(Alliance News) - Griffin Mining Ltd on Monday said its design for zone 2 of the Caijiaying mine in China has been approved by the local emergency response bureau.
Griffin Mining is a China-focused mining company. The Caijiaying licence is its flagship asset. Caijiaying is an operating zinc, gold, silver and lead mine, located 250 kilometres northwest of Beijing in Hebei province.
It said the Hebei Provincial Emergency Response Bureau approved Griffin's mine plan, including expanding its current production throughput rate.
Griffin Mining said zone 2 will be in production for over 25 years and contribute 24.0 million tonnes of ore, based on the known published resources as classified by JORC, an industry code of practice.
Of this, around 59% of the projected total ore is expected to be produced on the current life of mine plan for Caijiaying, Griffin Mining said.
It expects construction at zone 2 to commence immediately, while horizontal underground development has already begun.
Chair Mladen Ninkov said: "As has been the case throughout the history of the company and the Caijiaying Mine, the company has continued to successfully navigate the Chinese regulatory environment to obtain all the necessary approvals and licences to allow the company to thrive and expand."
Shares in Griffin Mining were up 0.7% to 84.00 pence each in London on Monday, after midday.
By Greg Rosenvinge, Alliance News reporter
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Griffin Mining (GFM)