(Alliance News) - Griffin Mining Ltd said Wednesday said its Chinese subsidiary Hebei Hua Ao Mining Industry Co Ltd has received notification from Beijing Ministry of Natural Resources that further clarification is required concerning farming surface rights for zone II at the Caijiaying mine in China.
The mining investor said as a result, the acceptance period was again suspended with the effect from October 24.
A formal response with the full support of local, municipal and provincial levels of government has been prepared for submission to the Beijing Ministry of Natural Resources with the expectation it will resolve the issue, the company said.
Griffin Mining said that Hebei's licence application for the mine was granted in early August, with the approval and issuance of the licence having been expected in the following 40 business days.
However, a week later the Hebei Provincial Branch of the ministry requested two further minor supplementary documents, leading to the 40-day period being suspended and reinstated subsequently with 35 business days remaining.
Mladen Ninkov, chair of the company, said: "Yet another administrative delay after so many previous administrative delays in the ongoing MLA process. I believe shareholders have become far too accustomed to these delays, yet we all hope this is the last and we continue to look forward to the day we receive the new mining licence."
Griffin Mining shares closed 1.2% lower in London at 85.00 pence on Wednesday. They were untraded early Thursday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Griffin Mining (GFM)