Major Events in the Molybdenum Industry in 2025
On January 3, according to the Information Office of the People's Government of Inner Mongolia Autonomous Region, in 2024 Inner Mongolia added 52,400 tonnes of molybdenum resources, 591 million tonnes of iron ore resources, 80.6 tonnes of gold resources, and 11.8913 million tonnes of fluorite resources.
In January, Luoyang Molybdenum and Central South University jointly signed the "Strategic Cooperation Framework Agreement between Central South University and Luoyang Luanchuan Molybdenum Group Co., Ltd.".
On January 31, data from the U.S. Geological Survey show that as of the end of 2024, global molybdenum reserves were approximately 15 million tonnes, flat year-on-year. Among them, China has the highest molybdenum reserves at 5.9 million tonnes, accounting for 39.33% of the global total. In 2024, global molybdenum production was approximately 260,000 tonnes, increased by 4.84% year-on-year; among them, China had the highest molybdenum production at 110,000 tonnes, increased by 14.58% year-on-year, accounting for 42.31% of global total production.
On January 31, data from the U.S. Geological Survey show that in 2024, U.S. molybdenum concentrate production is estimated at 33,000 tonnes, decreased by approximately 2.94% year-on-year, accounting for 12.69% of global total production; molybdenum ore and concentrate imports estimated at 16,000 tonnes, decreased by approximately 1.23% year-on-year; primary molybdenum product imports estimated at 13,000 tonnes, decreased by approximately 3.70% year-on-year; molybdenum ore and concentrate exports estimated at 45,000 tonnes, decreased by approximately 8.16% year-on-year; primary molybdenum product exports estimated at 5,500 tonnes, increased by approximately 30.02% year-on-year.
On February 4, the Ministry of Commerce and the General Administration of Customs announced the decision to implement export controls on related items of tungsten, tellurium, bismuth, molybdenum, and indium. This announcement takes effect immediately upon release.
On February 19, global semiconductor equipment giant Lam Research officially launched the world's first atomic layer deposition equipment based on metallic molybdenum — ALTUS Halo.
In March, a research team from the Chinese Academy of Sciences achieved a major breakthrough, successfully realizing universal preparation of various two-dimensional metal materials using single-layer molybdenum disulfide anvil for extrusion operations, with product thickness only one two-hundred-thousandth of a hair diameter.
In March, researchers from East China University of Science and Technology and the University of Glasgow achieved an important scientific progress, successfully synthesizing two new giant molybdenum blue wheel-shaped clusters — {Mo85} and {Mo172}, filling the long-standing gap in octameric structures in the high-nuclear molybdenum oxygen cluster family.
In March, according to Fujian Daily, Zijin Mining recently obtained the mineral resource reserve review and filing opinion for the "Exploration Report of the Northeast Section Copper Mine in Zijinshan Mining Area" issued by the Fujian Provincial Natural Resources Review Center. This copper mine is the largest porphyry copper-molybdenum mine discovered in Fujian Province in nearly 20 years, with cumulative explored copper-molybdenum ore volume of 340 million tonnes, copper metal resources of 1.33 million tonnes, and molybdenum metal resources of 90,000 tonnes.
In May, the "Molybdenum Mineral Resource Reserve Verification Report for Baishizhang Mining Area in Wuhua County, Guangdong Province" compiled by the Guangdong Provincial Mineral Resources Survey Institute passed review smoothly, showing newly added molybdenum metal amount of over 100,000 tonnes, with the scale of newly added molybdenum resources reaching large.
On June 6, the General Office of the Ministry of Natural Resources issued the "List of Advanced Applicable Exploration Technologies for Promotion in the New Round of Strategic Action for Prospecting Breakthroughs (First Batch)", of which 4 items are related to molybdenum: Rhenium-Osmium Isotope Dating Technology - National Geological Experimental Testing Center; Solid Mineral Field On-Site Testing Technology; Strategic Mineral Multi-Element Supporting Analysis and Testing Technology; Vehicle-Mounted Arc Direct-Reading Spectrometer Detection Technology.
