It is reported that Hainan Iron & Steel Group made net profit in 2010 CNY 0.476 billion with 80% from investment on Hainan Mining Co Ltd other 20% from original business.
 
Hainan Iron & Steel gained sales revenue CNY 0.10057 billion from its original business with ore sales CNY 85.11 million. Currently, Hainan Iron & Steel possess annual mining capacity of 0.2 million tonnes, annual production and sales 0.1035 million tonnes, sales revenue CNY 2.84 million up by 57%YoY.
 
In addition, sales of lean iron ore doubled due to surging prices of ore. In 2010, main business of Hainan Iron & Steel increased rapidly, with sales of CNY 60 million. Average price of lean iron ore was CNY 80.89 per tonne, up 16.45% compared with that of 2009, with selling volume 0.7483 million tonnes, 2.45 times of 0.3043 million tonnes in 2009.
 

SOURCE: steelguru.com
 

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