The conference concluded that both the domestic and foreign downstream fluorite enterprises are experiencing normal production with stable fluorite demand. The European debt crisis has had little effect on the Chinese fluorine chemical industry. Downstream manufactures are exhausting their inventories requiring new orders to be placed soon. Therefore, China Shen Zhou is very optimistic on the fluorite market for the next couple of quarters.
In addition, challenges were also discussed during this conference:
1. To prevent illegal mining and over exploitation of fluorite ore are the main problems. The fluorite ore explored last year exceeded the targeted 10 million metric tons production limit, which disrupted the fluorite market. The Chinese government will introduce some appropriate policies to combat the illegal mining and over exploitation currently affecting the industry.
2. To avoid excessive fluorite exports, domestic fluorite prices need to be maintained at a reasonably high price as the fluorite tariffs will be gradually reduced by 2013. The new industry entry standards were issued to encourage industry integration and consolidation, raising the entry bar for fluorite manufacturers, therefore reducing supply and protecting the resources.
3. It is very likely that the government will soon appoint 30 fluorite industry leading firms and issue favorable policies towards such enterprises.
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 and nonferrous metals such as zinc, lead and copper in
. The Company has the following principal areas of interest in
: (a) fluorite extraction and processing in the Sumochaganaobao region of Inner Mongolia; (b) fluorite extraction and processing in Jingde County,
; (c)zinc/copper/lead exploration, mining and processing in Wulatehouqi of Inner Mongolia; and (d) zinc/copper exploration, mining and processing in Xinjiang.
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SOURCE China Shen Zhou Mining & Resources, Inc.