Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGriffin Mining Share News (GFM)

Share Price Information for Griffin Mining (GFM)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 147.00
Bid: 143.00
Ask: 146.00
Change: -10.00 (-6.37%)
Spread: 3.00 (2.098%)
Open: 155.00
High: 157.00
Low: 145.00
Prev. Close: 157.00
GFM Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Griffin Mining Rises After Fully Restarting Operations At Caijiaying

Fri, 22nd Jan 2016 09:43

LONDON (Alliance News) - Griffin Mining Ltd shares rose on Friday after it said it has fully restarted operations at the Caijiaying mine in China following the death of a contractor in the middle of last year.

Griffin shares were up 7.8% to 24.80 pence per share on Friday morning.

The death of an employee of the mining contractor operating the mine in the middle of last year initially led to operations being suspended for a couple of weeks. However, in October, operations were suspended again so it could carry out an internal investigation into the death.

Although operations had been suspended since mid-October, Griffin continued to process its stockpiled ore to maintain production rates.

Last week, the Chinese state safety bureau completed an investigation into the death and ruled that the primary cause of death was the poor quality cement provided and lifted the suspension.

On Friday, Griffin said: "Approval to resume blasting has been given by all appropriate Chinese authorities and as such operations have fully recommenced at Caijiaying."

Operations have resumed slightly later than expected, as Griffin was hping to have restarted blasting operations before the end of last week.

Blasting is an essential part of the mining cycle. In virtually all forms of mining, rock is broken by drilling and blasting the rock. Blasting technology is the process of fracturing material by the use of a calculated amount of explosive so that a predetermined volume of material is broken.

Griffin was fined CNY500,000 over the death, which equates to a small sum of GBP52,000.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
15 Oct 2015 15:10

AGM, EGM Calendar - Week Ahead

Read more
4 Aug 2015 11:16

Griffin Mining shares slump as it reports drop in first-half profit

(ShareCast News) - Shares in Griffin Mining fell after it posted a drop in first-half pre-tax profit despite rising revenue, as interest payable on Chinese loans and foreign exchange losses dented its results. Pre-tax profit for the six months ended 30 June was $3.7m, down from $5.8m in the same per

Read more
4 Aug 2015 08:56

Griffin Mining Profit Drops On Loan Interest Despite Revenue Rise

Read more
15 Jul 2015 07:35

LONDON BRIEFING: Burberry Warns Of Challenging Market In Hong Hong

Read more
15 Jul 2015 05:18

AGM, EGM Calendar - Week Ahead

Read more
14 Jul 2015 14:59

AGM, EGM Calendar - Week Ahead

Read more
14 Jul 2015 05:18

AGM, EGM Calendar - Week Ahead

Read more
13 Jul 2015 15:07

AGM, EGM Calendar - Week Ahead

Read more
13 Jul 2015 05:17

AGM, EGM Calendar - Week Ahead

Read more
10 Jul 2015 16:11

AGM, EGM Calendar - Week Ahead

Read more
10 Jul 2015 05:17

AGM, EGM Calendar - Week Ahead

Read more
9 Jul 2015 15:21

AGM, EGM Calendar - Week Ahead

Read more
9 Jul 2015 05:23

AGM, EGM Calendar - Week Ahead

Read more
8 Jul 2015 15:20

AGM, EGM Calendar - Week Ahead

Read more
29 Jun 2015 08:40

Griffin Mining Says Caijiaying Operations Restart After Fatality

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.