China Minmetals Rare Earth moves into profit in 2016

• Autores: Albert Li
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 594, 2017 (Ejemplar dedicado a: Junio)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Increase in profits; Turnover down on low prices; RNM reports profit China Minmetals Rare Earth Company, one of the biggest rare earth companies in China, moved into a profit in 2016, of Chinese renminbi (Rmb) 18.59m, from a loss in 2015.

    The return to profit was mostly attributed to the company's acquisition of Beijing Huatai Xintuo Geological Survey Technology Co., which added a net profit of Rmb 114.47m, Minmetals said.

    Sales turnover in 2016, however, dropped 2.49% year-on-year to Rmb 447.74m.

    In 2016, rare earth prices remained at low levels putting pressure on the company.