BEIJING, April 30, 2012 /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, barite, zinc, copper, and other
nonferrous metals in China, today
commented on the changing dynamics of the global zinc
market.
Global demand for refined zinc grew 2.2% to 12.85 million metric
tons in 2011 and is forecasted by ILZSG (International Lead and
Zinc Study Group) to grow by 3.9% to 13.35 million tons in 2012. At
the same time, the global production of refined zinc increased 2.7%
to 13.16 million tons in 2011 and is projected to grow by 2.4% to
13.48 million tons in 2012. The surplus of refined zinc is expected
to decrease by more than 50% year-over-year to 135,000 tons in
2012.
Decline in the surplus has been attributed to the depletion of a
number of large mines over the next several years. Among the mines
to be shut down include: the world's largest zinc mine - Teck
Resources' Red Dog Mine (600,000 tons per year) in Alaska, the world's second largest zinc mine -
Minmetals' Century Mine (500,000 tons per year) in Australia, Xstrata Zinc's Brunswick Mine
(240,000 tons per year) in Canada,
Vedanta Resources Plc's Skorpion Mine (145,000 tons per year) in
Namibia and other large mines in
Canada, Ireland and Peru.
Meanwhile, global zinc mine production remains below refined
zinc output, with zinc mines forecast to grow by 4.8% to 13.37
million tons in 2012.
Ms. Xiaojing Yu, CEO of
China Shen Zhou, commented, "Data
and forecasts from industry authorities suggest that the global
zinc market is trending toward a more balanced demand and supply
relationship. An improving balance between the global demand and
supply is potentially positive for zinc price. Xingzhen has begun
processing the 20,000 tons of zinc ore which was accumulated during
the winter season. We are on track to bring our zinc production
back online and will continue to improve our operational
efficiency."
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, barite 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 and barite extraction and processing in the Wuchuan
County of Guizhou province
(c)fluorite and barite extraction and processing in the Yanhe
County of Guizhou province.(d)fluorite extraction and processing in
Jingde County, Anhui Province; (e) zinc/copper/lead processing in
Wulatehouqi of Inner Mongolia; and (f) 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:+86-186-6537-8749
min.liu@grayling.com
Shiwei Yin
Grayling
Tel:
+1-646-284-9474
shiwei.yin@grayling.com
SOURCE China Shen Zhou Mining & Resources, Inc.