Anglesey Mining plc

26% of Labrador Iron Mines in Canada

100% of Parys Mountain in Wales

Full London Stock Exchange listing

Anglesey holds 26% of Toronto-listed Labrador Iron Mines Holdings Limited (TSX:LIM) which is producing from and developing twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. LIM’s properties are part of the historic Schefferville area iron ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982.

Commercial production began in 2011 and the first train loaded with iron left Schefferville in June and the first ship left Sept Iles for China in October. Shipments of one million tonnes of direct shipping lump and sinter fine hematite iron ore are forecast for 2011, rising to 5 million tonnes annually after several years. See the Labrador Iron Mines website for further details.

Anglesey also has 100% of the Parys Mountain zinc-copper-lead deposit in North Wales, UK with a total historical resource in excess of 7 million tonnes at over 9% combined copper, lead and zinc.

Principal activities and business review - July 2011

The group’s principal activities are the development and operation of the Labrador iron project in eastern Canada in which the group now has a 33% (26% from March 2012) interest, and the Parys Mountain project in North Wales which is wholly owned.
Development of the Labrador properties is proceeding rapidly and the James deposit, the first to go into production, dispatched the first train carrying iron ore on 29 June 2011. Output is expected to build up during the remainder of the operating season.
The group continues its search for other mineral exploration and development opportunities.
The aim of the group is to continue to develop and operate the Labrador projects, to create value in the Parys Mountain property, including by co-operative arrangements, and to actively engage in other mineral ventures using the group’s own resources together with such external investment and finance as may be required.

 

Labrador Iron Mines - Schefferville Project

  • - Direct shipping (DSO) lump and sinter fines high-grade hematite iron ore in Labrador
  • - Production began in Spring 2011
  • - Low capital expenditure requirements - fully funded
  • - Existing rail transportation, deep water ports, shipping facilities and hydro power
  • - Potential mine life of more than 20 years
  • - Former operations of the Iron Ore Company of Canada
  • - New iron ore and manganese properties in Labrador and Quebec added in December 2009


    • Picture - part of the Redmond deposit


Parys Mountain Property

  • - On the island of Anglesey in north Wales - worked for copper since prehistoric times
  • - Resource of 7.76 million tonnes - Cu 2%, Pb 2.9% and Zn 4.9%
  • - Life of mine contributions to revenue - zinc 27%, copper 51% and lead 13%. Copper more important in later years - October 2010 prices
  • - Project has planning permission - two years to production from completion of financing
  • - Successful drill programmes in 2005-08 in two areas - Garth Daniel in the east and near-surface White Rock in the west near to the existing shaft
  • - Excellent exploration potential over an area of several kilometres
  • - Work in 1991 resulted in a positive independent feasibility study for a 1,000 tonne per day mine and strong local community and government support

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    Picture - BGS visit 13 October 2005 - Simon Jowitt (BGS), David Jenkins (Amlwch Heritage Trust), John Naden (BGS), Tim Colman (BGS), Steve Tennant, Tim Barrett, Ian Cuthbertson with core from AMC15