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Shandong Gold profit surges 72% in 2008

By Zheng Lifei (chinadaily.com.cn)
Updated: 2009-03-02 14:22

Shandong Gold Mining Co, China's third largest, said its profit in 2008 surged 72 percent from 2007 to 637 million yuan ($93.13 million), or 1.80 yuan a share, driven by high gold prices and increased output.

The Shanghai-listed miner projected a further 50 percent increase in 2009 earnings to 950 million yuan on sales of 16 billion yuan.

Shandong Gold said it plans to produce 17.46 tons of gold this year.