CMOC Group Limited
2
Projects
1
Country
3
Alliances
5
ESG Flags
World's largest cobalt producer, overtaking Glencore. Modern 'Hybrid' giant operating with commercial aggression rivaling Western majors. Mixed ownership enterprise with state-linked and private investors.
Leadership Structure
Chairman of the Board (2025)

Liu Jianfeng
Chairman of the Board (2025)
Executive Leadership

Peng Xuhui
CEO and President (Oct 2025)
Senior Executives
Lin Jiuxin
Vice Chairman (CITIC nominee), Non-executive Director
Que Chaoyang
Executive Director, Employee Representative Director
Ma Fei
Non-executive Director

Jiang Li
Non-executive Director
Wang Kaiguo
Independent Non-executive Director
Gu Hongyu
Independent Non-executive Director
Cheng Yu
Independent Non-executive Director
Mining Operations
DRC
2 OPERATIONSKisanfu Project (KFM)
Lualaba
One of world's largest, highest-grade undeveloped cobalt reserves. CATL (world's largest battery maker) holds 25% stake. Brought online with remarkable speed.
Tenke Fungurume Mine (TFM)
Lualaba
One of world's largest copper-cobalt deposits. Produces ~20k tonnes cobalt and 200k+ tonnes copper annually. 80% CMOC, 20% Gécamines. Crown jewel acquired from Freeport-McMoRan in 2016.
ESG Profile
+ 1 resolution
Dispute with Gécamines over under-reporting reserves to avoid higher royalties.
In August 2021, the DRC government established a commission to reassess reserves at the Tenke Fungurume Mining (TFM) copper and cobalt operation after Gécamines — the DRC state miner holding a 20% stake — grew suspicious that CMOC had been deliberately understating mineral reserve estimates to reduce royalty payments. Gécamines subsequently filed a lawsuit in Congolese courts, claiming CMOC owed $7.6 billion in overdue royalties and interest through alleged under-reporting of reserves and export values. In July 2022, Gécamines ordered exports from Tenke Fungurume to be halted. A court-appointed temporary administrator took control of TFM operations and suspended new export contracts until shareholders reached agreement. The Congo Prime Minister was drawn in to mediate. The dispute was ultimately resolved — CMOC agreed to pay $800 million to Gécamines (part of a broader ~$2 billion settlement package) to end the standoff and restore normal operations.
Sicomines accused of toxic spill from containment basin into Kalemba River, impacting Yenge and Kapanga villages — company disputes findings
In February/March 2022, an acid waste containment basin at SICOMINES (Sino-Congolaise des Mines S.A.) — a Chinese-Congolese joint venture located approximately 1km from Yenge village near Kolwezi — reportedly failed, releasing toxic liquid into the Kalemba River. Communities in Yenge and Kapanga villages reported flooding of homes, fish ponds, gardens, and water wells. NGO AFREWATCH documented significant agricultural damage: cassava crops rotted, sugar cane and banana trees became unproductive, and residents reported no assistance or follow-up from the company. SICOMINES denied all allegations, citing a joint environmental report concluding there was no overflow from its containment basins. The Ministry of Environment's investigation was criticised for omitting residents' testimonies and praising the company's environmental efforts. SICOMINES subsequently stopped responding to supervisory analyses from the Provincial Mines Division.
Artisanal mining incursions raise safety/human rights concerns; community protests over…
Around CMOC's Tenke Fungurume Mining (TFM) concession in Lualaba, approximately 10,000 artisanal and small-scale miners (ASM) regularly conduct illegal incursions into active mining and stockpile areas, raising serious safety and human rights concerns. The DRC government deployed soldiers to evict artisanal miners from the concession — reports from AFREWATCH and media indicate soldiers destroyed housing and shelters in two villages in the process, potentially amounting to forced evictions contrary to international law. The population of Fungurume has surged from 40,000 to approximately 200,000 in the past decade, and Tenke from 8,000 to 90,000, driven by mining activity — creating severe infrastructure pressure. Community grievances over unemployment, inadequate local hiring, and unmet infrastructure commitments have fuelled recurring protests. Workers at related operations staged a week-long strike in November 2023, with directly employed workers only securing a collective agreement including improved wages in January 2025. A DRC government report separately found that Chinese companies in the region extracted minerals worth $10 billion but built only $822 million in promised infrastructure.
TFM workers strike over bonus pay after months of COVID isolation
Thousands of workers at CMOC's Tenke Fungurume copper-cobalt mine in DRC staged a one-day strike in May 2020, demanding a $4,000 bonus and $100/day extra pay after being confined on-site for approximately two months as part of COVID-19 prevention measures. CMOC settled by agreeing to pay $100/day in additional allowance and a $300–600 bonus. Production resumed the same day.
CMOC settles dispute: $800M over 6 years + $200M entry fee
In April 2023, CMOC reached a provisional settlement with DRC state miner Gécamines over allegations that it had under-reported reserves at Tenke Fungurume to reduce royalty payments. Under the finalised July 2023 agreement, CMOC committed to pay $800 million directly to Gécamines over six years (2023–2028) and to distribute at least $1.2 billion in dividends to Gécamines as its 20% shareholder — a total package of approximately $2 billion. The settlement lifted a 10-month export ban that had halted cobalt and copper shipments from TFM since July 2022.
Strategic Alliances
CATL (Contemporary Amperex Technology)
World's largest battery manufacturer holds 25% stake in Kisanfu project (~$137M investment). Direct strategic link between mine and EV end-user. Guaranteed cobalt route to Chinese battery factories.
Strategic InvestorGécamines (DRC)
20% stake in TFM (sometimes contentious). 2023 dispute resolved with $800M settlement. 5% carried interest in Kisanfu.
Local State MinerIXM (Louis Dreyfus)
Acquired in 2019 - one of world's largest base metal trading houses. Gives CMOC market-making power and insight into global flows.
Trading Arm