The world’s leading molybdenum producing companies are dominated not by specialist miners but by diversified copper giants, since most molybdenum reaches the market as a by-product of copper extraction. Global mine output sits at roughly 250,000-270,000 metric tons a year, concentrated among a small group of Chinese, North American and South American producers that also supply copper, steel-alloy and defence-grade markets.
How We Ranked the Top 10 Molybdenum Producing Companies
Companies are ranked by a combination of reported annual molybdenum output, scale of primary or by-product molybdenum assets, and global market influence. Where a company does not disclose molybdenum-specific tonnage, ranking reflects the scale of its underlying copper or primary-molybdenum operations relative to peers. Confirmed figures are distinguished from industry estimates throughout.
1. CMOC Group Limited — China
CMOC Group (formerly China Molybdenum Co.) is the largest of the molybdenum producing companies by reported output, with 2025 production of 13,906 metric tons. Its Sandaozhuang open-pit mine in Henan Province is one of the largest primary molybdenum-tungsten operations in the world, feeding directly into China’s domestic steel and chemical processing base. Note: 2025 production figure as reported by the company; not independently verified against USGS data.
2. Freeport-McMoRan Inc. (Climax Molybdenum) — United States
Freeport-McMoRan operates through Climax Molybdenum Company, running the Climax and Henderson mines in Colorado — two of the few primary molybdenum mines that do not depend on copper economics. Freeport also recovers significant by-product molybdenum from its 55%-owned Cerro Verde complex in Peru, and operates roasting and refining facilities in Iowa and Rotterdam.
3. Codelco — Chile
Chile’s state-owned Codelco is the world’s second-largest molybdenum producer, with all of its supply generated as a by-product across the Chuquicamata, El Teniente and Radomiro Tomic divisions. Chile’s molybdenum output has faced pressure from declining ore grades, according to USGS data, making yield management across divisions central to Codelco’s strategy.
4. Jinduicheng Molybdenum Co., Ltd. (JDC) — China
JDC is a pure-play molybdenum specialist operating the Jinduicheng Molybdenum Mine in Shaanxi Province, one of the largest open-pit primary molybdenum mines globally. The company is vertically integrated from mining through to high-purity molybdenum metal powders used in aerospace and semiconductor alloys.
5. Grupo México (Southern Copper Corporation) — Mexico / Peru
Grupo México, via its listed subsidiary Southern Copper (NYSE/BMV: SCCO), produces by-product molybdenum from the La Caridad and Buenavista mines in Mexico and the Toquepala and Cuajone operations in Peru. Its scale of copper output makes it a structurally low-cost molybdenum supplier into North American and European steel markets.
6. Antofagasta plc — United Kingdom / Chile
London-listed Antofagasta (LSE: ANTO) draws its molybdenum output from the Los Pelambres and Centinela copper concentrators in Chile. The company has reported a sharp increase in molybdenum recovery rates in recent periods, attributed to processing plant expansions. Note: specific percentage growth figures are industry-reported and have not been independently verified — flagged for confirmation.
7. BHP Group — Australia / Peru
BHP’s molybdenum exposure comes through its joint ownership of the Antamina mine in Peru, alongside Glencore and Teck. Molybdenum functions as a margin-boosting by-product credit that offsets copper production costs across BHP’s polymetallic operations.
8. Rio Tinto — United Kingdom / Australia / United States
Rio Tinto extracts commercial-grade molybdenum concentrate from its wholly-owned Kennecott Bingham Canyon mine in Utah, using froth flotation to separate molybdenum from copper ore. The Utah operation supplies a domestically secure source of molybdenum into US aerospace and defence supply chains.
9. Glencore plc — Switzerland
Glencore combines direct production — including its Antamina stake — with one of the largest third-party molybdenum trading and marketing operations globally, often described in the industry as a “molybdenum book.” This trading scale makes Glencore a key intermediary for steel mills without direct mining access.
10. Zijin Mining Group Co., Ltd. — China
Zijin Mining has rapidly expanded its molybdenum resource base through targeted acquisitions, reportedly now holding close to a third of China’s domestic molybdenum reserves. This has elevated Zijin into the top tier of global producers within a short period. Note: reserve-share estimate is industry-reported; not independently verified against a primary disclosure.
| Company | Country | Key Asset | Molybdenum Role |
|---|---|---|---|
| CMOC Group | China | Sandaozhuang | Primary |
| Freeport-McMoRan | USA | Climax / Henderson | Primary |
| Codelco | Chile | Chuquicamata | By-product |
| Jinduicheng (JDC) | China | Jinduicheng Mine | Primary |
| Grupo México / SCCO | Mexico / Peru | La Caridad | By-product |
| Antofagasta plc | UK / Chile | Los Pelambres | By-product |
| BHP Group | Australia / Peru | Antamina (JV) | By-product |
| Rio Tinto | UK / Australia / USA | Kennecott Bingham Canyon | By-product |
| Glencore plc | Switzerland | Antamina (JV) + trading book | By-product + trading |
| Zijin Mining | China | Domestic Mo assets | Primary/expanding |
The Outlook for Molybdenum Producing Companies in 2026
With most primary molybdenum mines idled globally since 2015, supply growth among molybdenum producing companies depends largely on copper-sector capital spending decisions rather than molybdenum demand itself. Steel, superalloy and defence-sector demand for molybdenum is rising faster than by-product supply can respond, keeping the market structurally tight. Track current pricing on CMN’s molybdenum price page, and see how molybdenum fits the wider critical minerals picture in What Is Molybdenum? Molybdenum’s by-product economics mirror the dynamics covered in CMN’s Top 10 Copper Mining Companies list, given the overlap in flagship assets.
Outbound sources: USGS Molybdenum Statistics, Investing News Network
Who is the #1 molybdenum producing company and why?
CMOC Group Limited ranks first among molybdenum producing companies, with reported 2025 output of 13,906 metric tons from its Sandaozhuang mine in China — the largest disclosed single-company figure in the sector.
What criteria determines the ranking?
Companies are ranked by reported annual molybdenum output and the scale of primary or by-product molybdenum assets, with confirmed figures distinguished from industry estimates.
Why do copper mining companies dominate the molybdenum producers list?
Most molybdenum is extracted as a by-product of copper mining, so diversified copper majors such as Codelco, Freeport-McMoRan, Rio Tinto and BHP supply the bulk of global molybdenum alongside their copper output.
Which company on the list is a pure-play molybdenum producer?
Jinduicheng Molybdenum Co. (JDC) is the clearest pure-play among molybdenum producing companies, operating fully integrated primary mining, smelting and chemical processing in Shaanxi Province, China.
What could change the ranking of molybdenum producing companies in future?
Since most primary molybdenum mines have been idle since 2015, new supply depends on copper-sector investment decisions — any new primary mine development or major by-product expansion could reshuffle the rankings.
