China's Zijin fined 9.56m yuan for water pollution
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China's leading gold producer Zijin Mining Co, said Thursday it had received punishment decisions from Fujian provincial authorities, including a fine of 9.56 million yuan (about $1.43 million) for severe water pollution caused by its subsidiary copper plant.
The copper plant, whose waste water leak killed large quantities of fish in a local river in Fujian province, was also asked to implement rectification measures and clear up pollution, said Zijin, a listed company in Hong Kong, in a statement filed to the Hong Kong Stock Exchange.
Receiving the decisions sent on September 30 from Fujian's provincial department of environmental protection, Zijin said it would "comply with the punishment" in a timely manner.
Two leakages of acidic copper solution at the Zijinshan Gold and Copper Mine copper plant, occurring on July 3 and July 16 respectively, resulted in material water pollution of the Ting River, causing a direct economic loss of more than 31 million yuan.
The follow-up investigation showed that the leakage was due to poor maintenance of the membrane of the plant's tanks, including a sewage one.
Zijin's H-share trading has been suspended from Monday, with its share closing at 6.6 HK dollars on its last trading day.
The company has applied to resume its trading from Friday.
