Exhibit 7

Computation of Ratios for Fiscal Years ended December 31, 2010, 2011 and 2012

	2010		2011		2012
	CNY’000		CNY’000		CNY,000
Current assets (a)	176,475		255,733		347,255
Current liabilities (b)	328,461		585,046		1,097,879
Current ratio (c=a/b)	0.54x		0.44x		0.32x
Working capital (d=a-b)	(151,986	)	(329,313	)	(750,624	)
Short-term bank loans and current portion of long-term bank loans (e)	100,000		225,000		443,900
Mining rights payable – current (f)	19,192		22,612		25,568
Long-term bank loans (g)	318,742		523,742		569,630
Mining rights payable – non-current (h)	132,966		103,378		77,810
Total interest-bearing debt (i=e+f+g+h)	570,900		874,732		1,116,908
Total shareholders’ equity (j)	535,909		625,893		546,875
Total capital (k=i+j)	1,106,809		1,500,625		1,663,783
Ratio of interest-bearing debt to Total capital (l=i/k)	52%		58%		67%