Griffin Restarts Caijiaying Zinc/Gold Mine

BEIJING, June 3 -- Mining has begun at the Caijiaying zinc/gold mine, in China, Aim-listed Griffin Mining announced on Tuesday.

    The Caijiaying operation was halted in December for mine development, maintenance work and plant upgrades, and because of low metal prices.

    The company said at the time that the shutdown would last three months, but the restart was delayed because the operation continued processing stockpiled ore into February, which meant that the upgrading and maintenance work began later than expected.

    Work was also delayed by components not reaching site and outdoor work being compromised by the unusually harsh winter weather conditions at Caijiaying, Griffin said on March 27.

    In April, Griffin abandoned a takeover bid for Toronto-based Ivernia, the owner of the Magellan lead mine, in Western Australia, which was closed in 2007 after environmental damage was discovered at the port of Esperance, from which it had been transporting lead shipments.

    Griffin shares declined 2,4% on Tuesday, to 41,25p by 15:35 in London.

    (Source: miningweekly.com)