Anglesey Mining plc is a UK based exploration and mining company. The Company's key assets are the Parys Mountain Cu-Zn-Pb-Ag-Au deposit on the Isle of Anglesey, a 49.75% stake in the Swedish based Grängesberg Iron AB and a 12% stake in Canadian based Labrador Iron Mines Holdings Limited. All of the Company's assets are considered brownfield opportunities in friendly mining jurisdictions and with permitting and production precedents.
The Parys Mountain Project located on the isle of Anglesey has existing resources of 16.9Mt at 1.0% Cu, 1.5% Zn, 0.8% Pb, 29g/t Ag and 0.2g/t Au. The Company completed a Preliminary Economic Assessment in January 2021 that demonstrated a robust economic development. The PEA highlights a 12 year operational life with average annual production of 26kt combined Cu/Zn/Pb, 360koz silver and c.4koz gold.
The Grängesberg Iron Ore Project in Sweden has a reserve of 82Mt, which is expected to support a 16-year mine life producing up to 2.5Mtpa of high-grade iron ore concentrate - as shown by the Pre-Feasibility Study Update completed in July 2022. The PFS demonstrates a production profile of 2.5Mtpa of 70% Fe concentrate with an FOB cost of US$53/t.
Parys Mountain provides a unique opportunity to develop a mine in the UK that will support the ongoing energy transition. The proposed mine development will benefit from the existing infrastructure in place, which includes access to road, grid power on site, existing underground development, substantial existing site works, being located just 21 miles from an operational port and situated 2 miles from the town of Amlwch. Once operational, the significant exploration potential could ultimately see the mine producing Cu, Zn, Pb, Ag and Au beyond the initial 12-year mine life.