Griffin Mining expects improved profit as Caijiaying work progresses

(Alliance News) - Griffin Mining Ltd on Tuesday said it expects stable revenue and higher pretax profit in 2026, as it noted the Caijiaying mine is now operating on 100% renewable energy.

The London-based mining investor focused on China said the energy is generated through solar and wind power, and aligns the firm with the Chinese national decarbonisation goals.

It added that the full implementation of "industry-leading waste management practices" has achieved 100% tailings consumption underground via paste-fill.

Griffin Mining added that completion of zone two construction at the mine remains on schedule for the beginning of the second quarter of 2026.

After completion, commissioning will start immediately under the supervision of Chinese regulators.

Griffing Mining said it is managing its throughput in 2026 to "ensure the most conservative standards are maintained" during the process.

It expects the production rate for the first half of the year to remain at 750,000 tonnes per year during the approval and commissioning processes, before rising to 1.5 million tonnes after safety approval.

"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 realised metal prices," Griffin Mining said.

Shares in Griffin Mining rose 1.6% to 317.00 pence on Tuesday morning in London.

By Michael Hennessey, Alliance News reporter

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