Griffin Mining Limited (“Griffin”) is pleased to report that the planned upgrade of the processing facilities at the Caijiaying mine are currently proceeding on time and within budget. According to the schedule, the processing of ore from the mine has now been suspended for a period of two months to enable new crushing and milling equipment to be installed and integrated into the existing processing facilities. Mining and haulage of ore will continue during this period and be stockpiled to be processed upon the commissioning of the expanded processing facilities. With the doubling of processing capacity at Caijiaying, it is expected that the stockpiled ore will be processed by year end resulting in annual production of zinc metal in concentrate to be in line with 2013 results.
Administrative state issues in China outside Griffin’s control continue to delay the grant of a new mining licence over the unmined Zone II and ancillary areas at Caijiaying. It is expected to be issued later this year.