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Metallurgical Corp of China signs RMB 286.7 bln contracts

Jan. 16, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618><1618>, or MCC, the country's leading mining and smelting operator, signed RMB 286.7 billion worth of contracts in 2011, 0.6% more than it realized in 2010.

Of the total contract value, RMB 19.3 billion was inked in the overseas market, said the company in a statement filed with the Shanghai Stock Exchange.

In December alone, MCC secured six over RMB 500-million contracts, which brought the firm's total contract value to RMB 8.63 billion, accounting for 4.2% of the company's audited operating revenue in 2010.

The contracts for last December include a RMB 5.19-billion contract in Australia, a RMB 870-million contract in Anhui Province and a RMB 740-million contract in Namibia.

MCC saw its net profit plunge 13.28% year on year to RMB 2.6 billion in the first three quarters of 2011, but its operating revenue increased 19.33% from 2010 to RMB 162.08 billion.

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