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Zijin shares suspended
By Wang Xiang |
July 26, 2010, Monday
|
Online Edition
Online Edition
TRADING in shares of Zijin Mining Group Co, China's largest gold company, was suspended today, amid allegations that it offered hush money to reporters after a sewage leak killed thousands of tons of fish.
The company did not say why trading was halted in both Hong Kong and Shanghai but said there will be a price-sensitive announcement later.
China Youth Daily reported today that the company had offered hush money to at least six newspapers after the spill. An unnamed finance news magazine said it had been given 60,000 yuan (US$8,850) by Zijin before the scandal was exposed and had returned the money.
The Zijin leak took place on July 3, and the company waited nine days to reveal the spill. The securities regulator was probing the company for the delay in disclosing the incident.
The company was ordered to shut down its Zijinshan copper plant in Fujian's Shanghang County on July 13 after 9,100 cubic meters of acidic waste water spilled from one of its tailings ponds, polluted the Tingjiang River and killed 1.9 million kilograms of fish.
The company did not say why trading was halted in both Hong Kong and Shanghai but said there will be a price-sensitive announcement later.
China Youth Daily reported today that the company had offered hush money to at least six newspapers after the spill. An unnamed finance news magazine said it had been given 60,000 yuan (US$8,850) by Zijin before the scandal was exposed and had returned the money.
The Zijin leak took place on July 3, and the company waited nine days to reveal the spill. The securities regulator was probing the company for the delay in disclosing the incident.
The company was ordered to shut down its Zijinshan copper plant in Fujian's Shanghang County on July 13 after 9,100 cubic meters of acidic waste water spilled from one of its tailings ponds, polluted the Tingjiang River and killed 1.9 million kilograms of fish.
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