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CMOC ranks 621st in the Forbes Global 2000, up 219 places

2024-06-26 16:42:02

Recently, the globally renowned business magazine Forbes released its list of the Global 2000 for the year 2024, with CMOC ranking 621st. This marks a significant increase of 219 places compared to 2023 and a rise of 297 places compared to 2022. Among the global metal mining enterprises listed, CMOC ranks 9th.

The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value. The total market value of the 2000 companies reached $88 trillion, with a 19% growth, while sales, profits and assets also increased slightly to a record $51.7 trillion, $4.5 trillion, and $238 trillion, respectively. The number of Chinese (including Hong Kong, Macau, and Taiwan) enterprises listed this year is 366, maintaining the second position globally. 

In 2023, CMOC achieved a revenue of RMB186.3 billion, up 7.68 % YoY. The net profit attributable to the parent company was RMB 8.25 billion, up 35.98% YoY, and EBITDA reached RMB 20.23 billion, up 11.45 % YoY. Key financial indicators all achieved historical records. The output of all products showed growth, with copper, cobalt, niobium, and phosphate fertilizer production reaching historic highs. 

As an international resources company rooted in China and expanding globally, CMOC owns mining assets in Asia, Africa, and South America. The company is a global leader in copper, molybdenum, tungsten, and niobium production, the largest cobalt producer, and a leading phosphate fertilizer producer in Brazil. Its subsidiary IXM's base metal trading business is among the top globally, covering over 80 countries.

2024 is designated as the “Refinement Year” for CMOC. The company is focused on the overarching work principle of “Tapping potential, Improving quality, Reducing costs, and Increasing efficiency”, actively enhancing operations, costs, innovation, ESG, projects, talents, and mechanisms. Since the beginning of this year, the production of the company's main products has been steadily increasing, with both TFM and KFM achieving record monthly copper production since their establishment. TFM also became the first mine in Africa to receive the Copper Mark certification. Based on CMOC's production guidelines, the company plans to produce 520,000 to 570,000 tons of copper in 2024, with an incremental increase in copper production of over 150,000 tons, making it the largest source of new copper production globally.