Anglesey Mining
LSE: AYM
Headquarters
United Kingdom
ProductsMining
Websitewww.angleseymining.co.uk

Anglesey Mining is a United Kingdom based mining company. The company is listed on the Alternative Investment Market of the London Stock Exchange under the ticker AYM in the mining sector.[1] The company has three projects, Parys Mountain in Wales, Grängesberg in Sweden, and Labrador Iron Mines in Canada.

Parys Mountain

Parys mountain on the Isle of Anglesey in Wales was formerly a major producer of copper. Anglesey Mining has identified further resource in the mountain, and produced a Prelininary Economic Assessment in January 2021 which included an updated resource estimate indicating 160,000 tons of copper, and 400,000 tons of combined zinc/lead. A drilling campaign to improve definition of the lead/zinc resource has been completed and the company is currently (as of November 2023) carrying out exploration drilling of a copper rich zone to improve estimates of its extent and composition.

Grängesberg

Anglesey Mining own a 49.75% stake in Grängesberg Iron AB, together with management rights and a right of first refusal to increase its interest. This former iron ore mine closed in 1989, but still contain significant high-grade ore (over 70%), and was the subject of a PFS in July 2022. This indicated a post-tax NPV8 of US$688m, at an iron ore price of US$120/tonne, 62% Fe, CFR China benchmark, and FOB costs of US$53/t to the ice-free port of Oxelösund, Sweden. The PFS did not include the value of apatite and rare earth elements in the tailings. In March 2023 it was announced that Anglesey Mining had entered into discussions with Mine Storage International AB to consider whether the existing mine working could be used for a pumped hydro-energy storage system at the end of the mine's life.

Labrador Iron Mines

Anglesey Mining holds a 12% interest in Labrador Iron Mines Holdings Ltd. Labrador Iron Mines produced iron ore at Schefferville in Canada between 2011 and 2013, but this operation was shut down when the iron ore price fell. Since then the company has been taken off the main market and is now listed OTC (ticker LBRMF).

References

  1. ↑ ANGLESEY MINING PLC ORD 1P. London Stock Exchange. Retrieved 12 June 2015.



This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.