Minmetals Rare Earth Reverses Losses in H1 2015 on Lower Costs

SHANGHAI, Aug. 14 (SMM) – Despite sluggish rare earth market, China Minmetals Rare Earth Co. managed to reverse losses in H1 as its cost reduction efforts yielded fruit.

The company reported 328.12 million yuan ($51 million) in revenues during H1 2015, soaring 61.71% from a year ago, it said in its earnings report filed to the Shenzhen Stock Exchange.

It posted 1.46 million yuan in net profit attributable to shareholders of its listed company, a sharp reversal from 42.19 million losses it suffered in H1 2014.    

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