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Metallurgical Corp's new contract value down 19.6% in Jan-Oct

Nov. 16, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618><1618> or MCC, the country's leading mining and smelting operator, has said its new contract value for the first ten months of this year decreased 19.6% YoY to RMB 197.84 billion.

According to a statement filed with Shanghai Stock Exchange, the mining and smelting operator saw its overseas contract hit RMB 14.33 billion in the ten-month period.

In October 2012, the company inked five major contracts worth over RMB 500 million each with contract value of RMB 2.55 billion, accounted for 1.1% of its 2011 operating revenue.

In the first nine months of this year, MCC realized RMB 155.28 billion in operating revenue, down 4.2% YoY, while its net profit attributable to shareholders declined 74.58% from a year earlier to RMB 661.54 million.

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