OREANDA-NEWS. September 26, 2013. In order to have a better understanding of the mineral reserves, production and construction as well as business management of mining enterprises, independent directors Zou Qiao, Zhong Ruiming and Duan Yongkuan, as arranged by the Board of Directors of Sinosteel, went to Chifeng and Xilinhot for investigation of affiliated enterprises.

The group went to the open mines, debris disposal areas, ore breaking plants, dressing workshops, tailing ponds, and ore sorting workshops of Sinosteel Chifeng Mining Co. and Sinosteel Xilinhot Fluorite Co. for field investigations, and listened to the work reports of the two companies on molybdenum and fluorite resource exploitation, market outlook, current business situation, budget performances and measures to be taken for the second half of the year to guarantee the accomplishment of the budget targets of the whole year, risk control, safe production, and so on.

The independent directors have praised Sinosteel Chifeng Mining Co. for the plenty of work done to overcome business difficulties and enhance site management, and Sinosteel Xilinhot Fluorite Co. for its efforts in strengthening business management and vigorously promoting production and business operation as well as the achievements made in market promotion. And they have discussed about and provided constructive comments and suggestions on the future directions of the enterprises, product situations in the market, environmental protection and so on.

The independent directors expressed their wishes that the two enterprises will follow the overall development plan at the beginning of the year, carry on with the prudent operation, prevent risks, create benefits, and make further contributions to Sinosteel’s objective of “reform and development, reduction of losses and increase of profits” under the leadership of the Sinosteel Mining.