China Shen Zhou Mining & Resources Up 6% In Pre-Market

China Shen Zhou Mining & Resources Inc. SHZ shares are gapping up in pre-market trading, gaining 25 cents to $4.44, a gain of almost 6%. This comes on the back of news that the Chinese Ministry of Land and Natural Resources is reducing its 2011 Fluorite Ore production quota to 10 million tons. Ms. Xiaojing Yu, Chief Executive Officer of China Shen Zhou, commented, "As a result of the Chinese government's 2011 limitation production plan, the price of fluorite will continue to increase and the fluorite industry entry bar will be raised as well. China Shen Zhou, the biggest fluorite producer in Northern China, will benefit from such price increase related to the favorable government policies protecting the country's valuable fluorite resources." China Shen Zhou Mining & Resources, Inc., through its subsidiaries, engages in exploring, developing, mining, processing, and distributing fluorite ore, zinc, copper, lead, and other nonferrous metals.