In June, the "Action Plan for Accelerating High-Quality Development of Nuclear Medical Industry in Guangdong Province (2025-2030)" shows promoting stable supply of major medical isotopes. Accelerate addressing shortcomings in medical isotope supply, study and build new research reactors with international advanced level and supporting experimental production facilities, achieving differentiated production and stable supply of major commonly used medical isotopes such as molybdenum-99, carbon-14, strontium-89, yttrium-90, iodine-125, iodine-131, lutetium-177, and breaking through new medical isotope R&D and production technologies.
In June, according to the official website of CTIA GROUP LTD, Luoyang Molybdenum ranked 630th on the 2025 Forbes Global 2000 list, compared to 621st in 2024.
On June 26, Luoyang Molybdenum announced the completion of the acquisition transaction of Canadian listed company Lumina Gold, formally acquiring 100% interest in the Ecuador Cangrejos Gold Project, with the transaction closing on June 24, 2025.
In the first half of 2025, Jinduicheng Molybdenum achieved revenue of RMB 6.959 billion, increased by 5.55% year-on-year; net profit attributable to parent RMB 1.380 billion, decreased by 8.45% year-on-year.
In the first half of 2025, Luoyang Molybdenum achieved operating revenue of RMB 94.773 billion, decreased by 7.83% year-on-year; net profit attributable to parent RMB 8.671 billion, increased by 60.07% year-on-year.
In July, according to Inner Mongolia Daily, from 2021 to 2024, Inner Mongolia mobilized RMB 2.655 billion in social funds to participate in geological exploration work, achieving substantial growth in strategic mineral resource reserves, such as newly added molybdenum resources of 1.1427 million tonnes, iron ore newly added resources of 718 million tonnes, gold newly added resources of 364 tonnes.
On July 30, TISCO Group, CITIC Pacific Special Steel, and Qingtuo Group jointly issued the "Joint Statement on Maintaining Healthy Development of the Molybdenum Industry Chain", announcing suspension of ferromolybdenum procurement.
On August 29, Jinduicheng Molybdenum signed a "Letter of Intent for Cooperation" with Zijin Mining, reaching preliminary intention for joint development of the Shapinggou Molybdenum Mine in Jinzhai, Anhui.
On October 21, Zijin Mining's acquisition of 84% equity in Anhui Jinsha Molybdenum Co., Ltd. through public listing has completed industrial and commercial change registration, formally transferred to the company name.
On October 25, Luoyang Molybdenum released an announcement stating that the company will invest USD 1.084 billion to construct the second phase project of KFM in the Democratic Republic of the Congo.
On October 29, Jinduicheng Molybdenum released an announcement stating that the company plans to invest in establishing a new wholly-owned subsidiary — Jinduicheng Molybdenum Weinan Huaxin Technology Co., Ltd.
On December 3, FTSE Russell announced the inclusion of Luoyang Molybdenum in the FTSE China A50 Index, with the adjustment taking effect on December 22, 2025.
On December 5, the wholly-owned subsidiary consortium of Sinoma International signed a RMB 2.7 billion PC general contract for the Dashih River Molybdenum Mine mining and beneficiation engineering.
On December 9, Shengda Resources plans to acquire 60% equity in Yichun Jinshi Mining for RMB 500 million. The core asset of Jinshi Mining is the exploration right for the 460 Highland Rock Gold Mine in Xinlin District, Greater Khingan Range, Heilongjiang Province. The 460 Highland Rock Gold Mine exploration right delineates 3 mineralized alteration zones, with Zone I being copper-molybdenum mineralized alteration zone, and Zones II and III being gold mineralized alteration zones.
On December 14, Luoyang Molybdenum acquired gold mine projects from Canadian listed company EQX, including 100% interests in the Aurizona gold mine, RDM gold mine, and Bahia mining complex.
On December 29, the State Council Tariff Commission published the "2026 Tariff Adjustment Plan", clearly stating that starting from January 1, 2026, provisional tariff rates will be implemented for molybdenum-related imported goods. Among them, ferromolybdenum has a most-favored-nation tariff rate of 2% and a provisional tariff rate of 1%; cobalt-chromium-molybdenum alloy rods for surgical implants (cobalt ≥55%, chromium 26%-30%, molybdenum 5%-7%) have a most-favored-nation tariff rate of 8% and a provisional tariff rate of 4%.
