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Monday, 23rd March 2009 (842 views)

Zijin Mining Group has revealed that both revenue and net profit increased during 2008.

In its trading statement for the year ending December 31st 2008, the firm announced that revenue rose by 11 per cent.

Furthermore, net profit grew to 3,066 billion yuan (£308 million) - a rise of 20.15 per cent.

Zijin Mining was responsible for 12.2 per cent of China's entire gold haul during the year and by December it owned the prospecting rights to 280 mines and the mining rights to 37 sites.

In total the firm produced 57.32 tonnes of gold - 28.48 tonnes of which was mineral gold.

The news follows record revenues achieved by Aurizon Mines last year.

Aurizon announced growth of 21 per cent during 2008, with chief executive of the firm David Hall commenting: "Aurizon delivered a strong financial performance in 2008, enabling us to significantly reduce our debt and exit the year in a healthy financial position."

 

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