Business
LIM completes third operating year
LIM completes third operating year.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \nAnglesey Mining plc\n\n4 December 2013 LSE:AYM\n\nLabrador Iron Mines completes third operating year\n\nAnglesey Mining plc (\"Anglesey\") is pleased to report that Labrador Iron Mines\nHoldings Limited (\"LIM\") in which Anglesey holds a 15% interest today notified\nthe successful completion of 10 shipments of iron ore totalling approximately\n1.7 million wet metric tonnes (\"wmt\") for its 2013 operating year.\n\nShip 9, the Myrtalia, departed from the Port of Sept-ÃŽles on November 22, 2013,\ncarrying approximately 169,000 wmt of 58% Fe sinter product. Ship 10, the\nAnangel Sailor, is scheduled to depart the Port on December 2 2013, carrying\napproximately 101,000 wmt of 62% lump product.\n\nWith the sale of two shipments completed in November and early December, LIM\nhas achieved its production target of approximately 1.7 million wmt in 10\ncape-size shipments for 2013. Inventory of approximately 97,000 tonnes of lump\nand sinter iron ore remain in the port which could not be loaded due to\nfreezing conditions.\n\nLIM has now concluded its third operating season, as mining, processing and\nrailing activities all wrapped up in November. LIM's exploration program will\ncontinue through the winter months with five diamond and two reverse\ncirculation drill rigs on site. To date, LIM has drilled approximately\n10,000 metres (\"m\"), focusing mainly on the Howse, Houston and Gill Deposits.\nThe full 14,000-m program is anticipated to be completed before year end.\n\nLIM's mining operations are seasonal, with a planned winter closure from\nDecember to March. Detailed planning for the upcoming 2014 operating season is\nnow underway and operations will continue to be focused on its Stage 1\ndeposits, including the James Mine and other smaller satellite deposits and\nstockpiles, all located within a 15-kilometre radius of the Silver Yards\nprocessing plants. An assessment of the remaining life of James Mine has\ncommenced to evaluate the economics of extraction in 2014 of the remaining ore\nin the bottom of the open pit and the down-dip depth extensions of some higher\ngrade sections.\n\nLIM is also currently evaluating an interim plan to haul Houston ore to the\nSilver Yards process and rail loading facilities in 2014 as a first stage,\nlower initial capital approach for development of the Houston deposit. The\nHouston and the ...