Business
Half-Yearly Report
Half-Yearly Report.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \nAnglesey Mining plc LSE:AYM\n\n25 November 2010\n\nReport for the half year ended 30 September 2010\n\nChairman's statement and management report - November 2010\n\nWe are pleased to report that during the half year ended 30 September 2010 and\nup to date, excellent progress has been made with the ongoing development of\nLabrador Iron Mines' (LIM's) iron ore projects in Western Labrador and Quebec,\ncurrently the group's main activity. Since on-site construction commenced in\nearly September 2010, the rate of advance indicates that the plant and\naccommodation camp for the first phase of Stage 1 are on track to be\nsubstantially completed by the end of calendar 2010; mining and production\nactivities are planned to commence in April 2011.\n\nLabrador Iron Ore\n\nLabrador Iron Mines, the group's 41% owned Toronto Stock Exchange listed\nassociate, is advancing its Schefferville direct shipping iron ore project\ntowards production. LIM had respected and did not try to cross the barrier that\nhad been erected in June 2010 which had restricted normal access from the town\nof Schefferville to LIM's properties in Western Labrador and caused delays in\nthe exploration and development of the projects. Following an agreement in\nearly September with the Innu Matimekush-Lac John to remove the barriers,\nconstruction and installation work is being carried out on site.\n\nMine site preparation at the James Mine has commenced with the development of\nthe haul road, clearing and grubbing of the entire mining site and exposing the\nore body. Development of the first production bench in the mine will follow.\nSome small ore stock piles have been moved to Silver Yards and, together with\nthe first ore mined from the bench development, will be stockpiled ahead of the\nprimary crusher ready for feed to the processing plant at the commencement of\nproduction.\n\nConstruction of the beneficiation plant and associated facilities has\nprogressed well since early September. All the piers for the conveyors have\nbeen installed, including those for the radial stackers and the secondary\ncrusher, and most of the conveyor structures are in place. The steel structure\nfor the secondary screens tower has been completed and the chutes, stairs and\nflooring for the transfer tower are all installed. All the major items of\nprocessing equipment have been ins...