Griffin Mining Limited ('Griffin' or the 'Company) is pleased to announce that the Company continues to strengthen its standing as a leader in the Chinese Green Mining initiative with the following now fully completed: The Caijiaying Mine operating on 100% renewable energy generated through solar and wind power, fully aligning the Company and it's operations with the Chinese national decarbonization goals.
The full implementation of industry-leading waste management practices achieving 100% tailings consumption underground via paste-fill at the current reduced production rate supporting the Chinese policy of zero waste residue and environmental footprint minimization.
The completion of Zone II construction at the Caijiaying Mine remains on schedule for the beginning of the 2nd quarter of 2026. Following completion, commissioning will commence immediately under the direct guidance and supervision of Chinese regulators to ensure a stable and 'zero safety incident' environment is observed. To ensure the most conservative standards are maintained in such a vital process for the Company's future, the Company is managing it's throughput during 2026 with the production rate for the first half of the year expected to remain at 750,000 tonnes per annum during the approval and commissioning processes, rising to 1,500,000 tonnes following the grant of the Safety Approval in the second half of the year. Despite an anticipated slight reduction in 2026 in budgeted ore production and a budgeted metal output, revenue is expected to remain stable resulting in an expected improvement to profit before tax, driven by the combination of lower operating costs and higher realized metal prices.
Chairman's Statement
Chairman Mladen Ninkov commented, 'By continuing to align our operations with the stringent safety and environmental requirements of the Chinese regulatory authorities and proactively supporting the zero political risk operating environment, the Company is securing the long-term viability of this world-class asset with the knowledge it will produce decades of stable, high-margin production for the future benefit of our shareholders. We look forward to the year ahead.'
Contact:
Mladen Ninkov
Tel: +44(0)20 7629 7772
Roger Goodwin
Tel: +44 (0)20 7886 2500
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