Zijin Gold Mine, A Wholly Owned Subsidiary Of Zijin Mining Company, Has Encountered Mud Rock Flow.
Zijin
Mining announced on Monday night that about 10 a.m. on September 21st, the company's wholly-owned subsidiary letter
Yi purple
The dam of the gold silver rock tin mine tailings dam is blown up by mud rock flow.
Announcement shows purple gold
mining
Guangdong Zijin Mining tin mine, a wholly owned subsidiary of Zijin Mining Co., Xinyi, is affected by the heavy rain caused by Typhoon No. 11. The dam of the Yinyan tin mine tailings dam was washed away by a mudslide caused by a torrential rain at 10 a.m. on 2010, 21, 2010.
At present, the power supply, communication and pportation of mining areas are all interrupted.
Zijin Mining said that after the accident, the leaders of Xinyi immediately rushed to the scene to direct the rescue work. The group and Xinyi Zijin started the emergency rescue mechanism, and the group's vice president in charge of safety and environmental protection went to the mining area to assist in the rescue work.
Due to the interruption of communication in the mining area, the company has not been able to fully understand the accident in time, and has not received any reports of casualties and losses.
Zijin Mining said, silver rock tin mine is currently in the trial production stage, the tailings reservoir is in the initial stage of operation, the impact of this accident on Zijin of Xinyi is not yet evaluated, and the company will make a timely announcement according to the follow-up understanding.
Changjiang Securities estimated that Zijin Mining in 2010 and 2011 EPS were 0.35 yuan and 0.44 yuan respectively, taking into consideration the future growth of the company, the impact of environmental incidents, the future growth of production, and the situation of small non lifting of the ban, giving the company a "prudent recommendation" rating.
As of September 21st closing, Zijin Mining A shares reported 6.26 yuan, down 0.63%; H shares were HK $5.97, unchanged from the previous trading day.
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