Brightening outlook for island mine.A RISE in metal prices may help a company reactivate plans for a mine on Anglesey. Site owners Anglesey Mining said yesterday there had been no major change this year in the status of its Parys Mountain Parys Mountain – in the Welsh language Mynydd Parys – is located south of Amlwch which is in north east Anglesey. The copper from the mine at Parys Mountain dominated the world's markets during the 1780s, when the mine was allegedly the largest in the project. But it added that the outlook for the project was improving along with base metal prices, market sentiment Market Sentiment The feeling or tone of a market (i.e. crowd psychology). It is shown by the activity and price movement of the securities. Notes: For example, rising prices would indicate a bullish market sentiment. and financing conditions generally. The company said in a statement yesterday: "Activities at the 100% owned Parys Mountain copper-lead-zinc project in North Wales North Wales (known in some archaic texts as Northgalis) is the northernmost unofficial region of Wales, bordered to the south by Mid Wales and to the east by England. have been limited over the period. "However the recent rise in base metal prices has led to a much more favourable outlook for the production of base metals and the directors intend to continue an active search for routes which will result in the re-activation of this project." The directors said they were also looking for "other favourable opportunities that may present themselves in the ferrous, non-ferrous and precious metals business both within Europe and elsewhere". Anglesey Mining has a 50% interest in a 90 million ton iron ore project in Labrador, Canada, which is due to start mining production in 2010. |
|
|||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion