China Shen Zhou Subsidiary Xinyi Fluorite Company Announces Successful Implementation of Security Systems and Production Safety Standards
- On Track to Resume Production in March -
BEIJING, Feb. 23, 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 its subsidiary, Xinyi Fluorite Company, Ltd. ("Xinyi"), based in Jingde County, Anhui Province, has successfully implemented the security systems and production safety standards required by the State Council.
In January of 2011, China Shen Zhou acquired, through its subsidiary Xingzhen Mining Ltd., 55% ownership in Xinyi Fluorite Company. Since the acquisition, Xinyi has undergone implementation of the six security systems and production safety standards required by the State Council. The security systems included special monitoring and controls, an underground personnel positioning system, an emergency refuge system, an emergency compressed air supply system, an emergency water supply system, and underground communications.
These six security systems and accompanying production safety standards have now passed inspection. The Xinyi processing floatation plant is on track to resume production on March 1, 2012, following the Spring Festival holiday break.
Ms. Xiaojing Yu, Chief Executive Officer of China Shen Zhou, commented, "In addition to utilizing the mandated security systems and safety production standards, China Shen Zhou is dedicated to enhancing overall safety and supervision of the Xinyi production site. These measures will include additional training for underground personnel to improve their ability to escape from potential accidents and protect themselves from other injury."
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.
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