- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
South China Morning Post reported that China Molybdenum Company Ltd. (HKEX:3993) is on the hunt for more acquisitions after acquiring an Australian copper mine from Rio Tinto Ltd. (ASX:RIO,LSE:RIO,NYSE:RIO).
South China Morning Post reported that China Molybdenum Company Ltd. (HKEX:3993) is on the hunt for more acquisitions after acquiring an Australian copper mine from Rio Tinto Ltd. (ASX:RIO,LSE:RIO,NYSE:RIO).
Li Chaochun, chairman of China Molybdenum, commented:
We’ll prefer mining assets in developed countries or regions with stable political conditions. We are bullish on copper over the long run. It is one of our investment priorities. We’re also studying other metals.
Higher speciality steel grades require more molybdenum. China’s increasing demand for high-strength alloys, used from offshore drilling platforms to oil pipelines, and molybdenum chemicals used in refining catalysts, will push up the metal consumption over the long run.
The market news states:
While molybdenum mines were opening up, smaller and inefficient mines were set to be closed, restraining the supply increase together with government measures to raise environmental standards against processors, Li said.
China might gradually remove its export quotas on tungsten and molybdenum by the middle of next year, Li said, after a World Trade Organisation panel determined in March that the country did not adequately justify its restrictions.
Click here to read the full South China Morning Post article.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.