BEIJING, November 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
