Commissioning of Solar Farm at the Caijiaying Mine

Griffin Mining Limited

10 October 2023

 

8^th Floor, Royal Trust House, 54 Jermyn Street, London. SW1Y 6LX.  United Kingdom

Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773

E mail: [e-mail]

10^Th October 2023

Commissioning of Solar Farm at the Caijiaying Mine

Griffin Mining Ltd ("Griffin" or the "Company") is pleased to announce that, in partnership with Zhang Jia Kou GuoAO (the "Partner"), the Company has successfully commissioned a 6MW solar energy generating facility (the "Facility") at the Caijiaying Mine. 

The Facility was constructed and commissioned within 12 months on the Company's rehabilitated Mine Tailings Facilities Numbers 1 & 2. The Facility contains 25,753 square metres of solar panel surface area. With the soon to arrive battery energy saving system, under normal weather conditions, the Facility is expected to be able to supply up to 30% of the Caijiaying Mine's total electrical energy consumption. During periods of shutdown, the system also has the capacity to direct excess capacity back into the local grid for extra revenue generation.  

The Company provided all the land, approval support and an exclusive 20 year off-take agreement for the renewable energy to our local Partner, which installed and will operate the system throughout its life. This Facility demonstrates, yet again, the Company's long term, industry leading, environmental and community leadership for sustainability and the benefits of socially responsible mining.  

Both companies are currently assessing the utilisation of this successful partnership model on the soon to be decommissioned Tailings Facility Number 3 which has the potential to utilise both wind and solar power (subject to a pending study) to make the Caijiaying Mine as close to 100% renewable energy usage as possible.  

Chairman Mladen Ninkov commented, "The Company continues to deliver, not only on its Green Mine Certification status, but far in excess of those obligation, ie on its moral commitment to both the People's Republic of China and all the citizens of the world in moving to the cleanest and greenest mine we can possibly operate. I sincerely believe that the Caijiaying Mine must now be one of if not the most environmentally friendly mine in the world and we look forward to pushing our green energy horizon even further in the years to come. I am proud of everyone who was involved in this process."

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 in China, through its 88.8% owned Joint Venture stock company, 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 www.griffinmining.com.

Further information

Griffin Mining Limited

Mladen Ninkov - Chairman                            Telephone: [phone]

Roger Goodwin - Finance Director

Panmure Gordon (UK) Limited                              Telephone: [phone]

             John Prior

             Dougie McLeod

Berenberg                                                                Telephone: [phone]

            Matthew Armitt

Jennifer Lee

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

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

 

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