Chentun Mining's net profit up by 36.19% YOY to RMB0.189 billion in 2016
2017-03-13 17:58:10 [Print]
Chentun Mining released its 2016 annual report on March 9 that the company totally realized revenues of RMB12.710 billion in 2016, up by 90.78% YOY; the net profits belonging to shareholders of listed companies were RMB0.189 billion, up by 36.19% YOY.
According to Chentun Mining, as prices for nonferrous metals especially lead, zinc and copper remained sluggish at the end of 2015 and early 2016, Chentun made strategic adjustment on mines’ production and management plan to decrease the output properly considering the maximizing of long-term revenues. The main mines of Chentun realized sales revenues of RMB0.345 billion and net profits of about RMB0.128 billion, down by 20.43% YOY and 28.19% YOY respectively. With the successive recover of metal prices in the second half of 2016, the company planned to expand the production scale of mines in 2017.
In the meantime, the company advanced the acquisition of 80% stocks of Yunnan Baoshan Hengyuan Xinmao Mining Co., Ltd. Hengyuan Xinmao owns plenty of mine reserves including lead, zinc lead-zinc and associated silver, adding power on further development on ore treatment.
Based on national policy and overseas strategic resources, the company expanded overseas mine products trading including lead, zinc and cobalt and invested 3,500tpy of cobalt and 10,000tpy of copper comprehensive utilization project in Congo, Africa. The project is in operation now.
According to Chentun Mining, as prices for nonferrous metals especially lead, zinc and copper remained sluggish at the end of 2015 and early 2016, Chentun made strategic adjustment on mines’ production and management plan to decrease the output properly considering the maximizing of long-term revenues. The main mines of Chentun realized sales revenues of RMB0.345 billion and net profits of about RMB0.128 billion, down by 20.43% YOY and 28.19% YOY respectively. With the successive recover of metal prices in the second half of 2016, the company planned to expand the production scale of mines in 2017.
In the meantime, the company advanced the acquisition of 80% stocks of Yunnan Baoshan Hengyuan Xinmao Mining Co., Ltd. Hengyuan Xinmao owns plenty of mine reserves including lead, zinc lead-zinc and associated silver, adding power on further development on ore treatment.
Based on national policy and overseas strategic resources, the company expanded overseas mine products trading including lead, zinc and cobalt and invested 3,500tpy of cobalt and 10,000tpy of copper comprehensive utilization project in Congo, Africa. The project is in operation now.
Copper Rod TC Ф8mm EXW China
Unit:RMB/mt
China refined copper producers' operating rate statistics by province by month
Unit: %
