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SHZ Comments on Changing Dynamics of the Global Zinc Market

BEIJING, April 30, 2012 /PRNewswire-Asia-FirstCall/ -- China Shen Zhou Mining & Resources, Inc. ("China Shen Zhou", or the "Company") (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 dynamics of 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 and Peru.

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."