Price, Output Boost to Anchor Chinese Gold Miners' Performance, S&P Says

MT Newswires Live03-18

Rising prices and improved production should support Chinese gold miners' financial performance and credit profiles in the next two years, S&P Global Ratings said in a Tuesday release.

The rated mining companies' robust operating cash flow should also serve as a cushion, with S&P expecting them to tolerate a 20% decline in gold prices from the base case.

The companies will need to increase their capital expenditures to cover their expansion targets, but S&P sees them practicing financial discipline and flexible time goals even with the large investments.

The rated miners include Shandong Gold Mining (HKG:1787, SHA:600547) parent Shandong Gold Group, Zhaojin Mining Industry (HKG:1818), and Zijin Mining Group (SHA:601899, HKG:2899).

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