Business
LIM added to S & P / TSX smallcap index
LIM added to S & P / TSX smallcap index.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \nAnglesey Mining plc LSE:LYM\n\n12 September 2011\n\nLIM added to S&P/TSX SmallCap Index\n\nAnglesey Mining's 33% owned associate Labrador Iron Mines Holdings Limited\n(TSX: LIM) is pleased to announce that Labrador Iron Mines Holdings Ltd. has\nbeen added to the S&P/TSX SmallCap Index which will become effective after the\nclose of trading on Friday, September 16, 2011.\n\nThis addition was announced by Standard & Poor's Canadian Index Operations on\nSeptember 9, 2011, following the results of the annual review of the S&P/TSX\nSmallCap Index. S&P Indices is the world's largest index provider and maintains\na wide variety of investable and benchmark indices to meet investor needs.\n\n\"The addition of LIM to the S&P/TSX SmallCap Index reflects LIM's growing\ninvestment profile as production of direct shipping iron ore at its James Mine\nin western Labrador continues to ramp up,\" said John F. Kearney, Chairman.\n\nTotal ore mined from start-up to August 31, amounted to 478,000 tonnes,\ntogether with 986,000 tonnes of waste. There are now approximately 110,000\ntonnes of iron ore, at a grade of about 65.0% Fe, stockpiled at the Port of\nSept-Iles awaiting shipment.\n\nOn August 15, 2011 LIM announced an iron ore sale agreement with the Iron Ore\nCompany of Canada for the sale and shipping of all of LIM's 2011 iron ore\nproduction. It is expected that the first Cape-size vessel filled with LIM\ndirect railing ore will depart Sept-Iles during the middle of September.\n\nAbout Labrador Iron Mines Holdings Limited (LIM)\n\nLIM's Schefferville Projects involve the development of twenty direct shipping\niron ore deposits in western Labrador and north-eastern Quebec near\nSchefferville, Quebec. The properties are part of the historic Schefferville\narea iron ore district where mining of adjacent deposits was previously carried\nout by the Iron Ore Company of Canada from 1954 to 1982.\n\nLabrador Iron Mines contemplates mining in stages. The first phase of Stage 1\ncomprises the James Mine and the Silver Yard processing plant which is\nconnected by a rail spur to the main Schefferville to Sept-Iles railway.\n\nFull scale mining and processing operations commenced in June 2011 and the\nfirst train departed LIM's Silver Yards for Sept-Iles on June 29, 2011.\n\nFor further information, please view www.labradoriro...