BEIJING, Nov. 23, 2011 /PRNewswire-Asia-FirstCall/ --
China Shen Zhou Mining & Resources, Inc. (NYSE AMEX: SHZ),
("China Shen Zhou" or the
"Company"), a Company engaged in the exploration, development,
mining and processing of fluorite, zinc, lead, copper, and other
nonferrous metals in China, today
shared industry updates from its subsidiary, Xiangzhen Mining's,
participation in the fifth Conference of China Non-metallic
Minerals Industry Association's Fluorite Committee Northwest
Liaison, which was held on November 19,
2011. Conference participants discussed the latest
fluorite industry news and the price trend of downstream fluorine
chemical and related products, as well as future development
trends.
The Fluorite industry developed rapidly in 2011, under the
guidance of the General Office of the State Council (SCS) (2010)
Document No. 1, a series of industrial policies were issued to
protect resources, eliminate the lagged production capacity. As a
result of these policies, fluorite prices have risen sharply,
investment in environmental security has increased, and resource
development has improved. In the meantime, however, higher
profitability from rising fluorite prices has resulted in the
emergence of illegal activities such as unlicensed mining and over
exploration, which are disrupting the healthy development of the
fluorite industry and are against national industrial policy.
Together with the restrictive fluorite export trading
environment and other related international fluorite political and
economic factors, it is expected that appropriate actions will be
taken to combat these illegal activities and ensure the successful
implementation of national industrial policy and the promotion of
healthy and orderly fluorite industry development.
Conference attendees agreed that effective resource integration
of industry leaders is necessary to eradicate illegal mining and
fundamentally improve management and control levels. Higher entry
standards will be implemented to encourage industry integration and
consolidation along with increased government support and
introduction of favorable policies. Conference attendees were
encouraged to stop the low price fluorite dumping and actively
promote the comprehensive development and utilization of the
fluorite resources.
Ms. Xiaojing Yu, CEO of
China Shen Zhou, commented, "As the
industry leader and China's only public fluorite exploration and
mining company with stock trading in the U.S., we expect to greatly
benefit from the government’s policies and resource
allocation.”
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) fluorite
extraction and processing in Jingde County, Anhui Province; (c) zinc/copper/lead
processing in Wulatehouqi of Inner Mongolia; and (d) zinc/copper
exploration, mining and processing in Xinjiang.
For more information, please visit http://www.chinaszmg.com/
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as "will", "believes",
"expects" or similar expressions. These forward-looking statements
may also include statements about our proposed discussions related
to our business or growth strategy, which is subject to change.
Such information is based upon expectations of our management that
were reasonable when made but may prove to be incorrect. All of
such assumptions are inherently subject to uncertainties and
contingencies beyond our control and upon assumptions with respect
to future business decisions, which are subject to change. We do
not undertake to update the forward-looking statements contained in
this press release. For a description of the risks and
uncertainties that may cause actual results to differ from the
forward-looking statements contained in this press release, see our
most recent Annual Report filed with the Securities and Exchange
Commission (SEC) on Form 10-K, and our subsequent SEC filings.
Copies of filings made with the SEC are available through the SEC's
electronic data gathering analysis retrieval system (EDGAR) at
http://www.sec.gov .
Contact Information
Min Liu
Investor Relations
Grayling
Tel: +1-646-284-9413
min.liu@grayling.com
SOURCE China Shen Zhou Mining & Resources, Inc.