China Molybdenum Co Ltd (CMOC, stock number: 3993.HK, 603993.SH) is one of China’s largest molybdenum and tungsten producers. As the second largest producer of tungsten, CMOC produces just over 10 percent of China’s annual tungsten concentrate production.

China Moly's acquisition of Rio Tinto's 80% interests in Northparkes copper-gold mine and associated assets was completed on December 1 2013. Northparkes copper-gold mine is the fourth largest producing copper mine in Australia. It produces high quality copper concentrates containing gold and silver at the lowest quartile cost.

In 2013 and 2014, CFA was appointed as the valuer for the acquisition of the Northparkes mine and convertible bonds.

CFA assigned several professionals with experience in oversea valuation and knowledge of the local market to the project, and performed due diligence, site inspection, mining right assessment and valuation. CFA also worked closely with domestic and international auditors, mining experts and institutions, and valuer and mineral resource appraisers, regarding topics such as financial data technical data, mineral reserves and different valuation standards. Based on local law, economy circumstances, market circumstances and China valuation standards, we adopted income approach, asset-based approach, and market approach, and issued reports for the records of China Securities Regulatory Commission.