China's second-largest gold miner, Zhaojin Mining Industry (1818), plans to invest about 1.94 billion yuan (HK$2.14 billion) this year to acquire mining rights and boost production capacity.

About 819 million yuan will be invested in 20 capacity-boosting infrastructure and technology reform projects, chairman Lu Dongshang said yesterday.

Lu expects the total gold output to rise by 6 percent to 660.3 ounces. The company reported an annual net profit of 376 million yuan for 2007, 30 percent more than the previous year excluding interest income.

Turnover rose 29.87 percent to 1.51 billion yuan, while earnings per share amounted to about 0.53 yuan. A cash dividend of 0.25 yuan with one bonus share was proposed.