China's top gold producer says profits up 57% in '11

BEIJING - China National Gold Group Corp, the country's largest gold producer, said Friday that its profits surged 57 percent year-on-year to 5 billion yuan ($791.13 million) in 2011.

Its business revenues rose 35 percent year-on-year to 70 billion yuan last year, the company said in an annual report.

The company's total assets stood at 53.5 billion yuan as of the end of 2011, up 11.3 billion yuan from the previous year, the company said.

As of the end of 2011, the company's gold reserves reached 1,384 metric tons, while its copper, molybdenum and silver reserves stood at 9.9 million, 2.01 million and 8,790 metric tons, respectively, the report said.