British miner Anglesey Mining reported an updated resource estimate of 5.2mn mt at its Parys Mountain copper-zinc-lead project on the island of Anglesey in North Wales.
According to the preliminary economic assessment (PEA) by Micon International, the inferred mineral resources tally at around 11.4mn mt, grading at 1.22pc copper, 0.54pc lead, and 1.04pc zinc, in which ore can be mined at the rate of 3,000mt per day. The mine’s life is now estimated at 12 years.
Bill Hooley, chief executive officer at Anglesey, said that Parys Mountain has the potential to produce about 7,300mt of copper, 8,000mt of zinc, and 7,600mt of lead per year, and would become a major contributor to the UK economy.
Compared to earlier studies, the indicated resources were about 2.45mn mt, mined at a planned rate of 1,000mt per day for eight years.