SHANGHAI, Mar. 26 (SMM) – Jiangxi Copper Company Limited (JCC), China’s top copper producer, posted a 20.04% year-on-year fall in its net profit to 2.8 billion yuan ($460 million) in 2014, it said in its filing to the Shanghai Stock Exchange today.
The company blames lower profit on falling prices of copper, gold and silver.
JCC reported 199 billion yuan in revenues last year, up 13.04% from 2013, its earnings report showed.
The company has set itself production targets of 1.22 million tonnes of cathode copper, 209,500 tonnes (Cu content) of copper concentrate, as well as 1.02 million tonnes of copper wire rod and other copper products in 2015, it added.
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