Zheng Quan Ri Bao·2025-06-27 13:41Core Viewpoint - Luoyang Molybdenum Co., Ltd. (referred to as "the company") has announced a record cash dividend of 5.456 billion yuan for 2024, reflecting its commitment to shareholder returns and confidence in future profitability [2][3]. Financial Performance - In 2024, the company achieved operating revenue of 213.03 billion yuan, marking a 14.37% year-on-year increase and surpassing the 200 billion yuan threshold for the first time [3]. - The net profit attributable to shareholders reached 13.532 billion yuan, a significant increase of 64.03% year-on-year, also setting a historical high [3]. - Operating cash flow amounted to 32.387 billion yuan, showing a remarkable growth of 108.38% compared to the previous year [3]. Production and Market Position - The company produced 650,200 tons of copper in 2024, a 55% increase, positioning it among the top ten copper producers globally [4]. - The company plans to produce between 600,000 to 660,000 tons of copper in 2025, indicating a strong production outlook [4]. - The average copper price has risen by 7.65% year-to-date, contributing positively to the company's financial performance [4]. Strategic Initiatives - The company is pursuing a new round of expansion plans for existing mines, including the TFM West project and KFM Phase II, aiming for a copper production target of 800,000 to 1,000,000 tons by 2028 [4]. - Luoyang Molybdenum is actively seeking external growth opportunities while focusing on core products like copper and gold, with plans for strategic acquisitions in line with industry development trends [4][5]. Recent Acquisitions - On April 21, the company announced a cash acquisition of Lumina Gold for 581 million Canadian dollars, gaining full ownership of the Cangrejos gold project in Ecuador [5]. - The acquisition was completed on June 24, adding significant gold resources to the company's portfolio, with production expected to commence in 2028 at an annual output of approximately 11.5 tons [5].