Yunnan Tin reports slump in first half profit

Yunnan Tin Company reported a net profit of RMB 77.1 million (US$12.1 million) for the first half of 2012, down 78% year-on-year. In the period its operating revenue slid 12% from the same period last year to RMB 5.62 billion ($885 million). While there was an...

Yunnan Tin chairman under investigation

The chairman of Yunnan Tin Group and its listed subsidiary Yunnan Tin Company, Mr Lei Yi is under investigation for alleged “serious disciplinary violations”, according to a company statement reported by Dow Jones. Dow Jones noted that this phrase is...

Yunnan Tin to relocate tin smelter

Yunnan Tin is to spend 3.5 billion yuan (US$566 million) to relocate its main smelting facility in Gejiu city, in accordance with government environmental policies. Of the total, plant construction is estimated to amount to 1.9 billion yuan ($307 million). The...

YTC profit warning

Yunnan Tin Co Ltd announced on Friday that it would make a major loss in the first half of 2013 as a result of falling tin prices. In an announcement to the Shenzhen stock exchange the company forecast a net loss of CNY 910 – 980 million (US$ 148 – 160 million) in...

YTC reports improved 2011 results, but warns on Q1 weakness

Yunnan Tin Company, the world’s largest tin producer, said on Tuesday that its net profit for 2011 increased 92% year-on-year to RMB 703 million yuan (US$112 million at current exchange rates). According to a filing with the Shenzhen stock exchange reported by...

China plans consolidation of metals industry as growth slows

The Chinese government’s five year plans for the period 2011-2015 are based on the assumption that growth in metals consumption in China will slow considerably from the very strong rates of the last five years. This should be matched by a slower growth in...