Yunnan Copper's net profits down 96%; warns about the dangers of imposition of resources tax

摘要

China's Yunnan Coppersaw net profits fall 96% year-on-year in 2012 on lower metal prices and warned that higher resource taxes and tougher environmental regulations would pose a challenge this year. Yunnan Copper recorded net profits of 24.9 million yuan ($4 million) in the full year 2012, compared with 622 million yuan in 2011, the company told Shenzhen Stock Exchange on April 3.