Zijin Mining (02899) said its preliminary net profit attributable to the owners for the first half of 2014 rose 1.32% year-on-year to Rmb1.11 billion.
Operating income amounted to Rmb23.99 billion, a decrease of 7.7% from a year earlier.
The slight increase in net profit was mainly due to the average price of metals like gold and copper of the first half of 2014 decreased by a larger extent compared with the corresponding period last year; the price of mine-produced gold and mine-produced copper dropped 14.16% and 12.51%; increase in cost of gold per gramme due to the increase in integrated utilization of low-grade ores resources in Zijinshan gold and copper mine, the major mine; increase in production costs due to the increased resources tax, rise of labour costs, the increased inputs in safety and environmental protection and the increase of processing low-grade ores; and production and sales volume of mineral products were increased to partly compensate the product gross profit decline led by the fall of metal prices.
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