Shen Zhou Mining & Resources Shares Industry Updates From 5th Conference Of China Non-metallic Minerals Industry Association
BEIJING, Nov. 23, 2011 /PRNewswire-Asia-FirstCall/ -- China Shen Zhou Mining & Resources, Inc. (NYSE AMEX: SHZ), (" China Shen Zhou" or the "Company"), a Company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals in China, today shared industry updates from its subsidiary, Xiangzhen Mining's, participation in the fifth Conference of China Non-metallic Minerals Industry Association's Fluorite Committee Northwest Liaison, which was held on November 19, 2011. Conference participants discussed the latest fluorite industry news and the price trend of downstream fluorine chemical and related products, as well as future development trends.
The Fluorite industry developed rapidly in 2011, under the guidance of the General Office of the State Council (SCS) (2010) Document No. 1, a series of industrial policies were issued to protect resources, eliminate the lagged production capacity. As a result of these policies, fluorite prices have risen sharply, investment in environmental security has increased, and resource development has improved. In the meantime, however, higher profitability from rising fluorite prices has resulted in the emergence of illegal activities such as unlicensed mining and over exploration, which are disrupting the healthy development of the fluorite industry and are against national industrial policy. Together with the restrictive fluorite export trading environment and other related international fluorite political and economic factors, it is expected that appropriate actions will be taken to combat these illegal activities and ensure the successful implementation of national industrial policy and the promotion of healthy and orderly fluorite industry development.
Conference attendees agreed that effective resource integration of industry leaders is necessary to eradicate illegal mining and fundamentally improve management and control levels. Higher entry standards will be implemented to encourage industry integration and consolidation along with increased government support and introduction of favorable policies. Conference attendees were encouraged to stop the low price fluorite dumping and actively promote the comprehensive development and utilization of the fluorite resources.
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