LIM production update - second ore train operating


 
TIDMAYM 
 
Anglesey Mining plc LSE:AYM 
 
6 September 2011 
 
LIM Reports Production Update 
 
Second Iron Ore Train Operating 
 
Anglesey Mining's 33% owned associate Labrador Iron Mines Holdings Limited 
(TSX: LIM) reports that it has commenced the operation of a second train moving 
iron ore from its James Mine and Silver Yards processing plant in western 
Labrador to the Port of Sept-Iles, Quebec. Total ore mined from start up to 
August 31, amounted to 478,000 tonnes, together with 986,000 tonnes of waste. 
There are now approximately 100,000 tonnes of iron ore, at a grade of about 
65.0% Fe, stockpiled at the port awaiting shipment. 
 
Second Train in Operation 
 
LIM commenced the operation of a second train on Saturday September 3. This 
second train will permit the rapid acceleration of the tonnage of iron ore 
moving to the port for sale. Improvements to the cycle times of trains from 
mine to port and back are also being made and this will further increase the 
tonnages expected to be railed. 
 
The second train commenced operations a little earlier than previously expected 
following accelerated modifications to the railcars. At present 270 cars are in 
operation in the Sept-Iles-Silver Yards system and a further 40 should become 
available within the next two weeks., The accelerated release of rail cars may 
allow the introduction of a third but shorter train before the end of September 
to further increase railed tonnages to port. 
 
Production Update 
 
Ore mined in August totalled 176,000 tonnes, made up of 40,000 tonnes of direct 
railing ore at 65.3% Fe and 136,000 tonnes of plant feed at 58.1% Fe. Total ore 
mined from start up to the end of August now amounts to 478,000 tonnes, 
together with 986,000 tonnes of waste. The mining extraction rate has been 
expanded in recent weeks with the introduction of larger machinery, and is now 
running in excess of 25,000 tonnes per day, including direct railing ore, plant 
feed and lower grade ore, together with waste. 
 
Stockpiles of run-of-mine ore at Silver Yards at the end of August total 
148,000 tonnes, including 84,000 tonnes of direct railing ore at 65.3% Fe, 
52,000 tonnes of plant feed material at 60.3% Fe and 12,000 tonnes of lower 
grade ore at 52.5% Fe which will be stockpiled for treatment in 2012 when the 
Phase II upgrade and expansion of the Silver Yards processing plant is 
commissioned. 
 
A total of 55,000 tonnes of direct railing ore at 65.3% Fe was railed to the 
port during the month of August. Together with material railed during prior 
months, there are now approximately 100,000 tonnes at 65.0% Fe stockpiled at 
the port awaiting shipment. 
 
The Silver Yards processing plant treated 135,000 tonnes during the month at an 
average grade of 58.1% Fe producing 15,500 tonnes of lump ore at 62.5% Fe and 
51,750 tonnes of sinter fines at 64.7% Fe. Total ore treated to August 31, was 
233,000 tonnes at 58.1% Fe yielding 25,000 tonnes of lump ore at 63.5% Fe and 
85,000 tonnes of sinter fines at 64.9% Fe. All of this plant production is now 
stockpiled at Silver Yards awaiting railing to port and subsequent sale. 
 
The plant throughput rate has been increased and the processing plant is now 
treating in excess of 7,000 tonnes per day towards the target 10,000 tonnes per 
day. Recovery of iron units is increasing as fines handling improves and this 
improvement is expected to continue when Phase II of the plant, specifically 
designed for fines, is commissioned during September. 
 
Iron Ore Sales 
 
Under the iron ore sale agreement with the Iron Ore Company of Canada ("IOC") 
shipping arrangements for the ocean transport are now being finalized and it is 
expected that the first Cape-size vessel filled with LIM direct railing ore 
will depart Sept-Iles during the middle of September. 
 
About Labrador Iron Mines Holdings Limited (LIM) 
 
LIM's Schefferville Projects involve the development of twenty direct shipping 
iron ore deposits in western Labrador and north-eastern Quebec near 
Schefferville, Quebec. The properties are part of the historic Schefferville 
area iron ore district where mining of adjacent deposits was previously carried 
out by the Iron Ore Company of Canada from 1954 to 1982. 
 
Labrador Iron Mines contemplates mining in stages. The first phase of Stage 1 
comprises the James Mine and the Silver Yard processing plant which is 
connected by a rail spur to the main Schefferville to Sept-Iles railway. 
 
Full scale mining and processing operations commenced in June 2011 and the 
first train departed LIM's Silver Yards for Sept-Iles on June 29, 2011. To the 
end of August, about 100,000 tonnes of direct railing iron ore had been 
delivered to the Port of Sept-Iles where it is stockpiled awaiting shipment. 
 
For further information, please view www.labradorironmines.ca 
 
About Anglesey Mining plc 
 
Anglesey Mining with its LSE main board listing is primarily focused on its 33% 
interest in Labrador Iron Mines (TSX:LIM). In addition to any new projects that 
may be brought forward the company owns 100% of Parys Mountain in North Wales 
with an historical resource in excess of 7 million tonnes at over 9% combined 
copper, lead and zinc. 
 
For further information, please contact: 
 
Bill Hooley, Chief Executive +44 (0) 1492 541981 
 
Ian Cuthbertson, Finance Director +44 (0) 1248 361333 
 
Samantha Harrison / Shaun Whyte, Ambrian Partners Limited +44 (0) 2076 344700; 
 
Emily Fenton / Jos Simson, Tavistock Communications 
 
+44 (0) 20 7920 3155 / +44 (0) 7788 554035. 
 
 
 
END
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