On January 20, China Minmetals Corporation, a major Chinese state-owned metals and mineral trading company, announced that in 2010 its sales revenues reached RMB 255 billion ($387.5 billion), while it recorded a net profit of RMB 7 billion.
Zhou Zhongshu, president of China Minmetals Corp., said the company plans to increase its annual sales revenues to RMB 400 billion ($60.79 billion) by 2015, while it is targeting a net profit of RMB 15 billion ($2.28 billion) also by 2015.
In 2010, China Minmetals Corp. registered its best business performance ever. Its sales volumes of finished steel, iron ore, coal, ferroalloys, lead, among other commodities, all broke records.
China Minmetals Corp. had previously announced that it would go public at the end of 2010; however, it has still not given a date for its listing on the stock exchange.
Mr. Zhou added that in 2011 China Minmetals Corp would step up its efforts in investment, management and human resources, and would improve its integration work with Hunan Nonferrous Metals Holding Group which it acquired last year.