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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Zijin Mining Group Co., Ltd.    601899   CNE100000B24

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Zijin Mining Group Co., Ltd. : Vice President Li Yuanchao Visits Ashele Copper

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09/04/2013 | 10:21am CET

04 Sept 2013

On 31st Aug. Li Yuanchao, member of the Political Bureau of CPC Central Committee and Vice President of the People's Republic of China, paid a visit to Ashele Copper Co., Ltd., a subsidiary of Zijin Mining locating in Habahe County, Aletai District of Xinjiang Uygur Autonomous Region.

On the sight-seeing platform of the Company, Vice President asked questions on resource exploitation and utilization, construction of green mine, geological prospection, safety operation, technological innovation, recycling economy, social responsibility and strategic development plan. He highly praised the Company when he realized that Ashele has increased over 400,000 tons of its copper reserve, paid taxes over 3 billion yuan, and achieved zero discharge of industrial waste water since the operation.

Vice President Li also visited the processing plant. In the 2nd workshop, he is interested in the ball mill and its micron order grinding technology, which is researched and developed independently by the Company to recover copper from tailings. It increases over 800 tons to the Company's annual copper production and makes an additional profit of 60,000,000 yuan.

Li expressed his hope to the Company as follows: further enhance environmental protection to realize the harmonious relationship between development and nature, human and society, further invest to geological prospection around the mine site to increase resource and extend the length of mine life, develop the Company bigger and stronger to contribute more to local economy, and continue to carry out social responsibility by supporting local administration and local community.

(Edited and translated by Guo Jidong and Checked by Qiu Guozhu)

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Financials ( CNY)
Sales 2016 83 041 M
EBIT 2016 4 061 M
Net income 2016 2 003 M
Debt 2016 24 935 M
Yield 2016 1,06%
P/E ratio 2016 37,62
P/E ratio 2017 24,01
EV / Sales 2016 1,14x
EV / Sales 2017 1,03x
Capitalization 69 351 M
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Mean consensus HOLD
Number of Analysts 10
Average target price 3,41  CNY
Spread / Average Target -4,4%
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NameTitle
Jian Hua Wang President & Director
Shui Qing Lin Chairman-Supervisory Board
Jing He Chen Chairman
Hong Ying Lin Chief Financial Director & Financial Controller
Fu Sheng Lan Co-Vice Chairman
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