Progress Report on Caijiaying Operations
28 September 2010 - 9:38AM
UK Regulatory
TIDMGFM
RNS Number : 4115T
Griffin Mining Ld
28 September 2010
Griffin Mining Limited
60 St James's Street, London SW1A 1LE, United Kingdom
Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773
E mail: griffin@griffinmining.com
Progress Report on Caijiaying Operations
28th September 2010.
Further to the announcements of the 9th August 2010 and the 16th August 2010,
Griffin Mining Ltd ("Griffin" or the "Company") continues to await the
definitive written report and comments from the investigatory committee into the
fatalities at the Caijiaying zinc gold mine, as required by Chinese legal
regulations. Although the publication of the report is expected imminently,
until the report is presented and its recommendations implemented, mining
operations at Caijiaying remain suspended. In the interim, to keep overhead
costs to a minimum, staff at Caijiaying have been demobilised on reduced pay
until the recommencement of all mining and processing operations.
The Company has also been notified that in order for the People's Republic of
China to meet certain global warming targets agreed at the Copenhagen Summit,
certain provinces have been ordered to begin rationing or shutting down power to
both industrial and domestic users. Hebei Province, in which the Caijiaying
zinc gold mine is located, is one such province. Consequently, electricity
supplies to all mines in the Zhangjiakou prefecture are being suspended and
electricity to all residential properties restricted. No announcement has been
made as to when these restrictions will be lifted although it is unlikely that
this will be a long term policy.
Further information
Griffin Mining Limited:
Mladen Ninkov (Chairman)
Roger Goodwin (Finance Director )
+44 (0)20 7629 7772
Investec Investment Banking:
Stephen Cooper
+44 (0)20 7597 5104
Griffin Mining Limited's shares are quoted on the Alternative Investment Market
(AIM) of the London Stock Exchange (symbol GFM).
The Company's news releases are available on the Company's web site:
www.griffinmining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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