Sino-Platinum Metals wholly owned subsidiary Sino-Platinum Metals Resources Yimen Company has been fined 500,000 yuan by the Yimen County Emergency Management Bureau following a general explosion accident. The incident resulted in the death of one employee and direct economic losses of 1.396 million yuan. The investigation concluded that the company had deficiencies in implementing its risk classification and control mechanism, and was ineffective in identifying and addressing hidden hazards. Five responsible individuals were also penalized separately. The company stated that corrective measures have been taken and that the matter will not have a material adverse impact on its operations or financial condition.
Sino-Platinum Metals Co LtdSubsidiary fined 500,000 yuan after fatal explosion due to safety deficiencies.
Company fined for safety violations leading to explosion and death.
