BEIJING, Nov. 8, 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 the Chinese fluorite annual conference was held by China
Non-metallic Minerals Industry Association Fluorite Committee at
Xiamen between October 31, 2011 and November 2, 2011. The conclusion was that
fluorite production and demand are in balance for the Chinese
domestic fluorite and foreign downstream fluorite enterprises.
The officials from China National Development and Reform
Commission, China Ministry of Industry and Information Technology,
China Ministry of Land and Resources, and China Ministry of
Commerce, together with a total of more than 200 domestic and
foreign enterprises attended the conference.
The conference concluded that both the domestic and foreign
downstream fluorite enterprises are experiencing normal production
with stable fluorite demand. The European debt crisis has had
little effect on the Chinese fluorine chemical industry.
Downstream manufactures are exhausting their inventories
requiring new orders to be placed soon. Therefore, China Shen Zhou is very optimistic on the
fluorite market for the next couple of quarters.
In addition, challenges were also discussed during this
conference:
1. To prevent over exploitation is the main problem. An
estimated 15 million tons of ore were explored this year, well
exceeding the targeted 10 million metric tons production limit,
which seriously disrupted the market.
2. To avoid excessive fluorite exports, domestic fluorite prices
need to be maintained at a reasonably high price as the fluorite
tariffs will be gradually reduced by 2013. The new industry entry
standards were issued to encourage industry integration and
consolidation, raising the entry bar for fluorite manufacturers,
therefore reducing supply and protecting the resources.
3. It is very likely that the government will soon appoint 30
fluorite industry leading firms and issue favorable policies
towards such enterprises.
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
exploration, mining and 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.