CMOC Group Forecasts Up to 72% Jump in 2024 Profit on Higher Metal Prices

MT Newswires Live

2025/01/23

CMOC Group (SHA:603993, HKG:3993) expects an up to 72% jump in 2024 profits amid significant rises in copper and cobalt prices as well as higher copper product prices.

Attributable net profit is forecasted to rise year over year to between 12.8 billion yuan and 14.2 billion yuan in 2024 from 8.25 billion yuan the previous year, according to a Tuesday filing with the Shenzhen bourse.

Shares of the miner rose 2% in recent trade on the Shanghai and Hong Kong bourses.

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