2021 Full Year & Fourth Quarter Production

Overview

The 2021 calendar year produced an outstanding operational result in terms of ore mined, ore processed and, most importantly, Zinc and Gold produced. This was in spite of the fact that production was impacted in the fourth quarter by increasing constraints caused by the impending Chinese New Year, Winter Olympic Games and the Paralympic Games, including the reduction in the control of the supply of explosives. 

Zinc metal in concentrate production for 2021 was up 28.1% on that achieved in 2020, whilst average zinc prices received in 2021 were up 40.5% on that received in 2021, with higher market prices and lower smelter treatment charges.   

Mladen Ninkov, Chairman, commented:

“The 2021 production results are outstanding in their own right, made even more exceptional in light of the normal suspension of activities in the first quarter and the last quarter’s slowdown as the Chinese New Year and Winter Olympics approached and government restrictions began to be imposed. It is a credit to both the Western and Chinese operational staff that this result has been achieved.”

About Griffin Mining Limited 

Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China  the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website giffinmining.com.

Further information

Griffin Mining Limited

Mladen Ninkov – Chairman                                  Telephone: +44(0)20 7629 7772

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                        Telephone: +44 (0)20 7886 2500

John Prior

Alisa MacMaster           

Berenberg                                                       Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

Blytheweigh

Tim Blythe                                                       Telephone: +44(0)20 7138 3205   

Swiss Resource Capital AG

Jochen Staiger                           

info@resource-capital.ch

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014