REG - Griffin Mining Ltd - Caijiaying Mine Achieves 100% Renewable Energy Use

Griffin MiningAnnouncement

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RNS Number : 8867V  Griffin Mining Limited  10 March 2026

 

 

8(th) Floor, 54 Jermyn Street, London, SW1Y 6LX. United Kingdom
Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773

Email: griffin@griffinmining.com (mailto:griffin@griffinmining.com)

 
10(th) March 2026

 

Caijiaying Mine Achieves 100% Renewable Energy Use

 

Zone II Construction, Commissioning & Production Update

 

 

Griffin Mining Limited ("Griffin" or the "Company) is pleased to announce that
the Company continues to strengthen its standing as a leader in the Chinese
Green Mining initiative with the following now fully completed:

 

1.     The Caijiaying Mine operating on 100% renewable energy generated
through solar and wind power, fully aligning the Company and it's operations
with the Chinese national decarbonization goals; and

2.     The full implementation of industry-leading waste management
practices achieving 100% tailings consumption underground via paste-fill at
the current reduced production rate supporting the Chinese policy of zero
waste residue and environmental footprint minimization.

 

The completion of Zone II construction at the Caijiaying Mine remains on
schedule for the beginning of the 2(nd) quarter of 2026. Following completion,
commissioning will commence immediately under the direct guidance and
supervision of Chinese regulators to ensure a stable and "zero safety
incident" environment is observed.

 

To ensure the most conservative standards are maintained in such a vital
process for the Company's future, the Company is managing it's throughput
during 2026 with the production rate for the first half of the year expected
to remain at 750,000 tonnes per annum during the approval and commissioning
processes, rising to 1,500,000 tonnes following the grant of the Safety
Approval in the second half of the year. Despite an anticipated slight
reduction in 2026 in budgeted ore production and a budgeted metal output,
revenue is expected to remain stable resulting in an expected improvement to
profit before tax, driven by the combination of lower operating costs and
higher realized metal prices.

 

 

Chairman's Statement

 

Chairman Mladen Ninkov commented, "By continuing to align our operations with
the stringent safety and environmental requirements of the Chinese regulatory
authorities and proactively supporting the zero political risk operating
environment, the Company is securing the long-term viability of this
world-class asset with the knowledge it will produce decades of stable,
high-margin production for the future benefit of our shareholders. We look
forward to the year ahead."

 

 

 

 

Further information

 

Griffin Mining Limited

Mladen Ninkov - Chairman
                                           Telephone:
+44(0)20 7629 7772

Roger Goodwin - Finance Director

 

Panmure Liberum Limited - Nominated Adviser & Joint
Broker                               Telephone:
+44 (0)20 7886 2500

             James Sinclair-Ford

              Zak Wadud

 

Berenberg - Joint Broker
 
        Telephone: +44(0)20 3207 7800

                Matthew Armitt

Jennifer Lee

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014

 

Griffin Mining Limited's shares are quoted on the Alternative Investment
Market (AIM) of the London Stock Exchange (symbol GFM)

 

The Company's news releases are available on the Company's web site:
www.griffinmining.com (http://www.griffinmining.com/)

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