Unaudited Interim Results for the 6 Months ended 30/06/2012

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cvarvois

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Message Mar 28 Aoû 2012 15:33

Unaudited Interim Results for the 6 Months ended 30/06/2012

Financial Highlights of the Group

- In the first half of 2012, the Group recorded revenue of US$717.6 million, representing an increase of 17.6% from US$610.0 million in the first half of 2011.
- In the first half of 2012, the Group recorded net profit of US$92.0 million, representing an increase of 80.5% from US$51.0 million in the first half of 2011.
- In the first half of 2012, the Group recorded profit attributable to owners of the Company of US$55.4 million, representing an increase of 55.7% from US$35.6 million in the first half of 2011.
- In the first half of 2012, basic earning per share attributable to owners of the Company was approximately US$2.12, representing an increase of 54.7% from US$1.37 in the first half of 2011.
- The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2012.
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20120828074702001490072_en.pdf
Unaudited Interim Results for the 6 Months ended 30/06/2012
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cvarvois

Messages: 1378

Inscription: Mar 1 Sep 2009 16:09

Localisation: French Guiana

Message Mer 29 Aoû 2012 17:56

Re: Unaudited Interim Results for the 6 Months ended 30/06/2

En synthèse.

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China Nonferrous Mining Corporation Limited
Announces 2012 Interim Results

Recorded net profit of US$92.0 million, up 80.5% y-o-y
Profit attributable to owners of the Company reached US$55.4 million,increased 55.7% y-o-y


(29 August 2012 - Hong Kong) China Nonferrous Mining Corporation Limited ("CNMCL" or the "Group"; Stock Code: 1258) is pleased to announce the unaudited consolidated financial results for the six months ended 30 June 2012 (Reviewed by External Auditors).

The Group is a leading, fast growing and vertically integrated copper producer, focusing on the mining, ore processing, leaching, smelting and sale of copper, based in Zambia and other regions. The Group also produces sulfuric acid, a by-product generated during the blister copper smelting process. In the first half of 2012, despite the adverse impact from market fluctuations, the Group maintained a strong growth momentum in business development with results of operations amounting to new highs. During the Reporting Period, the Group saw further increases in its production and sales volume of the Group and achieved revenue of US$717.6 million, representing a 17.6% increase when compared to the same period in the previous year. Net profit reached US$92.0 million, representing an 80.5% surge from the first half year of 2011. The profit attributable to owners of the Company amounted to US$55.4 million, representing a significant growth of 55.7% over the same period in the previous year. Basic earnings per share attributable to the owners of the company was approximately US$2.12, representing an increase of 54.7% from the first half year of 2011.

The Group's operations are carried out through its four subsidiaries in Zambia: NFC Africa Mining PLC ("NFCA"), CNMC Luanshya Copper Mines PLC ("Luanshya"), Chambishi Copper Smelter Limited ("CCS") and Sino-Metals Leach Zambia Limited ("SML").

During the Reporting Period, the Congo Huachin Leach Project and the Muliashi Project of the Group officially commenced production and trial operation during the Reporting Period, propping up the Group’s competitiveness with enhanced production capacities. The other construction projects of the Group, including Phase II of the Expansion Project of CCS and the Project Integrating Exploration and Construction of the Chambishi Southeast Mine were also under smooth progress, underpinning the Group’s business growth in the future.

From 1 January to 30 June 2012, blister copper and copper cathode produced by the Group amounted to 85,384 tonnes and 7,156 tonnes, respectively, representing increases of 44.1% and 143.1%, respectively, when compared to the same period in the previous year; and the sulfuric acid generated increased by 52.2% over the same period in the previous year to 209,875 tonnes

Production overview

NFCA
NFCA mainly operates two mines, namely the Chambishi Main Mine and Chambishi West Mine, as well as their ancillary processing plants.

From 1 January to 30 June 2012, contained copper in concentrate produced by the Chambishi Main Mine and Chambishi West Mine amounted to 12,604 tonnes, representing an increase of 22.8% when compared to the same period in the previous year. Such increase in production volume was primarily attributable to the efforts of NFCA in in-depth exploration and supplement of the Chambishi Main Mine, improvement of the production system of the Chambishi West Mine, orebody dredging and drainage, testing of optimized mining methods as well as the convergence of production procedures, partially offset by adverse factors such as the shrinkage of the 700-meter-level-above recovery area in the Chambishi Main Mine and the sliming of ores of the Chambishi West Mine.

Luanshya
Luanshya operates two copper mines under production, namely the Baluba Center Mine and Muliashi North Mine, as well as the Muliashi Leach Plant.

Copper contained in concentrate produced by the Baluba Center Mine for the first half of 2012 amounted to 8,695 tonnes, representing a moderate decrease of 65 tonnes or 0.7% when compared to the same period in the previous year. In the process of in-depth development, Luanshya, in spite of increasing complexities in the orebody of the Baluba Center Mine and a decrease in ore grade, maintained a steady production volume by adopting optimized mining methods.

