Exhibit 7

Computation of Ratios for Fiscal Year ended December 31, 2011, 2012 and 2013

	2011		2012		2013
	CNY’000		CNY’000		CNY’000
Current assets (a)	179,085		285,754		296,760
Current liabilities (b)	811,181		1,315,865		1,464,968
Current ratio (c=a/b)	0.22		0.22		0.20
Working capital (d=a-b)	(632,096	)	(1,030,111	)	(1,168,208	)
Short-term bank loans and current portion of long-term bank loans (e)	225,000		443,900		1,018,550
Mining rights payable – current (f)	22,612		25,568		38,876
Long-term bank loans (g)	510,886		569,630		889,504
Mining rights payable – non-current (h)	103,378		77,810		55,442
Total interest-bearing debt (i=e+f+g+h)	861,876		1,116,908		2,002,372
Total shareholders’ equity (j)	565,469		507,595		255,376
Total capital (k=i+j)	1,427,345		1,624,503		2,257,748
Ratio of interest-bearing debt to total capital (l=i/k)	60.38%		68.75%		88.69%