China Molybdenum Expects 55% Rise in 2014 Profit on Higher Gains from Northparkes Mine_SMM

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Home / Metal News / / China Molybdenum Expects 55% Rise in 2014 Profit on Higher Gains from Northparkes Mine

China Molybdenum Expects 55% Rise in 2014 Profit on Higher Gains from Northparkes Mine

Feb 13, 2015 14:12 icon

CST

Source:SMM

China Molybdenum Co. expects its net profit to rise 55% to 1.17 billion yuan ($190.8 million) in the 2014 fiscal year, according to the company’s statement.

SHANGHAI, Feb 13 (SMM) – China Molybdenum Co. expects its net profit to rise 55% to 1.17 billion yuan ($190.8 million) in the 2014 fiscal year, according to the company’s statement.

China Molybdenum bought the Northparkes copper & gold mine, located in Australia, in December 2013, and the mine became major contributor to the company’s profits last year.

The company also noted that gains on disposal of subsidiaries also drove up its net profit.

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China Molybdenum Co.

2014 FY results

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