HKG:3993

4 stories mentioning HKG:3993Updated 12d ago

Every FINWIRES story that references HKG:3993, newest first.

Market Chatter: CMOC's DRC Mine Threatens to Sack Striking Employees; Shanghai Shares Fall 6%

CMOC's (HKG:3993) mine in the Democratic Republic of the Congo threatened to dismiss workers who participated in a strike while offering bonuses to employees who did not, Bloomberg reported Friday.Employees at Tenke Fungurume Mining or TFM, the country's largest mine, initiated a strike on June 1 against a new collective bargaining agreement struck between TFM and a labor union delegation, Bloomberg said, citing local media.The workers said they were not consulted on the agreement and are seeking higher wages and housing allowances, according to the report.TFM said the strike was "illegal" and "has had a significant impact on the company's operations, leading to a disruption of production," Bloomberg said, citing a letter to employees.TFM's mine produced 519,000 tons of copper in 2025, the report said.Shares fell 6% in Shanghai and 5% in Hong Kong during the midday break on Monday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:3993SHA:603993

Asia53d ago

Market Chatter: CMOC Strikes $1.7 Billion Deal to Develop Ecuadorian Gold Mine

China Molybdenum (SHA:603993, HKG:3993), or CMOC Group, agreed to develop the Los Cangrejos deposit gold mine in Ecuador in a $1.7 billion deal, Bloomberg News reported Tuesday, citing a statement from the country's environment and mining ministry.The deal was made through a subsidiary, ODIN Mining del Ecuador, the report said.A spokesperson for CMOC said the deal will accelerate the implementation of the project, which is currently in the design-and-planning stage, the media outlet said.The copper and cobalt producer took over the project in June 2025 through the acquisition of Canada-based Lumina Gold, according to the media outlet.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:3993SHA:603993

US Markets54d ago

CMOC's Profit Almost Doubles in Q1 Amid Potential Ample Supply

CMOC Group's (SHA:603993, HKG:3993) attributable profit almost doubled in the first quarter as it implied ample copper and sulfur supply amid the Middle East conflict.The copper and cobalt producer's profit attributable to shareholders jumped 97% to 7.76 billion yuan from 3.95 billion yuan a year earlier, according to the company's earnings report published on the Hong Kong Stock Exchange on April 24.Earnings per share doubled to 0.36 yuan from 0.18 yuan.Operating revenue climbed 44% to 66.4 billion yuan from 46 billion yuan in the previous year.In a Sunday note, Jeffries recommended that CMOC is a good buy for investors as its first-quarter earnings were "decent," with most of the figures in line with expectations.The company's output of 187,880 tons of copper during the quarter was also in line with Jeffries' estimate.CMOC earned 15.8 billion yuan from the sale of sold 182,177 tons of copper during the period, with the revenue increasing 27% from the same period a year earlier, the company disclosure showed.Jefferies also predict that the company will have sufficient sulfur supply until the third quarter amid the Middle East war affecting global sulfur supply. Besides, CMOC implicated it has copper sufficiency after its TFM mine in the Democratic Republic of Congo received a Class A registration certification from the London Metal Exchange."Stringent cost control remains on the agenda for copper to reduce the potential impact from higher sulfur cost," Jeffries said. "Higher profit contribution from minor metals, e.g. tungsten, also helps to support the bottom line."China has been getting the upper hand when it comes to copper exports as markets began to shift sources for raw materials after the war in Iran started. In an April 9 report, Reuters said copper exports in the first two months of the year soared to 172,000 ⁠tons from the year-ago 49,000 tons.However, copper imports slumped 25% to 454,000 tons during the January-February period, the media outlet said.

HKG:3993SHA:603993

Asia54d ago

CMOC Group's Q1 Profit Nearly Doubles as Revenue Jumps 44%

CMOC Group (SHA:603993, HKG:3993) reported a 97% jump in attributable net profit in the first quarter of 2026 to 7.76 billion yuan from 3.95 billion yuan a year ago, according to filings on the Shanghai and Hong Kong bourses over the weekend.Diluted earnings per share doubled to 0.36 yuan from 0.18 yuan.The copper and cobalt producer's revenue edged up 44% to 66.4 billion yuan from 46 billion yuan.

HKG:3993SHA:603993

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