Caijiaying Mine Achieves 100% Renewable Energy Use

Griffin Mining Limited

10 March 2026

 

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

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

Email: [e-mail]

 

10^th March 2026

Caijiaying Mine Achieves 100% Renewable Energy Use

 

Zone II Construction, Commissioning & Production Update

Griffin Mining Limited ("Griffin" or the "Company) is pleased to announce that the Company continues to strengthen its standing as a leader in the Chinese Green Mining initiative with the following now fully completed:

1.     The Caijiaying Mine operating on 100% renewable energy generated through solar and wind power, fully aligning the Company and it's operations with the Chinese national decarbonization goals; and

2.     The full implementation of industry-leading waste management practices achieving 100% tailings consumption underground via paste-fill at the current reduced production rate supporting the Chinese policy of zero waste residue and environmental footprint minimization.

The completion of Zone II construction at the Caijiaying Mine remains on schedule for the beginning of the 2^nd quarter of 2026. Following completion, commissioning will commence immediately under the direct guidance and supervision of Chinese regulators to ensure a stable and "zero safety incident" environment is observed.

To ensure the most conservative standards are maintained in such a vital process for the Company's future, the Company is managing it's throughput during 2026 with the production rate for the first half of the year expected to remain at 750,000 tonnes per annum during the approval and commissioning processes, rising to 1,500,000 tonnes following the grant of the Safety Approval in the second half of the year. Despite an anticipated slight reduction in 2026 in budgeted ore production and a budgeted metal output, revenue is expected to remain stable resulting in an expected improvement to profit before tax, driven by the combination of lower operating costs and higher realized metal prices.

Chairman's Statement

Chairman Mladen Ninkov commented, "By continuing to align our operations with the stringent safety and environmental requirements of the Chinese regulatory authorities and proactively supporting the zero political risk operating environment, the Company is securing the long-term viability of this world-class asset with the knowledge it will produce decades of stable, high-margin production for the future benefit of our shareholders. We look forward to the year ahead."

 

Further information

Griffin Mining Limited

Mladen Ninkov - Chairman                                                                               Telephone: [phone]

Roger Goodwin - Finance Director

Panmure Liberum Limited - Nominated Adviser & Joint Broker                               Telephone: [phone]

             James Sinclair-Ford

              Zak Wadud

Berenberg - Joint Broker                                                                                            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

 

END