Soaring profits at gold producer

China National Gold Group Corp, the nation's largest gold producer, said its operating profits rose three-fold to 1.55 billion yuan in the first six months this year.

The company said in a statement that its first-half revenue grew by 98 percent from a year earlier to 27.67 billion yuan and expected its full-year revenue to reach 50 billion yuan.

At the end of June, the gold producer had 1,250 tons of gold reserves, 8 million tons of copper reserves and 1.6 million tons of molybdenum, according to the statement. During the period, the company added a total of 24.7 tons of gold, 683,000 tons of copper and 445,000 tons of molybdenum to its reserves, said the statement.

Source:China Daily