On February 4, Chinese state-owned metals and mineral trading company China Minmetals Group announced at its annual general meeting that in 2009 it achieved revenues of RMB 173 billion ($25.34 billion) and a net profit of RMB 3.15 billion ($461.88 million).
According to group president Zhou Zhongshu, the group made great efforts on developing its markets and boosting cost efficiency in 2009. In 2009, its sales volume of steel (billets included) reached 16.26 million mt, while its sales volumes of coal, rare earth, iron ore and electrolytic copper rose by 154 percent, 82 percent, 70 percent, and 48 percent respectively during the year. China Minmetals imported more than 10 million mt of coal and also of iron ore in 2009.