Griffin Mining Ld LICENCE CONTRACT WITH MINISTRY OF NATURAL RESOURCE (2874U)
July 11 2018 - 4:19AM
UK Regulatory
TIDMGFM
RNS Number : 2874U
Griffin Mining Ld
11 July 2018
Griffin Mining Limited
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
Licence Contract Signed with Ministry of Natural Resources
Mining Licence Application Entering Final Phase
Permission to Conduct Mining Operations Given Over Zone II
11(th) July 2018.
Griffin Mining Limited ("Griffin" or the "Company") is delighted
to announce that the Company's Chinese operating subsidiary, Hebei
HuaAo Mining Industry Co Ltd ("Hebei HuaAo") has completed the most
important phase in the granting of the new mining licence over Zone
II of the Caijiaying Zinc-Gold Mine ("Zone II"). On 11(th) July
2018 a legally binding contract was signed with the Hebei
Department of Land and Mineral Resources, as authorised by the
Beijing Ministry of Natural Resources, pursuant to the Interim
Administrative Regulation for Proceeds Collection from the Transfer
of Mineral Rights (2017). Hebei HuaAo has become the first company
to proceed under this newly promulgated regulation governing the
transfer and conversion of mining tenements. Hebei HuaAo will now
be entitled to conduct mining activities in Zone II and will be
prioritized in its final documentation approvals for the conversion
of the exploration licence over Zone II into a mining licence in
compliance with relevant national policies.
Chairman of the Company, Mr. Mladen Ninkov, commented "the
Chinese legal framework in the mining sector has changed
substantially over the last twenty years since Griffin acquired and
developed the Caijiaying Zinc-Gold Mine. Over the last five years,
whilst we have actively pursued the new mining licence, the
relevant regulations have changed several times resulting in
substantial delays in the final licencing application. We are
delighted to say that we have finally been able to see the light at
the end of this very long tunnel. Stay tuned."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
Further information
Griffin Mining Limited:
Mladen Ninkov (Chairman)
Roger Goodwin (Finance Director & Company Secretary)
Telephone: +44 (0)20 7629 7772
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
Dominic Morley
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
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END
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