Griffin Mining shares down on coronavirus closure at mine

(Sharecast News) - Griffin Mining updated the market on its operations at the Caijiaying Mine in China on Wednesday, as it remained affected by the ongoing outbreak of novel coronavirus in the country.
The AIM-traded firm said decrees from the Chinese government had now restricted all non-essential business activities until 9 February, as efforts were made to contain the outbreak.

As it had said in its previous announcement, under past normal operational practices, mining operations were suspended at Caijiaying during the Lunar New Year holiday, from 22 January.

Milling operations continued until 30 January, the board confirmed.

"Underground workings at Caijiaying are being maintained on a care and maintenance basis with essential services, including pumping and ventilation, ongoing," Griffin said in its statement.

"As planned, the opportunity has been taken to undertake maintenance work at the mill, which has now been completed and the mill placed in care and maintenance.

"Whilst all essential and senior Chinese staff remain at Caijiaying, all non-essential local staff have been sent home and placed on standby with the expectation of operations recommencing on 9 February, as mandated by the Chinese authorities."

At 0949 GMT, shares in Griffin Mining were down 2.69% at 63.25p.