8th Floor, Royal Trust House, 54-56 Jermyn
Street, London. SW1Y 6LX, United Kingdom
Telephone: + 44 (0)20 7629
7772 Facsimile: + 44 (0)20 7629 7773
E mail:
griffin@griffinmining.com
24th April
2024
Caijiaying Mine to Become
100% Powered by Green - Renewable Energy
Griffin Mining Limited ("Griffin" or
the "Company") herewith announces that its operating
subsidiary, Hebei Hua Ao Mining Industry
Company Limited ("HHA"), has entered into an agreement with
Zhangjiakou Guoao New Energy Co Ltd ("ZGNE"), for the Caijiaying
Mine to be the sole consumer of energy generated from two
6.3MW wind turbines generating a total of 12.6MW of wind power. The
wind turbines will be constructed within 2.5km of the Caijiaying
Mine and connected to the current 36,000 volt mains electrical
power lines. ZGNE is HHA's current partner for the fully
operational 6MW Solar Farm facility located on the rehabilitated
Tailings Facilities 1 and 2 at the Caijiaying Mine. This new wind
turbine agreement is a natural extension of the already successful
local partnership between HHA and ZGNE.
Once completed, the Caijiaying Mine
will have 18.6MW of renewable electrical capacity at peak
generation which exceeds the current 18.1MW peak usage. In
accordance with current People's Republic of China regulations,
this is the maximum electrical capacity an independent private
enterprise may develop. The project is expected to be completed
within 12 months, including all approvals and
construction.
HHA remains committed to 100%
renewable energy. In addition to this renewable energy
generation, HHA is examining the installation of large-scale
battery storage capacity and the purchase of wind or solar energy
directly from state owned renewable energy projects in close
proximity to the Caijiaying Mine to achieve 100% renewable power at
all times regardless of light or wind conditions.
Mladen Ninkov, Chairman, commented:
"As the Company has continually
emphasized, it has always been our stated goal to be a fully
responsible corporate entity in all respects, and overwhelmingly,
in terms of a clean and carbon free environment. To that end, we
have strived to fulfil our obligations at all stages of our
development to the people of China and the world. I thank the board
of directors, senior management, staff and contractors who have all
strived for this momentous achievement.
I know of no other active mine or
operations that can claim to have fully committed to the switch to
100% renewable energy and already be generating a third of its
energy from its solar farm. It is my hope, in an investment world
so often led by form and not substance, that the capital committed
by moral driven institutions, high net worth individuals and
ordinary investors to achieve a carbon neutral future for the
planet, will reward Griffin for its commitment and achievement in
this vital and timely endeavour."
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
griffinmining.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
Dominic Morley
Dougie McLeod
Berenberg
Telephone: +44(0)20 3207 7800
Matthew
Armitt
Jennifer Lee
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) No. 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018
("MAR").
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