FAST NEWS: CMOC’s Half-year Profit Doubles as Sales Volume and Prices Rise

The latest: China Molybdenum Co. Ltd. (CMOC) (3993.HK; 603993.SH) released a positive earnings alert Thursday, estimating net profit after deduction of non-recurring gains and losses for the first half of 2022 was between 3.292 billion and 3.559 billion yuan ($4.91 billion to $5.31 billion), an increase of 135% to 154% year-on-year. Looking up: The main reasons for the significant increase in estimated net profit include the timely commissioning of production expansion and technology improvement projects, which resulted in a 17.2% to 47.9% year-on-year increase in production of key products, such as copper, cobalt…

Read More »

Booster Shot for Brii Biosciences with First Covid Drug Launch

Brii Biosciences announced the commercial launch of its injectable Covid antibody treatment, which will be covered by government medical insurance in many parts of the country Key Takeaways: The antibody injection developed by Brii Biosciences is China’s first nationally approved Covid treatment and is effective against Omicron variants It will face fierce competition from oral drugs developed by other Chinese pharma companies By Molly Wen China’s first domestically produced Covid drug has finally launched, giving its maker an early lead in the sprint to bring new anti-virus therapies onto the…

Read More »

Ganfeng Gets Salty in Argentina With $1 Billion Lithium Purchase

One of the world’s biggest battery makers is moving aggressively into lithium mining with its new deal to buy two lithium carbonate salt lakes in South America Key Takeaways •      Ganfeng Lithium is spending nearly $1 billion on two lithium carbonate-producing salt lakes in Argentina •      Deal would see Ganfeng take full ownership of little-known Dutch-owned mining explorer Lithea Inc., in one of the company’s biggest acquisitions to date By Andrew Curran Lithium continues to have its moment in the sun, trading near record highs as demand for the once…

Read More »