Resumen de China Minmetals Rare Earth moves into profit in 2016
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.