The Muliashi Project is designed with a production capacity of copper cathode of 40,000 tonnes per annum. At present, the leach plant has an agitation leaching system which has completed the infrastructure construction in the first half of 2012 and has produced 2,198 tonnes of copper cathode during trial production. The heap leaching system will be established within the second half of the year. Upon the commencement of production, such project is expected to underpin the expansion of the production capacity of copper cathode of the Group in the future.

CCS
CCS mainly operates the Chambishi Smelting Plant.

For the first half of 2012, blister copper and sulfuric acid produced by CCS amounted to 85,384 tonnes and 209,875 tonnes, respectively, representing increases of 44.1% or 52.2%, respectively, over the same period in the previous year. Although the one-month suspension of operation of the ISA furnace for routine maintenance by CCS in the first half of 2011 reduced the production volume, the Group managed to increase the production capacity of blister copper as well as sulfuric acid by enhancing internal management and technological renovation.

SML
SML mainly operates the Chambishi Leach Plant, and also operates the Congo Huachin Leach Project through Huachin Metals Leach SPRL.

Copper cathode produced by SML in the first half of 2012 increased by 68.4% to 4,958 tonnes from the same period in the previous year. In particular, copper cathode produced by the Chambishi Leach Plant decreased to 2,629 tonnes, primarily due to the repair and maintenance for electrolytic cells, which was more than offset by the production volume of 2,329 tonnes of copper cathode attributable to the Congo Huachin Leach Project since its commencement of production in February 2012, which increased the production capacity of SML. Meanwhile, the Chambishi Processing Plant under SML also commenced production as scheduled with a production volume of 494 tonnes of copper contained in concentrate in the first half of 2012.

Projects under progress

Phase II of the Expansion Project of CCS
The Group is forging ahead with the construction of Phase II of the Expansion Project of CCS with designed production capacities of 250,000 tonnes of blister copper and 600,000 tonnes of sulfuric acid per annum upon completion. Hitherto the slag flotation system has been established and commenced trial production; a series of renovation and expansion projects of concentrate sheds and oxygen stations have completed construction and delivery; and the transformation, drying and absorption as well as the purification sections of the sulfuric acid system have completed construction and commenced installation. The CCS Bismuth Extraction Project has entered into the final phase of installation and is expected to commence trial operation and trial production in this September.

The Project Integrating Exploration and Construction of the Chambishi Southeast Mine
The Chambishi Southeast Mine Project under development is one of the key development mine projects of the Company with a designed ore processing capacity of 3,300,000 tonnes per annum and a production capacity of copper contained in concentrate of approximately 63,000 tonnes per annum. Such project is expected to commence production in 2016.

The 20,000-tonne Mabende Leach Project of Huachin Metals in the Democratic Republic of the Congo
With a total investment of US$148 million for further optimization, the Mabende Project improved its reliability and degree of automation. With the preliminary design and the quotation inquiry for principal equipment under progress, the project is expected to officially commence construction in the second half of 2012.

The 3,000-tonne Kakoso Tailings Development Project
Upon the completion of the environmental impact assessment, the Kakoso Tailings Development Project is currently in the process of applying for land use certificate. In addition, the Group is currently pressing ahead with exploration and application for the mining right of the Mwambashi Mine, the preparation for recycling cobalt from slag in smelting furnaces, and projects such as Luanshya's recycling of cobalt from copper concentrate, as well as the development of additional reserve projects for securing a continuous growth of the Company.

Looking forward, Mr. Luo Tao, Chairman of CNMCL, said, "In the first half of 2012, the global nonferrous industry was affected by the slowdown of macro-economic growth. Nonetheless, the Group achieved a satisfactory growth in results during the Reporting Period through streamlined management and tightened control on costs and expenses. Looking forward to the second half of 2012, for overseas operations, owing to the uncertainties in the global economy, it is difficult to see significant improvements in the fundamentals of the nonferrous metal industry in the short term. From a long-term perspective, however, the global copper demand is expected to continue to grow rapidly and the fundamental of prolonged and restrained growth in the future will remain intact for a certain period of time. Backed by such strong fundamentals, the long-term copper price is expected to continue to show an optimistic outlook. In response to the abovementioned circumstances, the Group plans to strengthen the development of major projects, including the Muliashi Project and Mabende Project. Meanwhile, the Group plans to speed up the exploration and development of the ore body of Chambishi Southeast Mine and Mwambashi Mine, endeavoring to increase the copper and cobalt reserves and resources of the Group. Furthermore, the Group plans to strive to increase the output of self-produced copper concentrates by carrying through the mining work of NFCA and Baluba Center Mine. The Group plans to increase its efforts in improving its capability of handling low grade ores, strengthening its research of bioleaching technologies and speeding up the research of the technology of recovering cobalt from wastes in the smelting process. With these measures, it strives to boost the production volume of its existing projects. In adherence to the core strategy of tapping into the advantage of vertical integration in operations, it also plans to intensify cost control and improve its management in the second half of the year and to maintain its profitability."

Source : http://www.todayir.com/e/ownnews_showde ... mid=123307

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Voici par ailleurs une vidéo de présentation de ses activités zambiennes diffusée par CNMCL.


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