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Zijin Mining posts 19.95% drop in profit for H1

Aug. 13, 2012 (China Knowledge) - Zijin Mining Group Co Ltd<601899><2899>, the largest listed gold miner in China, has announced that its net profit fell 19.95% YoY to RMB 2.39 billion in the first half of this year, due to weak gold demand amid increasing uncertainties in the global economy.

Earnings per share were about RMB 0.11 during the period, said the company in a statement.

The gold producer realized RMB 20.99 billion in operating revenue in the first half, 32.43% more than in the same period of last year.

Zijin Mining expected that gold prices would still remain weak in the second half.

Zijin Mining Group Co has acquired more than 50% of Australia-listed Norton Gold Fields, which is Zijin's first stake purchase of a large-scale ongoing overseas gold mine.

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