It is warned from Chen Jinghe, president of China’s largest gold producer Zijin Mining Group, that the prices of mineral products, particularly nonferrous metals in China have surged to high levels and there isn’t much room for them to go up further. Zinjin Mining Group is the parent company of Zijin Mining.

“Unless the US dollar depreciates significantly, there won’t be much room for mineral prices to rise further,” Chen said, advising prudent attitude towards the current rising prices of nonferrous metals.

Zijin Mining made profit of about 400 million yuan in the first half year thanks to surging prices of mineral products on the international market. The company is estimated to earn 10 percent more profit in 2009 than last year.