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Article: Minmetals profit nears $1 bln in 2007.
- Article from:
- China Business News
- Article date:
- January 23, 2008
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Minmetals profit nears $1 bln in 2007
Shanghai. January 23. INTERFAX-CHINA - China Minmetals Corp.
(Minmetals), a leading state-owned trade firm, announced yesterday its profits almost doubled in 2007 to RMB 6.8 billion ($939.88 million) on the back of rising iron ore prices, though did not specify whether the figure represents net or gross profit.
The company, which is mainly engaged in the metals trading and mining sectors, reported $21.8 billion in sales revenue last year, rising from the $18.9 billion it recorded in 2006.
To date, the company owns reserves that contain 604 million tons of iron ore, 250 million tons of coking coal, ...