Jinling Mining sees 60.79 percent decline in net profit in H1

Shandong-based Chinese iron ore miner Jinling Mining Co. has issued its financial results for the first half of this year, indicating a year-on-year decrease of over 60 percent in its net profit.
 
Jinling Mining stated that, against a background of reduced sales volumes and a sharp decline in sales prices, in the first half of 2012 its operating revenue and net profit amounted to RMB 662 million ($104.4 million) and RMB 131 million ($20.7 million), down 29.52 percent and 60.79 percent respectively, both year on year.