Last checked at 9 Jul 2012 13:04
Anglesey Mining plc LSE:AYM
9 July 2012
LIM - full-scale operations resume - blockade removed
Anglesey Mining's 26% owned associate Labrador Iron Mines Holdings Limited is pleased to report that full-scale operations have resumed at Schefferville after a five-day blockade was removed at the end of last week. The blockade, set up by a group of local residents, restricted road access from the town of Schefferville to LIM's mining operations in Labrador.
During this period, operations were minimally impacted as LIM continued to load trains and transport iron ore to the Port of Sept-Žles. Mining of direct rail ore continued throughout the week while plant operations at the Silver Yards Processing Facility were temporarily halted. Full-scale mining operations will now ramp up to a full production rate over the next few days and the exploration team has resumed its fieldwork program. There has been no impact on the 2012 saleable production target of 2 million tonnes of iron ore
LIM is pleased that the barricade has been removed by agreement and without incident. As this was a collaborative effort by all parties, LIM wishes to acknowledge Chief Real McKenzie of the Innu Matimekush-Lac John and Chief Louis Einish of the Naspaki Nation of Kawawachikamach, as well as their respective Band Councils, for their leadership, efforts and support during this time. LIM also wishes to thank the members of the community, as well as our local employees at site and the employees in the communities of Schefferville Lac Jean and Kawawachikamach who all worked together towards reaching a positive outcome.
LIM will continue to work with the residents of Schefferville and the local aboriginal groups to ensure open and honest dialogue to maintain long-term and mutually-beneficial positive relationships with all stakeholders.
About Labrador Iron Mines Holdings Limited
Labrador Iron Mines is Canada's newest iron ore producer. It owns a portfolio of direct shipping iron ore operations and projects located in the prolific Labrador Trough. The first full production season commenced in April 2012 with a sales target of 2 million tonnes of iron ore for the 2012 year.
LIM is focused on a strategic and robust growth plan arising from its portfolio of 20 iron ore deposits in Labrador and Quebec, all within 50 kilometres of the town of Schefferville. The James Mine is connected by a direct rail link to the Port of Sept-Iles, Qu©bec. The area also benefits from established infrastructure including the town, airport hydro power and railway service. Starting with the James Mine and leading to the development of the expanding Houston flagship project, the objective is to provide shareholders with long-term value as production and sales ramp up towards 5 million tonnes per year by 2015.
LIM is currently the only independently-owned Canadian iron ore producer listed on the Toronto Stock Exchange and trades under the symbol LIM.
About Anglesey Mining plc
Anglesey holds 26% of Toronto-listed Labrador Iron Mines Holdings Limited which is now producing iron ore from its James deposit, one of LIM's twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec.
Anglesey is also carrying out development and exploration work at its 100% owned Parys Mountain zinc-copper-lead deposit in North Wales, UK where there is estimated to be a total 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 / Klara Kaczmarek: RFC Ambrian +44 (0)2076 344700;
Emily Fenton / Jos Simson: Tavistock Communications +44 (0)20 7920 3155
XLON