By Kari Williamson

The company, which specialises in exploration, development and processing of fluorite, zinc, lead, copper and other non-ferrous metals, recorded a 64.4% increase in gross profit to US$2.9m and a 32% rise in net income to US$618,000.

The fluorite sales volume jumped 633% to 8800 tonnes compared to the same quarter 2010 and prices per tonne rose 188% to US$382/tonne.

Xiaojing Yu, Chairperson and CEO, says: “We are please to have delivered strong growth for the third quarter. This growth has been driven by increased global demand and soaring prices for fluorite resources as well as the Chinese Government's policies of tightening restrictions for new entrants into the fluorite production industry.

“Our strategy is to continue to expand our production of fluorite products and leverage our industry leading position to acquire additional fluorite resources.”