BEIJING, July 25, 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 announced
that the Company's subsidiary, Wuchuan Dongsheng Mining Company
Ltd. ("Wuchuan Mining"), has formed a strategic partnership to
supply processed fluorite powder to Ningxia Jinhe Chemical Co.,
Ltd. ("Ningxia Jinhe"). Wuchuan Mining will supply Ningxia
Jinhe with no less than 30,000 tons of processed fluorite powder
annually.
Ningxia Jinhe is one of the largest dry process manufacturers of
aluminum fluoride (AlF3) and Anhydrous Hydrogen Fluoride (AHF) in
China with an annual production
capacity of 110,000 tons of aluminum fluoride and 24,000 tons of
AHF. Ningxia Jinhe's high-quality aluminum fluoride products meet
international standards.
Based in Zunyi City, Guizhou
Province, Wuchuan Mining is the largest fluorite mining
processing company in Southeast
China. Within the mine in Zunyi, there are also byproduct
deposits of barite. China Shen Zhou
acquired 60% of the equity interests of Wuchuan Dongsheng Mining in
January 2012.
Ms.Xiaojing Yu, Chairperson and
Chief Executive Officer of China Shen
Zhou, commented, "We are pleased with this strategic new
business win for our Wuchuan subsidiary. Ningxia Jinhe's
aluminum fluoride products have an excellent reputation in
China for high quality.
Securing such a reputable customer like Jinhe will provide an
ongoing stable supply channel for Wuchuan's fluorite products and
pave the way for further development of its barite resources.
Our long term plan is to expand Wuchuan's capabilities in the
highly profitable barite market, capitalizing on proprietary
processes already developed. As we continue to work with more
downstream fluoride manufacturers, we will establish Wuchuan as the
largest fluorite-barite deep processing center."
Barium sulfate precipitate is a nearly 100% pure barium sulfate
product resulting from a barite separation and purification
process. Barium sulfate precipitate is widely used in many
applications including paints and coatings, plastics, rubber,
fiber, and ink among others.
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.