Luoping Zinc & Electricity Mulls Changes, Refund Over Puding County Mines After 20 Million Yuan Fine

MT Newswires Live12-17

Yunnan Luoping Zinc & Electricity (SHE:002114) may apply a refund or make adjustments to its activities in two mines in Puding County, Guizhou Province, China, after being slapped with a fine amounting to 20.2 million yuan for suspected cross-boundary mining activities, according to a Shenzhen bourse filing disclosure on Wednesday.

The matter involved the sandstone lead-zinc mine and Yuhe lead-zinc mine, which are held by the company's subsidiary, Puding County Hongtai Mining.

Puding County's authorities revoked their penalty decision against Hongtai Mining after paying the penalties.

The Chinese hydroelectric power generation company's shares jumped 3% at the close.

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