Zhongjin Lingnan Business Revenues Fall in 2015 on Slipping Metal Prices

SHANGHAI, Apr. 5 (SMM) – Shenzhen Zhongjin Lingnan Nonfemet Co. achieved 16.94 billion yuan in business revenues in 2015, a year-on-year drop of 31.1% due to slipping metals and by-products prices.

Business revenues from lead, zinc and copper decreased 16.81% from 2014 with #2 lead prices down 5.2%, #2 silver prices down 15% and indium ingot prices down 56.2%. The company’s miners in China produced 187,400 tonnes (metal content) of lead and zinc in 2015, falling 0.79% YoY, versus 139,300 tonnes (metal content) of lead and zinc produced by the company’ s overseas mines, rising 6.50% YoY.  

Average TC for domestic ores was at 5,400 yuan per tonne (metal content) last year, a high level. And thus metal products grew in the company. Lead and zinc products totaled 258,700 tonnes, silver products 40.47 tonnes and sulphuric acid products 189,900 tonnes, up 3.4%, 32.34% and 5.65% respectively, all on the yearly basis.

The company planned to produce 330,000 tonnes (metal content) of lead and zinc in 2016, 150 tonnes of lead and zinc concentrate and 250,000 tonnes (metal content) of lead and zinc products. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.