China Shen Zhou Provides Updates on Keyinbulake Mine and Nonferrous Metals Business
BEIJING, May 14, 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 Keyinbulake Mine of Xingzhen, a subsidiary of China Shen Zhou located in Buerjin County, Aletai District, Xinjiang Uygur Autonomous Region, has received positive feedback on the production of non-ferrous metals.
China Shen Zhou made positive progress after a few years exploring and prospecting the Keyinbulake Mine. Starting in the second quarter of 2012, the Keyinbulake Mine begins to process high-grade zinc ores and high-grade copper ores instead of only low-grade zinc ore as before.
Ms. Xiaojing Yu, the Chairwoman and CEO of China Shen Zhou, commented, "In recent years, our non-ferrous metals business has not kept up with our fluorite business in terms of financial performances. With Xingzhen beginning to process higher-priced and higher-margined zinc and copper ores, I am optimistic that our non-ferrous metals business is turning for the better and could become profitable for the year."
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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