from Kitco site- posted today:
China's Zijin Mining H1 net profit up 45 pct yr-on-yr on higher gold prices
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BEIJING (XFN-ASIA) - Zijin Mining Group Co Ltd (SHA 601899; HK 2899),
China's second largest gold miner, said its first-half net profit rose 45.02 pct
year-on-year to 1.74 bln yuan on rising gold prices.
Revenue for the period rose 23.44 pct to 8.32 bln yuan.
Zijin Mining said its average price of gold rose 25.48 pct from a year
earlier to 204.75 yuan per gram.
Production of gold rose 19.93 pct year-on-year to 26.7 tons in the first
half.
Copper output rose 12.34 pct to 23,995 tons. Production of zinc fell by
12.15 pct while output of iron concentrates rose 14.08 pct.
The company said it would not adjust its full-year production and
operational targets. At the beginning of the year it said that it planned to
produce approximately 57.3 tons of gold this year, up 9.6 pct from last year.
Total assets stood at 25.6 bln yuan at the end of June, up from 16.8 bln at
the end of last year.
(1 usd = 6.8 yuan)
derek.jiang@xfn.com
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