Government orders Zijin to restrict production

Zijin Mining Group (601899.SH, 2899.HK) has been ordered by the government to restrict production, Reuters reported, citing Shanghai Securities Journal. The company’s shares were suspended from trading pending the official announcement. Zijin, China’s largest gold producer, has faced intense criticism after a waste leak at its copper smelting facilities in Fujian province seeped into the nearby Ting River, contaminating about 1,890 metric tons of fish. The firm did not divulge details of the spill until state media reported the incident nine days after it began on July 3. State media also accused the firm on Tuesday of giving a journalist at the New Finance Economics magazine a US$8,851 bribe to suppress the story. The magazine responded that the payment is legitimate advertising revenue.