SHANGHAI, Mar. 5 (SMM) – Xinjiang Xinxin Mining Industry Co. expects its operating revenue to grow some 300% in the 2014 fiscal year, bringing the company back to profitability, the company said in the positive profit alert.
The company said its refined nickel sales increased sharply in 2014, giving a rise to its total operating income. Besides, improving nickel prices and lower production costs also helped to company turn around.
However, the company noted that Wuxin Copper - its 100,000 tpy copper project starting trial run in June 2014 – suffered losses, due to negative economic conditions, falling copper prices, and as the project has not yet reach capacity.
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