Luoyang Molybdenum’s major copper and cobalt product output achieved substantial growth in the first half of 2023, and TFM copper and cobalt products have resumed export from May 2023, but most of the copper and cobalt products have not yet realized final external sales in the first half of the year due to the logistical cycle in the DRC and Africa, which in turn impacted the Company’s financial performance in the first half of the year.
In the first half of 2023, Luoyang Molybdenum produced 19,418 tons of cobalt metal, an increase of 85.55% year-on-year, and 168,882 tons of copper metal, an increase of 23.59% year-on-year.
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