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Zijin Mining reaps RMB 5.71-bln net profit in 2011

Mar. 29, 2012 (China Knowledge) - Zijin Mining Group Co Ltd<601899><2899>, the largest listed gold miner in China, announced yesterday that its net profit grew 18.32% year on year to RMB 5.71 billion last year, driven by increases in the prices of gold and silver.

The gold maker's operating revenue rose 39.33% year on year to RMB 39.76 billion in 2011.

The group's overall gross profit margin decreased by 5 percentage points to 30.75% in the period.

The company's total gold output reached 86.17 metric tons in 2011, comprising 28.62 metric tons of mineral gold and 57.5 metric tons of smelt gold.

The output of copper fell 2.46% year on year to 88,070.71 metric tons, and that of zinc dropped 0.50% to 222,702.36 metric tons. The output of silver reached 145.51 metric tons.

In 2012, the company aims to produce 30 metric tons of mineral gold and 50 metric tons of smelt gold.

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