11 October 2007 LSE:AYM
The company is pleased to provide a progress report on its zinc-lead-copper mining operations at Parys Mountain.
Preparatory work for the construction of the White Rock decline at Parys Mountain is now gathering pace. Initial site clearing has been completed and contracts for the site fencing and initial excavation of the box cut which leads to the decline portal have been let; work on these tasks is expected to commence within two weeks.
Mining engineering consultants Scott Wilson from Chesterfield have been engaged to provide engineering design services in respect of the decline itself and are expected to complete their initial plans within three weeks, including specifications and contract documentation for the decline excavation.
Detailed discussions have been held with contractors for the excavation of the decline and priced offers are expected within one month, with the intention of commencing underground excavation at the start of January 2008.
Approval of the detailed plans for the decline box cut excavation and related works, as required by the conditions of the company's existing and valid planning permission granted in 1988, has been received from the Isle of Anglesey County Council, the relevant mineral planning authority. This planning permission, as is usual in cases of this type, contains conditions relating to operations, such as vehicle wheel cleaning, glare from lighting, noise, blasting vibration and haulage routes. It also contains conditions regulating the siting of temporary and permanent buildings, fencing, landscaping and so on. Seeking approval from the mineral planning authority for detailed aspects of the company's plans and operations is an on-going process which will continue as work progresses.
Discussions have been held with suitably qualified and experienced mining and project personnel to manage the works and appointments are expected to be made within the next six weeks. Subject to some additional financing no delays are expected in mobilisation for the decline excavation and commencement of this aspect of the works.
A detailed proposal for a bankable feasibility study on the White Rock project has been received and it is anticipated that a contract will be awarded for this work following some ongoing discussions.
Bill Hooley, chief executive, commented: 'It is encouraging that we are now commencing work on the White Rock decline. This represents a major new phase of our activities at Parys Mountain after many years of suspended activity due to low metal prices. We intend to press ahead with development of the mine without delay.'
Anglesey Mining plc is a UK based company listed on the London Stock Exchange with two major projects under active development towards mining production.
For further details:
Ian Cuthbertson, Finance Director +(44) 1248 361333
Bill Hooley, Executive Director +(44) 1492 541981
John F. Kearney, Chairman +(1) 416 362 6686
Parkgreen Communications +(44) 20 7851 7480
|Anglesey Mining plc
Parys Mountain, Amlwch,
Anglesey, LL68 9RE, UK
|Phone +44 1248 361333