China Kings Resources Suspends Zhejiang Mine Operations
China Kings Resources (SHA:603505) suspended operations at its fluorite mines in Zhejiang, China following regulatory requirements for strict, mine-by-mine safety inspections.Subsidiary Dajinzhuang Mining received a formal order to rectify hazards by June 15, with production halted until approval, according to a weekend filing with the Shanghai bourse. Other Zhejiang mines, including Changshan Jinshi and Longquan Fluorspar, are conducting self-inspections awaiting re-approval.The suspension affects about 30,000 tons of monthly fluorite production, with 2026 target of 400,000 tons to 450,000 tons likely to be impacted.China Kings Resources will use inventory and subsidiaries outside Zhejiang to mitigate short-term effects.Shares of the company closed 3% higher Monday.
