August 2 -- Shandong Jinling Mining (000655), a producer of iron concentrate, copper powder, cobalt powder, and steel, posted a 29.89 percent year-on-year rise in first half 2011 net profit attributable to shareholders to 335 million yuan, reports yicai.com, citing a company filing.

Revenue increased 18.03 percent to 940 million yuan.

Output of iron concentrate hit 680,330 tons in the first half, an increase of 23,607 tons year-on-year, while sales of iron concentrate fell 8,594.62 tons year-on-year to 665,383.65 tons.

Jiling attributed the first half earnings growth to increased sales and higher product prices.

According to the China Iron and Steel Industry Association, the price of domestic iron concentrate increased 23.69 percent year-on-year to 1,248 yuan per ton through the end of June.

The company's parent, Shandong Jinling Iron Mine, was to have injected its 40 percent shareholding in Shandong Jinding Mining into the listed company by the end of 2010. It failed to do so by the stipulated timeframe, according to the filing.