Biz Scene: Market

Tin profit

Yunnan Tin Co, the world's biggest producer of the metal, said 2007 profit may almost triple on increased tin prices. Net income will probably rise between 150 and 180 percent, the company said in a statement to the Shenzhen Stock Exchange yesterday. The tin producer, based in Kunming in Yunnan Province, made a profit of 212.6 million yuan last year.

Mining capacity

Western Mining Co, China's second largest lead miner, will boost the projected mining capacity of its two copper mines in the western provinces, it said yesterday.

Western Mining, in which a unit of Goldman Sachs holds an 8 percent stake, has said it will use the proceeds from a share issue early this year to expand facilities including copper mines.

The company, also China's fourth largest zinc miner, said it will double the planned mining capacity of an Inner Mongolia copper mine to 4 million tons a year by 2010. The mine went into trial operation last week.

(China Daily 10/24/2007 page15)