Zhongjin Lingnan Nonfemet Earnings Up 17%


August 26 – Shenzhen Zhongjin Lingnan Nonfemet  posted 16.7-percent year-on-year growth in interim net profits to 350.51 million yuan, reports China Business News, citing a company filing.

Sales revenues grew 9.16 percent year-on-year to 4.9 billion yuan while earnings per share hit 0.17 yuan. The firm produced 54.7 tons of copper concentrate and 243 kilograms of gold concentrate.

It also generated 88.51 tons of silver concentrate, an increase of 18.41 percent year-on-year.

Of the total silver concentrate, 54.4 tons were produced in China while another 23.21 tons were made in Australia.

The company only produced only 50,000 tons of zinc ingot metals, down 74.87 percent year-on-year, because of a halt at its factory in Shaoguan city. The halt incurred a loss of 190 million yuan to the firm, constraining growth in net profits. Last December, the Shaoguan Factory was required by the municipal government to stop production while repairs were made in response to a thallium leak into a nearby river.

The facility resumed production on July 19 after gaining approval from the local State-Asset Supervision Authority. The firm also predicted that net profits for the first three quarters would grow by between 75 and 100 percent.



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