(Kitco News) - China Gold International (TSX: CGG) reported today that its total gold production in Q1 2022 increased by 9% to 58,583 ounces from 53,521 ounces for the same period in 2021.
The company said that its total copper production decreased slightly by 1% to 48.3 million pounds (21,923 tonnes) from 48.9 million pounds (22,191 tonnes) for the same period in 2021.
China Gold added that its revenue increased by 12% to US$304.0 million from US$272.1 million for the same period in 2021, while mine operating earnings increased by 26% to US$105.5 million from US$83.8 million for the same period in 2021.
Importantly, the company pointed out that its net income increased by 26% to US$71.8 million from US$57.0 million for the same period in 2021.
Chairman and CEO Liangyou Jiang stated, "In 2021, the company achieved the best performance in our history, following the enhancement of the company's overall operations. We continued in maintaining the upward momentum into the first quarter of 2022. Jiama Mine Phase II production was stabilized and further optimized. CSH Mine continued to operate smoothly.
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"A good start in 2022 has laid a solid foundation for the whole year. We are confident that we will achieve our annual targets for production and operation, resource and reserve update, technological innovation, safety and environmental protection, and continue to create greater value for our shareholders."
China Gold International Resources is a gold and base metal mining company incorporated in BC, Canada and operates two mines, the CSH gold mine in Inner Mongolia, China and the Jiama copper-gold polymetallic mine in Tibet, China.
