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Shandong Gold profit surges 72% in 2008

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Shandong Gold Mining Co, China's third largest, said its profit in 2008 surged 72 percent from 2007 to 637 million yuan (US$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.

(China Daily March 2, 2009)

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