February 08, 2012 -- Updated July 27, 2010 15:39 HKT
China National Gold Group 1st Half profit up, way up!
China’s largest gold producer said Tuesday its operating profits rose by three fold to 1.55B Yuan (US$228.09M) in the 1st 6 months this year.
China National Gold Group Corp. said in a statement that its 1st Half revenue grew by 98% from a year earlier to 27.67B Yuan and expected its full-year revenue to reach 50B Yuan.
At the end of June, the gold producer had 1,250 tonnes of Gold reserves, 8M tonnes of Copper reserves and 1.6M tonnes of Molybdenum, according to the statement.
In the 1st Half of Y 2010, the company added a total of 24.7 tonnes of Gold, 683,000 tonnes of Copper and 445,000 tonnes of Molybdenum to its reserves, said the statement.
The company has improved its development strategies through conducting merge and acquisitions, integrating regional resources and exploring overseas, said Sun Zhaoxue, general manager of the Gold producer.—Paul A. Ebeling, Jnr. www.livetradingnews.com
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