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DJ Zijin Mining 1H Net Profit Up 10.9% At CNY1.93 Bln

Sun. August 09, 2009; Posted: 07:59 PM
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HONG KONG, Aug 09, 2009 (Dow Jones Commodities News via Comtex) -- ZIJMF | Quote | Chart | News | PowerRating -- Gold miner Zijin Mining Group Co. (2899.HK) said Monday its first-half net profit rose 10.9% from a year earlier due to rising gold output.

The Hong Kong- and Shanghai-listed company said its net profit for the six months ended June 30 was CNY1.93 billion, up from CNY1.74 billion a year earlier.

Revenue for the first half rose 14.2% to CNY9.38 billion from CNY8.21 billion.

China's demand for gold has been growing rapidly as Chinese consumers' spending power has risen along with the country's booming economy. China is the world's largest gold producer and the second-largest consumer after India.

The global gold price has risen nearly 10% to around US$955/ounce since the beginning of 2009.

-By Jackie Cheung, Dow Jones Newswires; 852-2802-7002; jackie.cheung@dowjones.com

(END) Dow Jones Newswires

08-09-09 1959ET

For full details for ZIJMF click here.

    


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