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Sino Mining Ltd. Has No Current Plans To Develop Mine Asset In Tibet

[Mineral Policy Institute. February 5, 2001.]

Monday 5 February 2001


Representatives of the Australia Tibet Council and the Mineral Policy Institute met with senior management of Sino Mining Ltd on Friday over concerns about Sino Mining Ltd's operations in Tibet.

At the meeting, Nicholas Curtis, Executive Chairman of Sino Mining Ltd indicated that Sino Mining Ltd had completed its Phase One exploratory drilling program at the Tanjianshan site in the Tsaidam Basin. At this stage, the estimated mineralisation of the site indicated that the project would not be sufficiently profitable at this time to warrant further exploration or development.

"We are pleased to have had the opportunity to meet with Sino Mining Ltd's senior management and to have received their confirmation that neither this mine nor any other projects in Tibet are currently being developed.", said Ms Jo Shaw, President of the Australia Tibet Council.

"Tibet is an occupied territory and any infrastructure or resource development in that territory will require close attention to unique challenges in the areas of human rights and environmental sustainability.", added Ms Shaw.

"Our initial concern was that Sino Mining Ltd's operations in Tibet may impact negatively on Tibetan people and their environment. China's record on human rights in Tibet is deplorable and Western corporations that aren't careful as they engage in development activities in Tibetan areas may render themselves complicit in human rights violations.", concluded Ms Shaw.

ATC remains concerned about the potential impact of China's plans for increased economic exploitation of Tibet. Our understanding is that a number of Australian miners, including Sino Mining Ltd, have jointly funded a mineral mapping exercise across all of Tibet. ATC will continue to monitor the activities of Australian corporations that show an interest in investing in Tibet.

Mineral Policy Institute is an Australian-based organisation that monitors the human rights, social and environmental impact of mining in the Asia-Pacific.

For further information and comment contact:

Ms Jo Shaw, President; +61 (0)413 547 565

Mr Paul Bourke, Executive Officer; +61 (0)419 420 526

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