Consequently, as the Caijiaying Mining is located in the Municipality of Zhangjiakou, explosives can no longer be acquired or delivered to the Caijiaying Mine. The current inventory of explosives has been exhausted, mining and haulage has decreased and processing and milling is expected to cease on Thursday, 22^nd September 2022. It is expected that full operations will recommence at the Caijiaying Mine on Tuesday 1^st November.

A plenum of the Chinese Communist Party is normally held in October of every year and, as such, the Company plans and budgets for normal disruption to October production. However, this extended period of unavailability of explosives will inevitably have a significant impact on September and October results. Nevertheless, the Caijiaying Mine has increased production over the past quarter at accelerated rates to record levels unseen in the history of the Caijiaying Mine which may offset any prolonged risk to production due to the Congress. 

Additional measures in mine planning and resources have been taken to ensure that the record levels of production return quickly after the disruption has concluded with monthly production rates in the approximately 1.5 million tonne range, on an annualised basis, upon resumption. 

Chairman Mladen Ninkov commented, “It is an unfortunate consequence of the importance of this year’s Communist Party’s Congress that such strict security measures have been mandated by the Beijing Ministry of Public Security. Nevertheless, the extraordinary efforts of all concerned in reaching a 1.5 million tonne throughput recently, on an annualised basis, from just Zone III, will ensure that the production and financial impact to Griffin will be minimized to the greatest extent possible.”

About Griffin Mining Limited 

Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China  the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website giffinmining.com.

Further information

GRIFFIN MINING LIMITED
Mladen Ninkov – Chairman Telefon: +44(0)20 7629 7772
Roger Goodwin – Finance Director

PANMURE GORDON (UK) LIMITED Telefon: +44 (0)20 7886 2500
John Prior
Douglas McLeod
Alisa MacMaster

BERENBERG Telefon: +44(0)20 3207 7800
Matthew Armitt
Jennifer Wyllie
Deltir Elezi

BLYTHEWEIGH
Tim Blythe Telefon: +44(0)20 7138 3205

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014