China Molybdenum produced 3,749 mt of moly concentrates in the first quarter of 2014, at a cash production cost of Yuan 64,453/mt ($10,307/mt), the Henan based producer said in its quarterly report Monday without providing a year-on-year comparison.
The company's Q1 tungsten concentrate output was 1,635 mt, at a cash production cost of Yuan 21,059/mt ($3,368/mt), it said in a filing with the Hong Kong Stock Exchange.
The company said its Q1 net profit rose 6% year on year to Yuan 297 million ($47 million), while revenue edged up 1% to Yuan 699 million.
It attributed the higher profit to lower mine maintenance costs, which fell to Yuan 15/mt as of January 1 this year, from Yuan 18/mt last year.
China Molybdneum produced 32,436 mt of molybdenum concentrates, and 36,788 mt of moly oxide in 2013, down 0.1% and up 7.7%, respectively, from 2012, Platts reported earlier.
