BEIJING, July 25, 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 Company's subsidiary, Wuchuan Dongsheng Mining Company Ltd. ("Wuchuan Mining"), has formed a strategic partnership to supply processed fluorite powder to Ningxia Jinhe Chemical Co., Ltd. ("Ningxia Jinhe"). Wuchuan Mining will supply Ningxia Jinhe with no less than 30,000 tons of processed fluorite powder annually.
Ningxia Jinhe is one of the largest dry process manufacturers of aluminum fluoride (AlF3) and Anhydrous Hydrogen Fluoride (AHF) in China with an annual production capacity of 110,000 tons of aluminum fluoride and 24,000 tons of AHF. Ningxia Jinhe's high-quality aluminum fluoride products meet international standards.
Based in Zunyi City, Guizhou Province, Wuchuan Mining is the largest fluorite mining processing company in Southeast China. Within the mine in Zunyi, there are also byproduct deposits of barite. China Shen Zhou acquired 60% of the equity interests of Wuchuan Dongsheng Mining in January 2012.
Ms.Xiaojing Yu, Chairperson and Chief Executive Officer of China Shen Zhou, commented, "We are pleased with this strategic new business win for our Wuchuan subsidiary. Ningxia Jinhe's aluminum fluoride products have an excellent reputation in China for high quality. Securing such a reputable customer like Jinhe will provide an ongoing stable supply channel for Wuchuan's fluorite products and pave the way for further development of its barite resources. Our long term plan is to expand Wuchuan's capabilities in the highly profitable barite market, capitalizing on proprietary processes already developed. As we continue to work with more downstream fluoride manufacturers, we will establish Wuchuan as the largest fluorite-barite deep processing center."
Barium sulfate precipitate is a nearly 100% pure barium sulfate product resulting from a barite separation and purification process. Barium sulfate precipitate is widely used in many applications including paints and coatings, plastics, rubber, fiber, and ink among others.
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.
SOURCE China Shen Zhou Mining & Resources, Inc.