The Asia Miner

OCT-DEC 2016

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Volume 13 • Issue 4 | 2016 | ASIA Miner | 53 China 格里芬矿业计划在2016 金属矿项目回归正常经营。2015年10月份该矿发生的伤 亡事故导致项目被关停5个月。 格里芬矿业的主席Mladen Ninkov介绍说因1 亡而导致的关停不仅使开采、加工、生产、收入和利润 停滞,还使得井下清理工作和将要进行的基本建设陷入 停顿。 "关停对经营和财务所带来的影响直到今年6月才显现出 来。排除一切外部干扰,2016年的下半年计划回归正常经 营,并且随着大宗商品价格的走高,公司对于下半年的业 绩充满信心,"在格里芬矿业的半年报告中他如是说。 采矿作业一直暂停到1月22日,这严重影响了公司收入 和利润,之后的恢复生产又被2月份的中国农历新年所 1季度较低的大宗商品价格也让公司付出了代价。 公司表示,这些问题导致了1季度矿石量缺乏以及使用低 品位矿石进行选矿的情况。2季度矿石开采量和处理量增 加,同时大宗商品的价格上涨共同使盈利能力恢复。 矿石提升至地表的量下降了13.5% 2016年前6个 月共采矿石365,337吨,较2015年同期的418,950吨减少 了12.8%。这一时期的金属精矿产量也有所下降。产锌 13,420吨,较2015年同期的20,081吨有所下降;产铅705 吨,较去年同期962吨有所下降;产银120,953盎司,较去 年同期193,098盎司有所下降;产金3,553盎司,较去年同 期6,274盎司有所下降。 采的III区域深部、II区域以及连接区域的新采矿权证的取 得。III区域的开发工作继续进行。1-6月,562万美元被用 于矿山开发和设备升级工作。 Mladen Ninkov说:"公司将继续进行采矿权证的申请并期 待该项工作圆满完成。" GRIFFIN Mining expects operations to return to normal during the second half of 2016 at the Caijiaying precious and base metals mine . This follows a fatality at the mine in October 2015 which re- sulted in operations being shut down for five months. Griffin chairman Mladen Ninkov said the shutdown that followed the death of a contractor not only stopped mining, processing, production, revenues and profits, but also prevented underground clean-up activities and capital development to be undertaken in the downtime . "The effects of the shutdown were being felt, both operationally and financially, until June this year. Barring any further extraneous events, the second half of 2016 is expected to return to normality and, with higher commodity prices, the company is confident of a very acceptable second half year period," he said in Griffins half year statement . Revenues and profits were severely impacted by the suspension of mining until January 22, with the ramp-up further impacted by the disruption caused by the Chinese New Year holidays in February . Relatively low commodity prices in the March quarter also took their toll . The company said these issues resulted in a lack of ore and low grade ore to process in the first quarter. The June quarter saw an increase in the amount of ore mined and processed, which together with rising commodity prices led to a return to profitability. With 13 . 5% less ore hauled to surface, throughput of 365,337 tonnes of ore in the six months to June 30 at Caijiaying was down 12 . 8% on the 418,950 tonnes achieved in the six months to June 30, 2015 . Metal in concentrate production during the period also declined . There were 13,420 tonnes of zinc produced, down from 20,081 in the same period of 2015; 705 tonnes of lead, down from 962 tonnes; 120,953 ounces of silver, down from 193,098 ounc- es; and 3553 ounces of gold produced, down from 6274 ounces . Administrative state issues in China outside Griffin's control con- tinue to delay the grant of a new mining licence over the unmined Zone III deeps, Zone II and adjacent areas at Caijiaying. Develop- ment of the mine at Zone III continues . During the six months to June 30 $5 . 62 million was expended on mine development and plant upgrade work . Mladen Ninkov said, "The company continues to progress the Mining Licence application and remains hopeful of a successful conclusion to this matter . " An aerial view of the area around the Caijiaying mine in Hebei Province indicat- ing the various facilities . Caijiaying Caijiaying operations ramp back up operations ramp back up

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