BEIJING, Dec. 14, 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 announced that Xiangzhen Mining
Co., Ltd., a subsidiary of China Shen
Zhou located in Inner Mongolia, has reported record fluorite
sales for the fourth quarter of 2011.
China Shen Zhou's Xiangzhen
subsidiary expected the fourth quarter sales volume of fluorite
powder to approximate 27,000 metric tons, up 217% from
the 8,527 metric tons sold in the third quarter of 2011, and
33% higher than the 20,247 metric tons sold in the same period last
year. The sales volume of fluorite lump was expected to
approximate 23,000 metric tons in the fourth quarter of 2011, up
34% from the 17,135 metric tons sold in the previous quarter, and
85% higher than the 12,451 metric tons sold in the same period last
year. Total sales of fluorite powder and fluorite lump for the
first nine months of 2011 were 25,286.75 metric tons and 28,299.41
metric tons respectively.
The increase in fourth quarter sales was largely driven by
growth in downstream manufacturers and advanced inventory purchases
in anticipation of higher fluorite prices in 2012, as well as
improvement in rail transportation capacity in the fourth quarter
following a shortage of transportation in the Mongolian region
during the third quarter.
Ms. Xiaojing Yu, CEO of
China Shen Zhou, commented, "We are
extremely pleased by the record fluorite sales reported by our
Xiangzhen subsidiary. We are very optimistic about the future of
our fluorite sector and these results increase our confidence in
the ongoing growth of this market segment."
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.