Temporary Reduction in Throughput
Griffin Mining requested to reduce operational throughput by approximately 110,000 tonnes through December 2025 for Chinese safety initiative.
vs expectations: in line
- Projected throughput reduction approximately 110,000 tonnes
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Temporary Reduction in Throughput for the four months to the 31st December 2025
Griffin Mining Limited ("Griffin" or the "Company") announces today that the Company has been requested by the relevant County, City and Provincial Bureaus, in line with such requests to the majority of mining operations in China, to reduce operational throughput in support of a safety initiative that will run until the end of 2025. The current projection is a reduction in throughput of approximately only 110,000 tonnes over the four months from September to December 2025. Cooperation in this initiative is essential to obtaining the relevant permitting and commissioning of Zone II and continuing production from Zone III.
With the recent rises in gold and zinc prices, notwithstanding the reduction in throughput, the Company expects that its financial results for the full year to be in line with management expectations.
Chairman's Statement
Chairman Mladen Ninkov commented, "This temporary reduction in throughput is not expected to materially affect full year financial results, particularly if the current strength in commodity prices persists, but creates the necessary environment with the Chinese regulatory authorities to engender the appropriate respect as good operators in China to obtain the necessary approvals to take the Caijiaying Mine to the next level."
596/2014
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