BEIJING, March 31, 2011 /PRNewswire-Asia-FirstCall/ --
China Shen Zhou Mining & Resources, Inc. (“China Shen Zhou”, or
the “Company”) (NYSE Amex: SHZ), a company engaged in the
exploration, development, mining and processing of fluorite, zinc,
lead, copper, and other nonferrous metals in China, today announced
that its subsidiary, Xinyi Fluorite Company Ltd. (“Xinyi”), held a
grand ceremony at the Zi Yi Shan Hotel in Jingde County,
Anhui Province, on March 28, 2011 to celebrate the initial
commercial production at the Sanxi Old Town flotation plant.
Xiaojing Yu, CEO of China's Shen
Zhou Mining Resources Co., Ltd., attended the ribbon-cutting
ceremony together with Guangyong
Zhang, the Jingde county magistrate and the deputy secretary
of the county, Guanqi Fang, Chairman of the Jinde County Council,
Zheng Liu, deputy director of the
county’s congress, Fulin Jiang,
general secretary of the China Non-metallic Minerals Industry
Association Fluorite Committee (CNMIAFC) and Liancheng Li, the
general secretary of the National Inorganic Fluoride Collaborative
Group.
Xiaojing Yu, CEO of China Shen Zhou, commented: “Benefitting from
the excellent investment environment in Jingde County, Xinyi
upgraded its mines and processing plants to achieve its operational
targets. China Shen Zhou will
continue acquiring and combining high-quality resources within its
current focus on fluorite and non-ferrous metals. Acquiring Xinyi
was a good beginning to this acquisition strategy to achieve
further industry leadership.”
Fulin Jiang also commented:
“China Shen Zhou is a leading company in China’s fluorite industry
with rich investment and management experience. It was the right
decision at the right time for China Shen
Zhou to acquire Xinyi and to develop additional fluorite
resources. We are confident that Xinyi will achieve even more
brilliant achievements in the near future with the support of the
fluorite special committee and Jingde County.”
Xiangfu Jia, a director of Xinyi,
commented, “The Sanxi Old Town flotation plant formally started
production today. Xinyi expects to produce 35,000 metric tons of
fluorite powder in 2011 with estimated income to reach
approximately RMB 70 million, which
is consistent with management’s expectation at the time of
acquisition”.
About China Non-metallic Minerals Industry Association
Fluorite Committee (CNMIAFC)
CNMIAFC is one of the fifteen member committees of China
Non-metallic Minerals Industry Association. It was established in
1995 and it now has 120 members including a majority of China's
fluorite mining enterprises, significant downstream enterprises and
both academic and research institutions. Our subsidiary, Xiang Zhan
Mining Group, is the executive member of the Council of China
Non-metallic Minerals Industry Association Fluorite Committee.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its
subsidiaries, is engaged in the exploration, development, mining,
and processing of fluorite and nonferrous metals such as zinc, lead
and copper in China. The Company has the following principal areas
of interest in China: (a) fluorite extraction and processing in the
Sumochaganaobao region of Inner Mongolia; (b) zinc/copper/lead
exploration, mining and processing in Wulatehouqi of Inner
Mongolia; and (3) zinc/copper exploration, mining and processing in
Xinjiang. For more information, please visit
http://www.chinaszmg.com/
Safe Harbor Statement
Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements can be
identified by the use of forward-looking terminology such as
"believe," "expect," "may," "will," "should," "project," "plan,"
"seek," "intend," or "anticipate" or the negative thereof or
comparable terminology. Such statements typically involve risks and
uncertainties and may include financial projections or information
regarding our future plans, objectives or performance. Actual
results could differ materially from the expectations reflected in
such forward-looking statements as a result of a variety of
factors, including the risks associated with the effect of changing
economic conditions in the People's
Republic of China, variations in cash flow, fluctuation in
mineral prices, risks associated with exploration and mining
operations, and the potential of securing additional mineral
resources, and other risk factors detailed in reports filed with
the Securities and Exchange Commission from time to time.
For more information, please
contact:
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Kevin Theiss/Min Liu
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Investor Relations
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Grayling
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Tel:+1-646-284-9409
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Email:
kevin.theiss@grayling.com
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min.liu@grayling.com
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SOURCE China Shen Zhou Mining & Resources, Inc.