Griffin Mining has received a new mining license for Zone 2 and 3 of its Caijiaying zinc-silver project from the Chinese Ministry of Land and Natural Resources.
According to a press release from the Chinese miner, the license concludes a wait of eight years to operate Zone 2, which holds a large chunk of the mine’s deposits. This area is estimated to hold 19.6mn mt of mineral deposits, grading 3.3pc zinc, which translates to about 638,000mt of contained zinc metal.
With the new permit, the company plans to increase mined ore output to 1.1mn mt in 2021, compared with 820,000mt last year, and transition to processing 1.5mn mt of ore in 2022. The company has already modernized its milling equipment and no further capital expenditure is required.