- 200K-metric Ton Annual Designed Capacity -
- Grand Ribbon-Cutting Ceremony to be Held April 29 -
- Company Expanding Nonferrous Metal Explorations in Xinjiang -
BEIJING, April 24 /Xinhua-PRNewswire-FirstCall/ -- China Shen Zhou Mining & Resources, Inc. (Amex: SHZ) ("China Shen Zhou", or "the Company"), a leading company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals in China, today announced the completion of its construction of a new nonferrous metal concentrator in northern Xinjiang Uyghur Autonomous Region. A grand ribbon-cutting ceremony to inaugurate the new plant will be held on April 29, 2008, with commercial production ensuing immediately.
The all-new nonferrous metal concentrator will process copper, zinc and lead ores and turn them into metal ingots and has an annual designed production capacity of 200,000 metric tons. The facility is located in Buerjiin County in northern Xinjiang, about 3 miles from the Company’s Keyinbulake nonferrous-metal mine, which has a government mining license valid until August 2013. The Keyinbulake deposit is situated in one of the most geologically rich regions of Xinjiang.
"I am extremely pleased to see the new concentrator launch its commercial production," said Ms. Jessica Yu, Chairwoman and CEO of China Shen Zhou. "We expect this new plant to serve as a major revenue contributor this year like our fluorite plant in Inner Mongolia. The nonferrous mine in Xinjiang contains high-grade copper and zinc resources and we are already enhancing our exploration activity and aim to increase our mineral resources."
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its subsidiary, American Federal Mining Group ("AFMG"), 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 exploration and extraction in the Sumochaganaobao region of Inner Mongolia; (b) zinc/copper/lead exploration, mining and processing in Wulatehouqi of Inner Mongolia; and (c) zinc/copper exploration, mining and processing in Xinjiang. In addition, AFMG owns 100% of Kichi-Chaarat Closed Joint Stock Company, whose major assets include a copper-gold mine located in the Kuru-Tegerek region of western Kyrgyzstan.
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:
In China:
Sterling Song
Senior Investor Relations Manager
China Shen Zhou Mining & Resources, Inc.
Tel: +86-10-6887-2811
Email: investor@chinaszky.com
Web: http://www.chinaszmg.com
In the U.S.:
Valentine Ding
Investor Relations
The Global Consulting Group
Tel: +1-646-284-9412
Email: vding@hfgcg.com
