China National Gold 2010 Profit Rose to $483 Million

Bloomberg Jan 10---China National Gold Group Corp., the nation’s largest gold producer, said profit reached 3.2 billion yuan （$483 million） last year, according to a press release given to reporters today.

The statement didn’t say whether the profit was pretax or after tax. The result compared with profit of 620 million yuan in 2006, the statement said. Sales were 51.8 billion yuan last year from 8.4 billion in 2006, it said.

The company’s gold reserves reached 1,300 metric tons at the end of 2010, up from 275 tons in 2006 while copper reserves rose to 8 million tons from 1.25 million tons in 2006, Xinhua News Agency said today, citing information from the company. Molybdenum reserves climbed to 1.4 million tons from 200,000 tons in 2006, Xinhua said.

--Xiao Yu, with assistance from Winnie Zhu. Editor: Dick Schumacher.