Zijin Mining fined $1.4m for July gold mine spill

Zijin Mining fined $1.4m for July gold mine spill

The company was fined for leaking acidic copper solution into the Ting River in Fujian province

Reuters

8 October 2010

HONG KONG - China's Zijin Mining said it has been fined 9.56 million yuan ($1.4 million) for leaking acidic copper solution into a local river near one of its gold mines in July.

The incident resulted in pollution of water in the Ting River in Fujian province and a direct economic loss of 31.9 million yuan, the company said in a filing to the Hong Kong stock exchange late on Thursday, citing a local investigation.

After the investigation by the local government, the company was ordered to clean up the pollution and was assessed for the fine, Zijin said.

"The company decided not to make an application for an administrative reconsideration and not to initiate administrative litigation, and to comply with the punishment imposed," it said in the statement.

Trading in Hong Kong-listed shares of Zijin, which had been suspended on Monday, was set to resume on Friday morning. (Reporting by Doug Young; Editing by Alex Richardson)