SHANGHAI, Jul. 24 (SMM) – Chenzhou Mining Group Co. posted a 31.51% year-on-year decline in net profit during the first half of the year, according to its interim report filed to Shenzhen Stock Exchange.
The company’s net profit was 54 million yuan ($8.76 million) in the first six months, or 0.05 yuan per share.
Chenzhou Mining attributes the falling profit to depressed prices for its major products – antimony, gold, and tungsten. Gold prices, though fluctuating up in H1, remained lower than a year ago, the company said.
The company produced 6,466 kilograms of gold in the first half, up 2.44% from a year earlier. Its refined antimony output was 2,772 tonnes.