Griffin Mining maintains production despite forced shutdown
Griffin Mining announced its production results for the September quarter on Monday, with the results achieved despite the enforced suspension in operations at the Caijiaying Mine from 23 September due to the Chinese Communist Party's 20th Congress.
The AIM-traded firm said mining and processing were maintained at the equivalent annualised rate of over 1.3 million tonnes.
All of that was extracted from zone III up until the suspension of operations from 23 September.
The company said the relevant authorities in China had advised that operations at Caijiaying could resume on 26 October.
It said it expected operations would commence on 1 November, once government restrictions were fully eased and explosives received.0
“Despite being suspended for a quarter of the month of September, the Caijiaying Mine continues to show its resilience and produce excellent results when extrapolated on an annualised basis,” said chairman Mladen Ninkov.
“We all look forward to the restart of operations and a clear run of production through the remainder of 2022 and 2023.”
At 1023 BST, shares in Griffin Mining were up 2.44% at 80.93p.
Reporting by Josh White at Sharecast.com.