Commodities supplier Noble Group Ltd., which is part-owned by China Investment Corp., confirmed 2009 Q1 profit increase of 28 percent for coal, iron ore, and aluminum owing  to the country’s economic recovery.

The press release is quoted as saying:

Net income increased to $115 million, or 2.86 cents a share, for the three months ended March 31, from $90.2 million, or 2.77 cents, a year earlier, Hong Kong-based Noble said in a statement to the Singapore Exchange. Sales surged 87 percent to a quarterly record of $11.4 billion.

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