Yuguang Gold & Lead Posts Significant Losses in 2013 on Lower Metal Prices

SHANGHAI, Apr. 2 (SMM) - Henan Yuguang Gold & Lead Co. posted a significant loss in 2013 due to sharply lower metal prices.

The company made a net loss of 498.66 million yuan ($81 million) last year, as compared to a net profit of 48.53 million yuan a year ago, it told Shanghai Stock Exchange today.

It produced 372,800 tonnes of lead in 2013, 5.9% less from a year ago, as well as 2,675 kilograms of gold and 700.5 tonnes of silver, each representing a decrease of 8.58% and an increase of 13.46% year-on-year, it said.

Its sales prices for lead, gold and silver fell 7%, 15% and 27%, respectively, in the period from a year ago, it added.

Yuguang plans to make 400,000 tonnes of lead, 6,500 kilograms of gold and 890 tonnes of silver this year, it said.