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Zijin Mining forecast 20.03% rise in 2011 profit

Feb. 3, 2012 (China Knowledge) - Zijin Mining Group Co Ltd<601899><2899>, the largest listed gold miner in China, said yesterday that it expected its net profit to grow 20.03% year on year to RMB 5.80 billion in 2011, due to an increase in gold price.

The gold producer said in a statement filed with the Shanghai Stock Exchange basic earnings per share were estimated at RMB 0.27 last year.

Zijin Mining saw its operating revenue increase 39.51% year on year to RMB 39.82 billion in the period.
Both Zhongjin Gold Co<600489> and Shandong Gold Mining Co<600547> earlier forecast a growth of more than 50% in net profit in 2011.

China Gold Association said the country's gold output increased 5.89% year on year to 360.96 metric tons last year, reflecting the highest level ever recorded.

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