Griffin Mining Reports Q1 2024 Production Results at Caijiaying Zinc-Gold Mine
Griffin Mining has disclosed its production outcomes for the first quarter of 2024 from the Caijiaying Zinc-Gold Mine, marking a period influenced by seasonal holidays and operational maintenance.
In the first three months ending March 31, 2024, the mining operation extracted 335,234 tonnes of ore, a slight decrease from the previous year's figure of 355,742 tonnes. The ore processing volume also saw a reduction to 327,529 tonnes, compared to 366,120 tonnes processed in the same period in 2023. This downturn is attributed to the Chinese Lunar New Year and Spring Festival holidays, which traditionally impact operations due to government shutdowns and the travel of staff and contractors.
Despite the decrease in ore processed, Griffin Mining reported an increase in precious metals production compared to the first quarter of 2023. Gold concentrate production rose by 11.1% to 5,270 ounces, and silver concentrate production increased by 4.7% to 72,026 ounces. Lead concentrate production saw a significant boost of 20.4%, amounting to 277 tonnes. However, zinc concentrate production experienced a decrease of 18.2%, totaling 11,423 tonnes.
The average received prices for zinc, gold, silver, and lead reflected a favorable market, with gold notably reaching an average price of $2,026 per ounce, aligning with the trends of higher precious metals prices.
