BEIJING, February 21, 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 three processing flotation plants it acquired early this year are on track to begin production in the first quarter of 2012.
In January and February of 2012, China Shen Zhou acquired, through its subsidiary, Xiangzhen Mining Ltd. ("Xiangzhen"), 60% ownership respectively, in Wuchuan Dongsheng Mining Company Ltd., ("Wuchuan Mining"), and Qianshi Resources Development Company Ltd. ("Qianshi Resources"), both located in the Wuling mountain area in Guizhou Province.
The fluorite processing flotation plant in Duru town and the fluorite-barite processing flotation plant in Fenshui town, originally owed by Wuchuan Mining, have passed all necessary inspections and is ready to start production on February 22nd. The Duru town plant's expected monthly production of fluorite powder is 2,000 metric tons. The Fenshui town plant's expected monthly production of fluorite powder and barite powder is 1,500 metric tons each initially, and the production capacity will be improved after the trial production period.
The Huangtu processing flotation plant, originally owed by Qianshi Resources, is on schedule to start production in early March with an expected monthly production of 1,000 metric tons of the fluorite powder.
Ms. Xiaojing Yu, Chief Executive Officer of China Shen Zhou, commented, "The rapid transition to production of these plants is highly encouraging and reassures us that these facilities have the capabilities to deliver on our expectations. Our strategy is to leverage the fluorite-barite ore separation and processing technology of the plants to further develop the Wuling Mountains fluorite-barite resources and create a barite mining processing chain. Eventually, our goal is to establish the largest fluorite-barite deep processing center in China."
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 Gui Zhou province (c)fluorite and barite extraction and processing in the Yanhe County of Gui Zhou 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: +1-646-284-9413
min.liu@grayling.com
