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Griffin Mining eyes production boost at Caijiaying mine after receiving permit from Chinese regulator
StockMarketWire.com
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Mining company Griffin Mining said it expected to increase production by 27% at its Caijiaying mine in China after the company secured the third-stage zone three project final acceptance permit from the Chinese Safety Bureau.
This significant milestone extends the underground mineable ore zone at the Caijiaying mine from the current 1175mRL down to the 1000mRL, enabling the underground operations in zone three to profitably extract 1.1 million tonnes of Zinc-Gold ore per annum beginning 2021 compared to the 820,000 tonnes of ore expected to be mined in 2020, the company said.
This represented a 27% increase in mineable ore production per annum, it added.
'We now await the granting of the new Zone II mining licence to increase the production profile even further and fulfil the promise recognized by the shareholders by the Company's initial discovery at Caijiaying.'
At 9:06am: (LON:GFM) Griffin Mining share price was 0p at 75p
Story provided by StockMarketWire.com
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