-- Copper and Zinc Concentrates Maintain Good Production in Xinjiang -- BEIJING, Aug. 7
BEIJING, Aug. 7 /Xinhua-PRNewswire-FirstCall/ -- China Shen Zhou Mining &
Resources, Inc. (Amex: SHZ) ("China Shen Zhou", or "the Company"), a leading
company engaged in the exploration, development, mining and processing of
fluorite, zinc, lead, copper, and other nonferrous metals in China, today
announced one of its subsidiaries, Xingzhen Mining, in Xinjiang Uyghur
Autonomous Region, has signed one new supply contract for copper and zinc
concentrates with Weng Niu Te Qi Rui Peng Mining Company ("Rui Peng"), based
in Chifeng City, Inner Mongolia. The total value of this contract is
approximately $1.6 million (RMB 11 million).
Pursuant to the contract, the Company will ship zinc and copper
concentrates to Rui Peng from August 2008 until October 31, 2008.
"We are very pleased to sign this new supply contract, which shows our
strong mining and processing ability in nonferrous concentrates," said Ms.
Jessica Yu, Chairwoman and CEO of China Shen Zhou. "Our zinc and copper
manufacturing has been in good production since we successfully completed the
200,000-ton-capacity processing plant in April. We signed two supply contracts
in May and since then have been transporting nonferrous concentrates to our
clients smoothly. We will further enhance our mining and processing capacity
to satisfy clients' demands and we are committed to increasing our
profitability."
The new nonferrous metal concentrator at Xingzhen Mining was completed in
April 2008. It is located in Buerjiin County in northern Xinjiang, about three
miles from the Company's Keyinbulake nonferrous metal mine, which has a mining
license valid until August 2013. The Keyinbulake deposit is situated in one of
the most geologically rich regions of Xinjiang.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its subsidiary, American
Federal Mining Group ("AFMG"), is engaged in the exploration, development,
mining, and processing of fluorite 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) zinc/copper/lead exploration, mining and processing in
Wulatehouqi of Inner Mongolia; and (c) zinc/copper exploration, mining and
processing in Xinjiang. In addition, AFMG owns 100% of Kichi-Chaarat Closed
Joint Stock Company, whose major assets include a copper-gold mine located in
the Kuru-Tegerek region of western Kyrgyzstan.
For more information, please visit http://www.chinaszmg.com/
Safe Harbor Statement
Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements can be identified by the use
of forward-looking terminology such as "believe," "expect," "may," "will,"
"should," "project," "plan," "seek," "intend," or "anticipate" or the negative
thereof or comparable terminology. Such statements typically involve risks and
uncertainties and may include financial projections or information regarding
our future plans, objectives or performance. Actual results could differ
materially from the expectations reflected in such forward-looking statements
as a result of a variety of factors, including the risks associated with the
effect of changing economic conditions in the People's Republic of China,
variations in cash flow, fluctuation in mineral prices, risks associated with
exploration and mining operations, and the potential of securing additional
mineral resources, and other risk factors detailed in reports filed with the
Securities and Exchange Commission from time to time.
For more information, please contact:
In China:
Sterling Song
Senior Investor Relations Manager
China Shen Zhou Mining & Resources, Inc.
Tel: +86-10-6887-2811
Email: investor@chinaszky.com
Web: http://www.chinaszmg.com
In the U.S.:
David Elias
Investor Relations
DME Capital LLC
Tel: +1-516-967-0205
Email: dave@dmecapital.com
SOURCE China Shen Zhou Mining & Resources, Inc.
