Statistics

China's top gold producer says profit hits 3.2b yuan in 2010

(Xinhua)
Updated: 2011-01-10 09:48

BEIJING - China National Gold Group Corp, the country's largest gold producer, said Sunday its operating profit in 2010 reached 3.2 billion yuan ($471 million), more than five times the amount in 2006.

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Liu Bing, deputy general manager of the company, said at a press briefing the value of the company's total assets had reached 42.2 billion yuan by the end of 2010, and sales revenue totaled 51.8 billion yuan last year.

Asset value and sales revenue had respectively increased 5 fold and 5.9 fold since 2006, Liu said.

Song Quanli, the company spokesman, said rising gold prices had contributed to the increases in profits and sales, adding that streamlining the company's operations had also helped.

By the end of 2010, the company's reserves of gold resources reached 1,300 tons, up from 275 tons in 2006. Copper reserves reached 8 million tons, up from 1.25 million tons in 2006 while molybdenum reserves increased to 1.4 million tons from 200,000 tons in 2006.