Griffin Mining Limited (“Griffin” or “the Company”) is a mining and investment company, incorporated in Bermuda in 1988 whose shares were admitted to trading on the Alternative Investment Market of the London Stock Exchange (“AIM”) in 1997.
The major asset of the Company is an 88.8% interest in Hebei Hua Ao Mining Industry Company Limited (“Hebei Hua Ao”) through its wholly-owned Hong Kong subsidiary, China Zinc Limited (“China Zinc”), which holds licences, the operating mine and processing facilities (the “Caijiaying Mine”) near Zhangjiakou City in the People’s Republic of China (“PRC” or “China”).
The Company has held an interest in Hebei Hua Ao since 1997 having financed, explored and managed the development of the Caijiaying Mine from the discovery of mineralisation to currently extracting and processing the annualised equivalent of 1.5 million tonnes of ore per annum to extract primarily zinc, together with gold, silver, and lead in concentrate.
The Caijiaying Mine is an operating zinc, gold, silver, and lead mine, together with processing plant, camp and supporting facilities, located approximately 250 kilometres by road, north-west of Beijing in the Hebei Province of the PRC. The Caijiaying Mine is easily accessible by freeway from Beijing. The site has significant water supplies, on site solar farm together with two 35,000 volt power lines connected to the electricity grid, full connectivity to fixed and mobile telecommunications systems and broadband access for internet services
The Caijiaying Mine was commissioned on time and on budget in 2005. Numerous upgrades to the Caijiaying Mine have taken place since commissioning leading to the current name plate mill throughput capacity of 1.5 million tonnes of ore per annum. Mining rates solely from Zone III have now reached the equivalent of 1.5 million tonnes of ore per annum. The development of Zone II at the Caijiaying Mine, now being undertaken, will enable current and possibly higher production rates in the future.
To date Griffin has invested some $400 million on acquiring its interest in the Caijiaying Mine and in the development and construction of the workings and processing facilities financed mainly from internally generated funds.
The Company also holds a 90% interest in Hebei Sino Anglo Mining Development Company Limited (“Hebei Anglo”), which has interests in exploration licences immediately surrounding the Hebei Hua Ao licence area.
The Company continues to explore, expand, and develop the Caijiaying Mine whilst also investigating potential acquisitions of mining projects that are capable, through either advanced exploration or mining expertise, of being brought into production.
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