China Molybdenum saw first-half net-profit jump 72% on year

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China Molybdenum Company, one of the largest molybdenum and tungsten producers in the world, recorded a 72% growth in interim net profit to 4.15 billion yuan on the back of solid production and cost cuts. Operating revenue rose 8% year over year to approximately 91.77 billion yuan.

In the first six months, copper production increased by 24.4%, cobalt production volume jumped by 49.3% and niobium production volume expanded by 17.2% over the same period last year.

The interim earnings per share was 19.3 fen, but there will be no interim dividend for the first half.