Shengda Mining Earns Net Profits of RMB 344 Million in 2012

SHANGHAI, Apr. 15 (SMM) – Shengda Mining's 2012 annual report shows that the company eased business income of RMB 923 million, down 2.02% YoY. Net profits of listed shareholders reached RMB 344 million, down -1.99% YoY, with RMB 0.68/share, slightly lower than the RMB 0.88/share in 2011. Despite profits shrank in 2012, profits of the company were still higher than other smelters.

Business income of the company fell due to mainly to low lead and zinc prices in 2012, but its major nonferrous metals mining and dressing businesses still have strong profitability. Its Inner Mongolia Yindu Mining has abundant mineral resource reserves with higher-than-national standards, which will also bolster the development of the company in the future.