Feb. 21, 2012
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
, 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
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
. 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.
, 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
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
. The Company has the following principal areas of interest in
: (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.
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SOURCE China Shen Zhou Mining & Resources, Inc.