Copper and Cobalt Mining Projects are Prospering!

The base metal trading business has grown significantly due to the increase in prices of Cobalt, Copper, Molybdenum, Tungsten and Phosphorus. Half-year financial reports have shown a major increase in net profit.

Mining Stock Photo

“ Net Profit Louyang Molybdenum grown by 38.004 billion Chinese Yuan, or 81.63% compared to the same period last year.”

Luoyang is making a steady growth of an increase of 139% year-on-year. The previous year it had an increase of 120% year-on-year growth.

Mining in Democratic Republic of the Congo

The key project of Luoyang is taking place in Congo, the production and efficiency enhancement are the key factors. The FM copper-cobalt mixed mine project completed a feasibility study which has resulted in a steadily progress. By analysing the data and making a decision based on the findings, the operation level has improved and cost reductions have taken place on multiple levels. Due to analysing data Luoyang has achieved a 360 million Chinese Yuan cost reduction year-on-year. This has lead to a reduction in production of about 30 million US Dollars for the mining location of Congo.