Griffin Mining on schedule with commissioning at Caijiaying

(Sharecast News) - Griffin Mining said on Wednesday that commissioning of ore extraction from zone two at its Caijiaying mine in China remained on schedule, and was expected to start in the first quarter of 2026.

The AIM-traded company reiterated that production and financial performance would continue to be affected until the end of the year as it complied with government-imposed safety measures, including restrictions on explosives supply, but noted that development work was unaffected.

It said there had been no disruption to explosives used for development activities and that it remained on track to secure full safety facility approval required for commissioning early next year.

Griffin added that its support for regulatory initiatives had strengthened relations with authorities at county, city and provincial levels.

Chairman Mladen Ninkov said the expansion marked a significant milestone for the business.

"The company looks forward to the next chapter in its 20 year operating history with the commissioning of zone two in the near future and all the benefits that orebody is expected to deliver," he said.

He added that "it is the company's continuing support of the safety initiatives by the Chinese regulatory authorities that engenders the goodwill towards Griffin, as good citizens of China, to obtain the necessary approvals to take the Caijiaying Mine to the next level."

At 1216 GMT, shares in Griffin Mining were down 0.01% at 219.98p.

Reporting by Josh White for Sharecast.com.