Jinling Mining Reports More Than 2-Fold Rise in H1 Net Profit

SHENZHEN, Aug. 3 -- Shenzhen-listed Shandong Jinling Mining Co Ltd<000655> announced yesterday that its net profit rose 214.57% year on year to RMB 258.66 million in the first half of this year.

Total operating revenue increased 112.59% year on year to RMB 796.39 million in the first six months, according to the firm's interim report.

The Shenzhen listed company attributed to the sharp increase in net profit to an expansion in production capacity after the completion of asset acquisition in May last year, and to increases in sales volume and sales prices of its products.

During the period form January to June, the company produced 656,723 metric tons of refined iron ore, 167,602 metric tons more than in the same period of last year, and sold 673,978 metric tons of refined iron ore in the first six months.

Output of copper grew to 807.37 metric tons during the period, while that of cobalt rose to 26.5 metric tons.