China Shen Zhou Comments on Changing Dynamics of the Global Zinc Market
BEIJING, April 30, 2012
BEIJING, April 30, 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
commented on the changing dynamicsof the global zinc market.
Global demand for refined zinc grew 2.2% to 12.85 million metric tons in 2011
and is forecasted by ILZSG (International Lead and Zinc Study Group) to grow
by 3.9% to 13.35 million tons in 2012. At the same time, the global production
of refined zinc increased 2.7% to 13.16 million tons in 2011 and is projected
to grow by 2.4% to 13.48 million tons in 2012. The surplus of refined zinc is
expected to decrease by more than 50% year-over-year to 135,000 tons in 2012.
Decline in the surplus has been attributed to the depletion of a number of
large mines over the next several years. Among the mines to be shut down
include: the world's largest zinc mine - Teck Resources' Red Dog Mine (600,000
tons per year) in Alaska, the world's second largest zinc mine - Minmetals'
Century Mine (500,000 tons per year) in Australia, Xstrata Zinc's Brunswick
Mine (240,000 tons per year) in Canada, Vedanta Resources Plc's Skorpion Mine
(145,000 tons per year) in Namibia and other large mines in Canada, Ireland
Meanwhile, global zinc mine production remains below refined zinc output, with
zinc mines forecast to grow by 4.8% to 13.37 million tons in 2012.
Ms. Xiaojing Yu, CEO of China Shen Zhou, commented, "Data and forecasts from
industry authorities suggest that the global zinc market is trending toward a
more balanced demand and supply relationship. An improving balance between the
global demand and supply is potentially positive for zinc price. Xingzhen has
begun processing the 20,000 tons of zinc ore which was accumulated during the
winter season. We are on track to bring our zinc production back online and
will continue to improve our operational efficiency."
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)
SOURCE China Shen Zhou Mining & Resources, Inc.
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