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CMCLF - Cobalt Miner CMOC's Profit Doubles On Heating Demand For EVs
China Molybdenum Co H Shs
Despite the healthy profit growth last year, company could face future difficulties as China vies with others for the strategically important mineral.
CMOC’s profit and revenue rose 119% and 53.9% last year, respectively, as cobalt prices rose sharply on strong demand from EV battery makers.
Company has faced recent difficulties with an important mine in the DRC, where it suspended operations after a local partner accused it of royalty evasion.