Parys Moun­tain

Bangor Mail - - FRONT PAGE - Owen Hughes

ANGLESEY Min­ing want to raise £310,000 to help try to re-start work at a cop­per mine that was once the big­gest in the world.

They have started a share is­sue for project de­vel­op­ment of Parys Moun­tain mine near Amwlch.

They have agreed to is­sue 12,000,000 new or­di­nary shares on the Lon­don Stock Ex­change to “ex­pe­dite de­vel­op­ment” of the zinc, cop­per and lead mine.

But sev­eral pre­vi­ous at­tempts to bring back min­ing at the site af­ter more than 100 years have failed.

Anglesey Min­ing’s most re­cent mul­ti­mil­lion pound deal to re-start work at Parys Moun­tain col­lapsed in 2009 when the eco­nomic cri­sis sent me­tal prices tum­bling.

Min­ing at the site dates back 4,000 years, with the Ro­mans among those who ex­tracted vast re­sources of cop­per.

In the 18th cen­tury the cop­per mine was the most pro­duc­tive in the world — cop­per from the mine was used to sheath the Bri­tish Ad­mi­ralty’s wooden ships of war.

The pro­ceeds of this is­sue will be used for project de­vel­op­ment of the Anglesey mine and for gen­eral work­ing cap­i­tal.

The Parys Moun­tain prop­erty is a sig­nif­i­cant zinc, cop­per and lead de­posit with small amounts of sil­ver and gold.

An up­dated scop­ing study is cur­rently be­ing pre­pared by Mi­con In­ter­na­tional Lim­ited and Fair­port En­gi­neer­ing Lim­ited, both of which are ac­knowl­edged ex­perts and lead­ers in the re­sources sec­tor.

Bill Hoo­ley, Anglesey Min­ing chief ex­ec­u­tive, said: “We are very pleased to an­nounce this fi­nanc­ing, which rep­re­sents sig­nif­i­cant sup­port for Anglesey Min­ing, and we look for­ward to com­ple­tion of the up­dated scop­ing study and to ex­pe­dite de­vel­op­ment of the Parys Moun­tain project.”

Anglesey Min­ing will make an ap­pli­ca­tion for th­ese shares to be ad­mit­ted to both the Of­fi­cial List and to trad­ing on the Lon­don Stock Ex­change’s main mar­ket.

It is ex­pected that such ad­mis­sion will be­come ef­fec­tive and deal­ings will com­mence on De­cem­ber 14.

The Anglesey site was once the world’s most pro­duc­tive cop­per mine

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