🕐06.09.11 - 14:27 Uhr
ANGLESEY MINING - LIM PRODUCTION UPDATE - SECOND TRAIN IN OPERATION
Anglesey Mining plc LSE:AYM
6 September 2011
LIM Reports Production Update
Second Iron Ore Train Operating
Anglesey Mining’s 33% owned associate Labrador Iron Mines Holdings Limited
(TSX: LIM) reports that it has commenced the operation of a second train
moving iron ore from its James Mine and Silver Yards processing plant in
western Labrador to the Port of Sept-Iles, Quebec.
Total ore mined from
start up to August 31, amounted to 478,000 tonnes, together with 986,000
tonnes of waste.
There are now approximately 100,000 tonnes of iron ore, at
a grade of about 65.0% Fe, stockpiled at the port awaiting shipment.
Second Train in Operation
LIM commenced the operation of a second train on Saturday September 3.
This
second train will permit the rapid acceleration of the tonnage of iron ore
moving to the port for sale.
Improvements to the cycle times of trains from
mine to port and back are also being made and this will further increase the
tonnages expected to be railed.
The second train commenced operations a little earlier than previously
expected following accelerated modifications to the railcars.
At present 270
cars are in operation in the Sept-Iles-Silver Yards system and a further 40
should become available within the next two weeks., The accelerated release
of rail cars may allow the introduction of a third but shorter train before
the end of September to further increase railed tonnages to port.
Production Update
Ore mined in August totalled 176,000 tonnes, made up of 40,000 tonnes of
direct railing ore at 65.3% Fe and 136,000 tonnes of plant feed at 58.1%
Fe.
Total ore mined from start up to the end of August now amounts to
478,000 tonnes, together with 986,000 tonnes of waste.
The mining
extraction rate has been expanded in recent weeks with the introduction of
larger machinery, and is now running in excess of 25,000 tonnes per day,
including direct railing ore, plant feed and lower grade ore, together with
waste.
Stockpiles of run-of-mine ore at Silver Yards at the end of August total
148,000 tonnes, including 84,000 tonnes of direct railing ore at 65.3% Fe,
52,000 tonnes of plant feed material at 60.3% Fe and 12,000 tonnes of lower
grade ore at 52.5% Fe which will be stockpiled for treatment in 2012 when
the Phase II upgrade and expansion of the Silver Yards processing plant is
commissioned.
A total of 55,000 tonnes of direct railing ore at 65.3% Fe was railed to the
port during the month of August.
Together with material railed during prior
months, there are now approximately 100,000 tonnes at 65.0% Fe stockpiled at
the port awaiting shipment.
The Silver Yards processing plant treated 135,000 tonnes during the month at
an average grade of 58.1% Fe producing 15,500 tonnes of lump ore at 62.5% Fe
and 51,750 tonnes of sinter fines at 64.7% Fe.
Total ore treated to August
31, was 233,000 tonnes at 58.1% Fe yielding 25,000 tonnes of lump ore at
63.5% Fe and 85,000 tonnes of sinter fines at 64.9% Fe.
All of this plant
production is now stockpiled at Silver Yards awaiting railing to port and
subsequent sale.
The plant throughput rate has been increased and the processing plant is now
treating in excess of 7,000 tonnes per day towards the target 10,000 tonnes
per day.
Recovery of iron units is increasing as fines handling improves
and this improvement is expected to continue when Phase II of the plant,
specifically designed for fines, is commissioned during September.
Iron Ore Sales
Under the iron ore sale agreement with the Iron Ore Company of Canada
(“IOC”) shipping arrangements for the ocean transport are now being
finalized and it is expected that the first Cape-size vessel filled with LIM
direct railing ore will depart Sept-Iles during the middle of September.
About Labrador Iron Mines Holdings Limited (LIM)
LIM’s Schefferville Projects involve the development of twenty direct
shipping iron ore deposits in western Labrador and north-eastern Quebec near
Schefferville, Quebec.
The 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.
Labrador Iron Mines contemplates mining in stages.
The first phase of Stage
1 comprises the James Mine and the Silver Yard processing plant which is
connected by a rail spur to the main Schefferville to Sept-Iles railway.
Full scale mining and processing operations commenced in June 2011 and the
first train departed LIM’s Silver Yards for Sept-Iles on June 29, 2011.
To
the end of August, about 100,000 tonnes of direct railing iron ore had been
delivered to the Port of Sept-Iles where it is stockpiled awaiting shipment.
For further information, please view [1]www.labradorironmines.ca
Links:
1.
http://angleseymining.us2.list-manage1.com/track/click?u=b2509bf4262d15b1a66d37bc4&id=068dc944d7&e=ba26fee041
About Anglesey Mining plc
Anglesey Mining with its LSE main board listing is primarily focused on its
33% interest in Labrador Iron Mines (TSX:LIM).
In addition to any new
projects that may be brought forward the company owns 100% of Parys Mountain
in North Wales with an historical resource in excess of 7 million tonnes at
over 9% combined copper, lead and zinc.
For further information, please contact:
Bill Hooley, Chief Executive +44 (0) 1492 541981
Ian Cuthbertson, Finance Director +44 (0) 1248 361333
Samantha Harrison / Shaun Whyte, Ambrian Partners Limited +44 (0) 2076
344700;
Emily Fenton / Jos Simson, Tavistock Communications
+44 (0) 20 7920 3155 / +44 (0) 7788 554035.
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