CMOC Group, one of the world's largest cobalt and copper producers, reported a 96.7% year-over-year surge in first-quarter net profit to RMB 7.76 billion, benefiting from a rally in commodity prices and expanded production.
The Hong Kong-listed mining giant's revenue climbed 44.3% to RMB 66.403 billion for the three months ended March 31, according to a company filing. The company attributed the performance to "higher product prices, steady improvement in production and operational management capabilities, and growth in sales of major products."
The strong earnings report from CMOC reflects a broader trend of profitability for cobalt producers. Competitors like Huayou Cobalt and Jinchuan Group International Resources also reported significant profit growth in the last year, as noted in the April 2026 cobalt miners news report from Seeking Alpha. The cobalt spot price was steady at US$25.53 per pound as of April 21.
The performance of cobalt producers is closely watched as a barometer for the electric vehicle supply chain. While the Democratic Republic of Congo's export delays are tightening the supply of cobalt, the long-term demand picture is supported by the global push for electric vehicles, as highlighted by the growth of companies like ACMobility.
This article is for informational purposes only and does not constitute investment advice.
