On August 19, CMOC Group released its financial results for the first half of 2026, reporting record performance across a range of key indicators.

Revenue reached RMB 135.32 billion, up 42.78% year on year, representing  nearly 70% of the full-year total in 2025. Net profit attributable to shareholders rose 86.27% to RMB 16.15 billion, equivalent to almost  80% of last year’s full-year result. Basic earnings per share increased 85.37% to RMB 0.76.

Operating cash flow remained strong at RMB 16.33 billion, up 36.02% year on year, while weighted average return on equity rose by 6.59 percentage points to 18.29%. Total assets stood at RMB 227.74 billion at the end of the reporting period, an increase of 13.34% from year-end 2025.

Performance accelerated further in the second quarter. Quarterly net profit set a new record at RMB 8.39 billion, while quarterly copper production exceeded 200,000 tonnes for the first time. Niobium production also reached a quarterly record of 2,681 tonnes.

These strong results were underpinned by higher production and sales volumes across major products, favorable commodity prices, and continued improvements in operational efficiency.

Strong production and sales across the portfolio

CMOC continued to unlock further value from its major mining operations during the first half of the year.

Copper production reached 387,961 tonnes, up 9.73% year on year, with sales up 16.60% to 376,164 tonnes. Cobalt production rose 6.93% to 65,305 tonnes. Gold production totaled 100,432 ounces, with sales of 97,526 ounces.

Niobium production increased 2.29% to 5,351 tonnes, while sales rose 2.22% to 5,583 tonnes. Phosphate fertilizer production reached 587,226 tonnes, up 0.79%.

Copper and gold remained the key contributors to the mining business, generating revenue of RMB 32.52 billion and RMB 3.02 billion respectively, together accounting for 72% of mining segment revenue.

Other metals also delivered strong revenue growth amid higher market prices. Revenue from molybdenum increased 33.11% year on year to RMB 3.93 billion, while tungsten revenue surged 187.97% to RMB 3.20 billion.

In the trading segment, IXM continued to strengthen its physical trading business, generating first-half revenue of RMB 120.46 billion, up 46.60% year on year and setting a new record for the period.

Operational excellence supported by a stronger platform

During the first half, CMOC continued to advance its platform-based operating model and strengthen organizational capabilities. The company established a Power Business Unit and a Safety and Security Division, while further upgrading its Production and Operations function.

Across its global operations, technology and operational innovation remained key drivers of productivity and cost efficiency.

At TFM and KFM in the Democratic Republic of the Congo, teams continued to optimize the balance between acid consumption and copper recovery, supporting further efficiency gains. In China, CMOC made further progress in comprehensive resource recovery, including stable production of rhenium. In Brazil, the introduction of ore-sorting technology helped improve recovery rates.

Key growth projects reach new milestones

CMOC also made important progress on projects supporting the company’s next stage of growth.

The N’zilo 2 hydropower project in the DRC completed river closure and entered the main dam construction phase, marking an important step toward strengthening the long-term power supply for CMOC’s operations in the country.

At the Odin project in Ecuador, the company signed the mining exploitation agreement and completed the first phase of land acquisition, laying the groundwork for future  project development.

Alongside business growth, CMOC continued to prioritize shareholder returns. The company plans to introduce an interim dividend for the first time, proposing a cash dividend of RMB 0.95 for every 10 shares, tax inclusive.

Building on its record first-half performance, CMOC will continue to apply its “622” value framework, advance its copper-and-gold strategy, and strengthen its global platform capabilities as it advances  toward its ambition of becoming a distinctive, world-leading mining company.