Business
Issue of New Mining Licence
Issue of New Mining Licence.
About this update from Griffin Mining Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 3448K\n Griffin Mining Ld\n 04 January 2021\n \n \n \n \n \n \n \n \n 8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom\n \n \n Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773\n \n \n \n E mail: \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n Issue of New Mining Licence\n \n \n \n \n \n New Mining Licence Covering Both New Zone II & Existing Zone III\n \n \n \n \n \n \n \n \n 4th January 2021\n \n \n \n \n \n \n Griffin Mining Limited (\"Griffin\" or the \"Company\") is \n \n \n delighted\n \n \n to announce that the new Mining License (\"ML\") covering both \n \n \n the \n \n \n Zone II and Zone III areas has finally been approved \n \n \n and issued \n \n \n by the Chinese Ministry of Land and \n \n \n Natural \n \n \n Resources. \n \n \n \n \n The magnitude of the accomplishment cannot be diminished. \n \n \n This major milestone was finally rea\n \n \n ched\n \n \n after 8 years of lengthy and arduous document preparation\n \n \n and written submissions\n \n \n which \n \n \n continually needed to \n \n \n accommodate a \n \n \n significant \n \n \n number of legislative\n \n \n and \n \n \n regulatory changes \n \n \n throughout \n \n \n that time.\n \n \n The directors, senior management, staff and contractors, and the numerous officials at every level of government concerned, need to be recognized and congratulated on their extraordinary efforts to achieve this momentous result.\n \n \n \n \n The new mining licence will allow the mining of significant additional resources. The \n \n granting of the 3rd Stage Zone III Project Final Acceptance Permit will increase the annual mined ore from Zone III to from 820,000 tonnes in 2020 to 1.1 million tonnes in 2021, but with the increased ore accessed from Zone II, this will increase to over 1.5 million tonnes per annum in 2022, increasing as more capital development is completed. No additional capital is required for any above ground processing facilities which were upgraded and completed some time ago whilst waiting for the new ML. The Company remains debt free.\n \n \n \n \n \n \n Chairman Mladen Ninkov said \"\n \n \n After 8 long and frustrating years and the difficulties experienced during the Covid-19 pan...