13th Aug 2014 12:15
LONDON (Alliance News) - Griffin Mining Ltd Wednesday said the processing of ore from its Caijiaying mine in China has been suspended for two months, as scheduled, while the firm upgrades crushing and milling equipment at the site.
Mining and haulage of ore will continue during the suspension period and will be stockpiled to be processed once the expansion of the processing facilities is completed, said the company.
The group expects to complete the processing of the stockpiled ore by the end of the year and expects annual zinc metal production volumes to fall in line with 2013 levels.
Griffin also briefly said that administrative state issues in China continue to cause delays to the granting of a new mining licence for the unmined Zone 2 and ancillary areas at Caijiaying. It expects the licence to be issued later this year.
Griffin shares were down 0.3% to 37.5 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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