Friday, 17th August 2007 (2099 views)

Hong Kong-listed gold miner Zijin Mining Group has reported an increase in net profits for the first half of this year.

Zijin, one of China's largest gold miners, reported net profits of $158 million (£79 million) in the first half of 2007.

This represents an increase of more than 81 per cent year-on-year, according to the company's interim report.

"Chen Jinghe, chairman of Fujian-province based Zijin, said in March the company plans to acquire more mineral resources and boost exploration," Mining Journal reports Bloomberg as noting.

Gold production during the second-half of 2007 is forecast at 29 tonnes compared with 22.3 tonnes in the first six months, Zijin said.

Mining Journal notes that profit for China's gold mining companies increased by 40 per cent in the first half of 2007, according to the China Gold Association.

 

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