- Business
- Griffin Mining Limited is a Bermuda-incorporated mining and investment company listed on the AIM market of the London Stock Exchange under the ticker GFM.L; it focuses on the mining, exploration, and development of mineral properties, primarily zinc, gold, silver, lead, and precious metal deposits in China. The company holds an 88.8% interest in Hebei Hua Ao Mining Industry Company Limited through its wholly-owned Hong Kong subsidiary China Zinc Limited, which operates the Caijiaying Mine and processing facilities near Caijiaying Village in Hebei Province, approximately 250 kilometers northwest of Beijing; it also maintains a 90% interest in Hebei Sino Anglo Mining Development Company Limited for surrounding exploration licenses. Founded in 1988 with headquarters in Hamilton, Bermuda, and operational offices in London, United Kingdom, Griffin Mining produces zinc, gold, silver, and lead concentrates from the Caijiaying Mine, which has a nameplate mill throughput capacity of 1.5 million tonnes of ore per annum following multiple upgrades since its 2005 commissioning.
The Caijiaying Mine, Griffin's principal asset developed since 1997, extracts and processes ore from Zone III, yielding high-grade zinc-lead and precious metal concentrates sold to smelters; recent drilling in 2024-2025 has confirmed significant high-grade gold domains below existing development, including intercepts such as 4m at 24.4 g/t Au and 7m at 8.90 g/t Au, with ongoing exploration testing multiple shoots. The company sustains operations with supporting infrastructure including a processing plant, camp, and ventilation systems, while emphasizing sustainability, safety, and environmental care, as evidenced by its 2021 Green Mine certification and 2010-2011 China Mining conference awards.
In recent developments, Griffin Mining completed infrastructure for Zone II at Caijiaying, securing an additional mining license in 2022 and advancing commissioning on schedule for the first quarter of 2026, with underground workings, services installation, and the South Ventilation Shaft nearing completion to enable ore extraction in late 2025. The company faced a complete operational shutdown in Q4 2024 following an underground incident, impacting Q1 2025 production, but recovered to process 588,852 tonnes of ore in H1 2025, producing 17,093 tonnes of zinc, 8,703 ounces of gold, 163,220 ounces of silver, and 708 tonnes of lead in concentrate. Griffin continues its share buyback program, repurchasing $12.5 million in ordinary shares in 2024 to enhance earnings per share, while maintaining a debt-free balance sheet with cash balances exceeding $69 million as of June 2025; it ceased quarterly trading updates in favor of half-yearly reporting.