HK Stock Market Move | CMOC Group Limited (03993) up more than 3%, 2024 KFM frequency creates monthly production new high. The company has already started a new round of expansion plan.

CMOC Group Limited (03993) rose more than 3%, with an increase of 3.09% to HKD 5.67 at the time of reporting, with a turnover of HKD 211.252 million. Guolian released a research report stating that in 2024, the company's copper/cobalt metal production reached 65.02/11.42 thousand tons respectively, with a year-on-year increase of 55.0%/105.6%. In the fourth quarter of 2024, the company's copper metal production was 17.41 thousand tons, an increase of 14.2% year-on-year and 7.3% quarter-on-quarter; cobalt metal production was 2.94 thousand tons, an increase of 61.2% year-on-year and a decrease of 4.1% quarter-on-quarter. In the first half of 2024, the TFM mixed ore project successfully achieved production and standards compliance on 3 production lines, along with the existing 10K and 15K production lines, TFM formed 5 production lines with an annual copper production capacity of 450 thousand tons. KFM has an annual production capacity of 150 thousand tons of copper, and after continuous technical improvements and process innovations, it achieved monthly production records in 2024. The report continued to mention that accelerating the transformation of resource advantages into production capacity advantages and preparing for a new round of growth according to the company's five-year development plan, the copper production capacity in 2028 is expected to increase to 800-1,000 thousand tons. The company has initiated a new round of expansion plans, with the TFM Western Project and the KFM Phase II Project conducting preliminary exploration work. In which, KFM Phase II will be the first in the world to use large-scale oxygen pressure vessel technology, leading industry front-end technological development. As an important supplement to the additional production capacity, TFM is accelerating the optimization of the 15K smelting production line and studying the "10 thousand tons processing capacity improvement plan". KFM has launched a three-step action plan for "improvement in ore selection and grinding processing capacity", planning to increase processing capacity to new heights by the end of 2025.