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Hunan Gold's FY'15 gold output up 14%

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020


Hunan Gold's FY'15 gold output up 14%

said March31 it produced 19,647 kilograms of gold for full year 2015, up 14.27% from theyear before.

Productionof tin and tungsten dropped 6.78% and 26.28% to 30,794 tonnes and 1,551 tonnes,respectively.

Thecompany also said its net profit attributable to shareholders for 2015 stood at28.7 million Chinese yuan, or 3 fen per share, which represents an 83.61% year-on-yeardecrease from 2014 and is in line with previouslyannounced preliminary results.

Itattributed the profit decline to falling prices of gold, tin and tungsten inthe period, which was partially offset by "its efforts to improveefficiency and to cut operational costs."

Operatingrevenues dropped 4.99% year over year to 5.79 billion yuan, falling short ofits revenue target of 6 billion yuan in 2015.

Salescosts increased 10.90% to 37.7 million yuan, while administrative and financecosts dropped 10.28% and 10.34% to 633.4 million yuan and 58.4 million yuan.

Thecompany plans to produce 20,860 kilograms of gold, 28,895 tonnes of tin, and2,824 tonnes of tungsten this year. Revenue target is 6.08 billion yuan.

Asof Dec. 31, 2015, total proved reserve was estimated at 121,279 kilograms ofgold, 218,935 tonnes of tin and 106,293 tonnes of tungsten.

Thecompany owns 36 mining exploration licenses covering an area of about 573.7square kilometers and 16 mining licenses of 48.5 square kilometers.

As of March 31, US$1 wasequivalent to 6.45 Chinese yuan.