC completed a listing on the Shanghai Stock Exchange.
2007
Hong Kong listing
[3]Hong Kong Stock Exchangehkex.com.hk
The company listed its shares on the Hong Kong Stock Exchange, expanding access to international capital.
1999
Company established
[1]CMOC Group official websitecmoc.com
CMOC was established in Luoyang, Henan, with roots in the region’s molybdenum mining and processing industry.

Products and positioning

A diversified, internationally active mining and metals group with particular strength in copper and cobalt, supported by established molybdenum, tungsten, niobium, phosphate and gold businesses.

Base metals
Copper
Copper is CMOC’s most strategically important product line. The group produces copper concentrate and related copper-bearing materials from operations including Tenke Fungurume in the Democratic Republic of the Congo, Northparkes in Australia and Chapada in Brazil. Copper serves electrical, construction, infrastructure, transport and industrial markets.
Battery and specialty metals
Cobalt
Cobalt is principally associated with CMOC’s Democratic Republic of the Congo operations. The company produces cobalt-bearing intermediate materials, including cobalt hydroxide, which are supplied into industrial and battery-material value chains. Cobalt production is subject to heightened scrutiny concerning traceability, labor conditions and responsible sourcing.
Alloying metals
Molybdenum
Molybdenum is the company’s historic core commodity. CMOC mines and processes molybdenum in China and supplies molybdenum concentrates and processed products used mainly in alloy steels, stainless steels, energy equipment and other high-performance industrial applications.
Specialty metals
Tungsten
CMOC’s tungsten business produces tungsten-bearing materials used in hard metals, cutting tools, wear-resistant components and other industrial applications. Tungsten complements the company’s molybdenum portfolio and reinforces its position in China’s specialty-metals sector.
Alloying metals
Niobium
The company’s Brazilian niobium business supplies niobium products used primarily in high-strength and specialty steels. Niobium can improve strength and performance at relatively low addition rates, making it important to steelmakers and infrastructure-related industries.
Agricultural materials
Phosphate
CMOC’s phosphate operations produce phosphate-based fertilizer and related mineral products for agricultural markets. This business provides exposure to fertilizer demand alongside the group’s metals activities.

Controversies

Hong Kong Stock Exchange sanction over Huqi acquisition disclosure
TFM royalty dispute with DRC government

2023
Resolve Tenke Fungurume royalty and export disputeStrategy
Background
The Democratic Republic of the Congo had restricted exports from Tenke Fungurume during a dispute concerning royalties, reserves and contractual arrangements.
Action taken
CMOC and the Congolese authorities reached a revised arrangement covering the disputed matters.
Aftermath
Cobalt exports resumed, allowing the operation to return to normal international sales while highlighting the political and regulatory risks of the asset.
Source
2020
Acquire additional Kisanfu interestM&A
Background
CMOC aimed to strengthen its long-term copper and cobalt resource position in the Democratic Republic of the Congo.
Action taken
CMOC acquired an additional interest in the Kisanfu copper-cobalt project from Freeport-McMoRan.
Aftermath
Kisanfu became an important part of CMOC’s future copper-cobalt growth pipeline.
Source
2016
Acquire control of Tenke Fungurume MiningM&A
Background
CMOC sought to expand beyond its Chinese molybdenum and tungsten base and obtain large-scale copper and cobalt resources.
Action taken
The company acquired a controlling interest in Tenke Fungurume Mining in the Democratic Republic of the Congo.
Aftermath
The transaction made copper and cobalt central to CMOC’s international growth strategy and materially increased its overseas operating footprint.
Source
2016
Acquire Chapada copper-gold mineM&A
Background
CMOC pursued geographic and commodity diversification through an acquisition in Brazil.
Action taken
The company acquired the Chapada copper-gold mine from Yamana Gold.
Aftermath
The acquisition added a producing copper-gold asset in Brazil to CMOC’s international portfolio.
Source

Recent events

Unconfirmed
CMOC announces acquisition of Woyuan Holdings[10]洛阳钼业宣布收购沃源控股股权guba.eastmoney.com
CMOC said that, through its wholly owned Hong Kong subsidiary, it would acquire 100% of Woyuan Holdings for $11.2587 million or equivalent. The proposed transactions would leave CMOC indirectly holding 21% of Huayue Nickel Cobalt; the source does not state that the acquisition was completed.
2020-12-11
CMOC completed acquisition of a 95% interest in the Kisanfu copper-cobalt project[11]洛阳钼业完成收购Kisanfu铜钴矿95%权益sc.stock.cnfol.com
CMOC said its subsidiary NREIT completed the purchase of all shares in Jenny East and Kisanfu from FMEC, giving CMOC a 95% interest in the Kisanfu copper-cobalt project, for total consideration of US$550 million.
Unconfirmed
Luoyang Molybdenum reports first-half results[12]洛阳钼业报告上半年业绩finance.sina.com.cn
Reported: 2020-09-01
Luoyang Molybdenum reported that first-half revenue increased 368.44% year over year while net profit excluding non-recurring items fell 27.21%.
2020-08-06
Luoyang Molybdenum recognized for overseas corporate responsibility[13]洛阳钼业获评海外履责企业finance.sina.com.cn
Reported: 2020-08-06
Luoyang Molybdenum was named an “Overseas Responsibility Enterprise” in the 2020 Golden Bee Corporate Social Responsibility China榜. A community-livelihood project by its subsidiary TFM was also included in the 2020 Golden Bee Responsibility Competitiveness Case Collection.
2019-11-13
CMOC announces proposed investment in Huayue Nickel Cobalt[14]洛阳钼业公告拟投资华越镍钴finance.sina.com.cn
Reported: 2019-11-13
CMOC announced a proposed investment in Huayue Nickel Cobalt in Indonesia. The proposal includes its wholly owned subsidiary acquiring 100% of Woyuan Holdings and Woyuan acquiring a 10% stake in Huayue Nickel Cobalt from IMIP, resulting in CMOC indirectly holding 21%. After the share transfers, CMOC proposes to increase its stake to 30% through a capital increase of up to US$69.1 million.
Unconfirmed
Luoyang Molybdenum completes acquisition of a 24% interest in TFM[15]洛阳钼业完成收购TFM 24%权益finance.sina.com.cn
Reported: 2019-09-27
Luoyang Molybdenum announced that its wholly owned subsidiary CMOC Limited completed the purchase of all shares in BHR Newwood DRC Holdings Ltd held by BHR Newwood Investment Management Limited, thereby acquiring indirectly held 24% equity in Tenke Fungurume Mining S.A.

Sources15 sources

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