News Column

Minmetals Development H1 Net down 86.49%

August 29, 2014

SHANGHAI, August 29, SinoCast -- Minmetals Development posts that it gained CNY 69.74 billion incomes in the first half, down 9.4% year on year; it made CNY 26 million net profits, down 86.49%.

Some subsidiaries saw profit decline as major product price declined sharply. Moreover, the company's exchange losses increased due to documentary bill and US dollar loan interest rates rises and renminbi depreciation.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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