Zijin Mining Sees 2009 Profit up over 15%

HONG KONG, Jan. 7 -- Zijin Mining Group Co Ltd (2899.HK: Quote), China's largest listed gold company, said it expected its net profit rose more than 15 percent last year from 2008 due to increased production and higher gold prices.

The company reported a net profit of 3.07 billion yuan ($449.7 million) for 2008.

"(The rise) was mainly attributable to the increase of the production volume of the main mineral products and the sales price of gold of the company," Zijin said in a statement to the Hong Kong Stock Exchange late on Wednesday.

Zijin said audited financial results would be disclosed in its 2009 annual report. The company did not specify when the results would be released but last year they were published in late March.