China Knowledge reported that Zijin Mining Group Co Ltd the largest listed gold miner in China net profit fell 19.95% YoY to CNY 2.39 billion in the first half of this year due to weak gold demand amid increasing uncertainties in the global economy.

The company in a statement said earnings per share were about CNY 0.11 during the period. The gold producer realized CNY 20.99 billion in operating revenue in the first half, 32.43% more than in the same period of last year.

Zijin Mining expected that gold prices would still remain weak in the second half. Zijin Mining Group Co has acquired more than 50% of Australia-listed Norton Gold Fields which is Zijin first stake purchase of a large-scale ongoing overseas gold mine.

Source - China Knowledge

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